Wednesday 13 December 2017

Mighty Quinn now reduced to working from disused tyre plant as battle over bankruptcy rages

Sean Quinn
Sean Quinn

Emmet Oliver

ONCE he was worth €4.7bn and could avail of a private jet. Now Sean Quinn is forced to operate from a disused tyre factory in Belturbet, Co Cavan.

That is the journey he has made over the last few years, according to court documents which shine a light on the personal pressures the Cavan man has been under since tangling with Anglo Irish Bank (now called IBRC).

Documents, seen by the Irish Independent, say Quinn now does all his business from the tyre factory, often meeting there with his solicitors and his two key lieutenants, former Quinn Insurance executive Dara O'Reilly and Kevin Lunney.

While it would have been unthinkable for Quinn to operate from anywhere but Quinn headquarters in Derrylin up until recently, it is clear he is having to improvise as pressure comes on from his former lenders. However, not all is lost -- the Belturbet office does have a wireless connection.

From April of this year to November 3, Anglo has been serving various legal papers on Quinn, often in person. The most common routine has been for Sean Quinn Jr, his son, to bring his father to the gates of the family home in Cavan to be served with the documents.

Anglo claim in an affidavit that relationships have soured so much that the Quinn family have simply stopped answering calls to the house.

As a result, Anglo officials now go to Belburbet to serve the papers on Sean Quinn senior personally and he has accepted this arrangement.

As to what Sean Quinn has been doing during recent months, Anglo claims he has mainly been helping his children fight the bank.

"The defendant has been primarily assisting his children with their proceedings against the bank and with their attempts to retain control of certain corporate entities,'' the bank claims.

"All of the Quinn family live in this jurisdiction, they instruct solicitors in this jurisdiction to manage their affairs, their bank accounts are with the Irish banks,'' the bank states in its affidavit.

The bank does not say how many times it has sought to serve legal papers directly on Mr Quinn senior, simply saying it has served ''many demands''.

Irish Independent

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