Tag Archives: IBRC

Many people from the Border counties of Cavan and Fermanagh gathered for the rally, which got underway after 4pm.

Well-known GAA figures Mickey Harte, Donegal selector Rory Gallagher and Peter Quinn spoke out in support of the family at the rally, organised by the Concerned Irish Citizens group.

Seán Quinn’s wife Patricia and his daughters were among those at the rally. Mr Quinn’s daughter Ciara Quinn told the crowd that the family will succeed and create jobs again and that she and her siblings would not become Anglo scapegoats.

Mr Quinn and his wife Patricia eventually broke down as prayers and a poem were read for their jailed son, Sean Quinn junior.

.

Thousands attend Quinn rally (Áine McMahon, Irish Times)

(Laura Hutton/Photocall Ireland)

(Pix 5/6: Rodney Edwards)

(Hat tip: Lars Biscuits)

Documents retrieved recently from a damaged computer in Moscow include employment contracts for Quinn, three of his siblings, his then fiancee and now wife Karen Woods, and other members of the Quinn family. The contracts stipulate that they each get millions of euros in the event of being laid off by property-holding companies in Russia over which IBRC has mortgages and charges.

The charges were taken out when Anglo Irish Bank, now known as IBRC, issued the Quinn family with loans worth hundreds of millions of euros which the family cannot repay.

The property group over which the bank has charges is worth up to €500 million.

The documents indicate Mr Quinn was to get up to €15 million if his employment was terminated in two companies. His wife was to get €36 million from a number of companies in the event of her employment being terminated, as were Mr Quinn’s siblings Aoife, Ciara and Colette, and Ciara’s husband, Niall McPartland, according to the bank.


Now THAT is how you do a golden parachute.

Quinns were to receive millions in severance payments (Colm Keena, Mary Carolan, Irish Times)

(Mark Stedman/Photocall Ireland)

Anglo Irish Bank has officially changed its name to the Irish Bank Resolution Corporation (IBRC).

The bank will now trade as IBRC.

Last month, Anglo Irish Bank Chairman Alan Dukes estimated the final cost to the taxpayer to deal with the bank at around €25bn.

It was reported on Tuesday that the Anglo Irish Bank signage was to be displayed in the Museum of Modern Art.

Beg pardon? The Museum of Modern Whatnow?

Anglo Irish Bank name changed to IBRC (RTE News)

(Pic: Oisin)