Thursday 26 April 2018

Emmet Oliver: Tycoon won PR battle, but he is rapidly losing the war for control

Sean Quinn. Photo: David Conachy
Sean Quinn. Photo: David Conachy

Emmet Oliver

Sean Quinn is facing the crushing reality of losing control of his insurance company, but the personal blows look like being larger as he faces losing control of the entire Quinn Group.

Last night, Anglo Irish Bank -- Quinn's last and best hope -- were still struggling to convince the Financial Regulator, Matthew Elderfield, that they should take over the wider Quinn Group, including the insurance arm.

The Anglo proposal at least holds out the hope of Quinn and family retaining some role in the wider Quinn empire. In contrast, the appointment of a full-time administrator and sale of Quinn Insurance and break-up of the Quinn Group would definitely see the end of Quinn's control of his empire.

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