Sean Quinn’s children (Seán Quinn Junior, Colette Quinn, Aoife Quinn, Ciara Quinn and Brenda Quinn) enter the Four Courts today on the first day of the case between them and the Irish Bank Resolution Corporation last month
BREAKING: the legal cases involving Sean Quinn's five adult children and State owned IBRC have settled. Quinns have consented to €445m judgment €88m each, to be stayed on condition they take steps to secure the return of valuable Quinn property assets to IBRC.
— Mary Carolan (@MaryCarolanIT) April 2, 2019
This morning.
The High Court.
The five Quinn children had denied liability for around €415 million under guarantees in relation to loans advanced by Anglo to Quinn companies…
As part of the settlement judgment is to be entered against each of the five children, Ciara, Colette, Brenda, Aoife and Sean Quinn junior in the sum of just over €88 million each.
But the judgments are to be stayed on terms agreed between the parties.
In a statement, IBRC said the Quinn family had provided the bank with full disclosure and would relinquish any entitlement to any of the assets that were the subject of IBRC’s security.
It said it viewed the settlement as being in the best interests of creditors, in circumstances where it had received full disclosure from the Quinn family and where the very lengthy litigation that had begun in 2011, would be brought to a conclusion.
Final orders in the conspiracy case are expected in court tomorrow.
Legal battle between Quinn family and Anglo Irish Bank settled (RTÉ)
Haven’t the Quinns extracted 10s if not 100s of millions of euros in rent from the assets? What happens to all that lolly, or is that buried in the “terms agreed between the parties”?
‘In a statement, IBRC’
-tells you all you need know Eoin,what did this privilege cost you’d have to wonder….
And that’s the problem, 100% state-owned IBRC won’t say what the terms of the settlement are. Did the State get good value for money? Who knows, who can tell.
…a very long wait…but…you finally got that headline in Bodger…congratulations…
I completely understand why the family did what did. Every body would fight tooth and nail to keep their “assets”. What is really scummy of them is them trying to wash their hands of loans the agreed to. “Oh daddy put undue pressure on us” all grown adults using this excuse. Oh and the best one from Daddy Quinn him self, the loans he was given were illegal so shouldn’t have to be paid. Why has no one asked him “ok, since they were illegal loans would you have reported it and paid all the money to the state if the gamble you made paid off?”
Thankfully,IRBC has stopped hounding the children of Ireland’s greatest entrepreneur,who created thousands of jobs and wealth in a region long ignored by the Irish govt.
Unlike FG’s favorite “Irish” businessmen,DOB,Sean has lived his entire life in Ireland,no dodgy off shore tax havens for him.
Congrats Sean and family,hopefully this allows you get back creating jobs and wealth in a region still ignored by FG.Looking forward to another great lunch at your hotel which I understand your keeping:)
Really?
When IBRC sought to seize a shopping mall in Kiev from the family of Seán Quinn, it had to fight a legal action against Lyndhurst, incorporated in the British Virgin Islands, a tax haven much favoured by plutocrats.
Try looking them up on the CRO website and see how you get on.
-yeah so what he’s a good scraper,can handle himself,gent and a legend in his ‘hood-ask anyone locally.
nice trolling.
I was referring to his residency,where he pays taxes unlike the so called pillars of irish business – O’Brien in Malta,Lord O’Reilly In Bahamas,Dr Smurfit in Monaco,but carry on…
‘hood, indeed!
Any sign of those assaults and arson attacks on ex-Quinn Companies ending anytime soon?
Every policyholder in Ireland will be paying to cover the debts racked up by that man’s reckless business dealings for decades to come.
-cause he single handlidly and stupidly nationalized tha banks and guaranteed bondholders,The Mighty Quinn all by himself is responsible for Ireland’s political niavity and incompetence.
Firts class trolling by Johnny. I take my hat off
April 1st was yesterday.
I heard an item on Nationwide referring to an area as “Sean Quinn Country”” is he now celebrated like the West Highland Way or a Poet. He is and was an incompetent C u next Tuesday.
On the tour do they have like this is where he stole the insurance money, leading to a 2% levy on all insurance.
Walks towards the camera while talking
Sweet result for them. Slate cleaned and €88m a piece so that even their great grand children won’t have to work if they don’t want to.