Quinn take over

jimbobaloobob

Im sure theres other posts on this but i dont know where to find them move it if necessary

What do people think of the Quinn Family being left with a 3 billion debt that Mike Ainsley said would have parts of it written off?

cml387

jimbobaloobob wrote: »

Im sure theres other posts on this but i dont know where to find them move it if necessary

Not in AH there ain't.

OutlawPete

I hate the long ball game and think he was a glorified hatcher personally, his wife's a babe though.

themadchef

Can you elaborate or link to the story?

\ Lost.

jimbobaloobob

Sorry heres the link to rte

http://www.rte.ie/news/2011/0414/quinn2-business.html

orourkeda

This has been coming.

SEPT 23 1989

They should send the Sheriff around to recover all debts

orourkeda

SEPT 23 1989 wrote: »

They should send the Sheriff around to recover all debts

At over €4 billion he could be some time waiting

FlutterinBantam

Quinner took a few very poorly thought out punts.

Sorry to see the family fortune is wiped out, but when you go in that deep, that is what can happen.

Lesson: never put most of your eggs in on basket.:cool:

General General

FlutterinBantam wrote: »

Quinner took a few very poorly thought out punts.

Sorry to see the family fortune is wiped out, but when you go in that deep, that is what can happen.

Lesson: never put most of your eggs in on basket.:cool:

Actually, the lesson is; don't go on about how you only play cards with your friends for small stakes despite being worth a fortune...

Mint Sauce

I dont understand though how AIB can afford it, what with all their cuts annouced this week.



Glad to see the banks remain greedy with the tax/imf paid goverment bailouts.

:rolleyes:

Mint Sauce

OSI wrote: »

AIB = Allied Irish Bank != Anglo Irish Bank

also

My bad. Carry on. Nothing to see. I was never here.

ballsymchugh

irish-stew wrote: »

I dont understand though how AIB can afford it, what with all their cuts annouced this week.



Glad to see the banks remain greedy with the tax/imf paid goverment bailouts.

:rolleyes:

tis anglo, not AIB i think? quinn tried to buy anglo just before it went tits up. i wonder what would've happened if he did buy it, after borrowing the cash used from it.

jimbobaloobob

OSI wrote: »

Delighted he's going to be left with the debt. Why should one man's idiocy effect the jobs and lives of thousands of others. I wish the same idea was applied to the bankers. Sell the bank and leave the bankers with the debt their mistakes made.

he will have the debt but its so colossal that parts of it will be written off.

As for the bank affording it, they are just taking over Quinns share of the Businesses.

Mint Sauce

ballsymchugh wrote: »

tis anglo, not AIB i think? quinn tried to buy anglo just before it went tits up. i wonder what would've happened if he did buy it, after borrowing the cash used from it.

It is Anglo, who are already owed money by Quinn.

biko

Good thing I moved to AXA

jimbobaloobob

makes no difference to quinn ins who you move to, the company is uneffected, ownership is all that changed.

thebaz

Sean Quinn through his Anglo dealings owes the Irish state 2.8 billion , and I would be surprised if he still is not living in his mansion in Cavan - the public have a loathing for that other Anglo Sean , yet a soft spot for Sean Quinn , yes he boosted employment in the North West , but he also owes the state a lot more than Sean Fitzpatrick - monies that we will probably not get back

ballsymchugh

thebaz wrote: »

Sean Quinn through his Anglo dealings owes the Irish state 2.8 billion , and I would be surprised if he still is not living in his mansion in Cavan - the public have a loathing for that other Anglo Sean , yet a soft spot for Sean Quinn , yes he boosted employment in the North West , but he also owes the state a lot more than Sean Fitzpatrick - monies that we will probably not get back

a lot of the quinn group is profitable, so while there won't be a big return pretty soon, it may pay back slowly but surely. much more than anglo ever will.

SeaFields

A guy from the Sunday Business Post put it very well earlier (paraphrasing)....

Sean Quinn spent decades building a series of successful businesses from the ground up through hard work and graft. He tried to double this overnight in the stock market and lost.

thebaz

ballsymchugh wrote: »

a lot of the quinn group is profitable, so while there won't be a big return pretty soon, it may pay back slowly but surely. much more than anglo ever will.

the 2.8 billion i am talking about is through some shady anglo irish share scheme - as far as i know he personally owes Anglo 2.8 billion for shares that are now worthless - so his personal debt to Anglo, which is now the state , is something around 2.8 billion - i stand to be corrected on this

ballsymchugh

thebaz wrote: »

the 2.8 billion i am talking about is through some shady anglo irish share scheme - as far as i know he personally owes Anglo 2.8 billion for shares that are now worthless - so his personal debt to Anglo, which is now the state , is something around 2.8 billion - i stand to be corrected on this

yeah you're right. the group owe over 1 billion. as sea fields said, the guy from the business post on today fm put it just right.

glencoe

Looking and listing at the news and the taking if the Quinn Group off the Quinn Family I have some mixed feelings on it maybe some of my thoughts are misplaced but here it is

Quinn Group generally a sucessfull conglomerate built up over years taken over by Anglo Irish a totally failed and hollow bank.

Quinn taken down while no bank director has had a day behind bars.

Quinn's are probably the type of operation and scale of business we need in Ireland to help us get out of the hole created by the reckless banks and gov policys.

Operation split up and sold off to foreign corperations who have no root or loyalty to the country.

On the other side
Quinn gamblling the whole show on bank shares (eggs and basket) as said earlier.

In some ways this is the start of a new rape of the country by the banks who will be absolute c+++s

Quinn always seemed to be a straight but tough operator who made something from very little.

Tall ask but I hope they can rise from the ashes

themadchef

glencoe wrote: »

Quinn always seemed to be a straight but tough operator who made something from very little.

Straight? His kids are minted from all the money he transferred to them.

Anyone that thinks Sean Quinn walked away penniless from this is thicker than Nutella on a fat kids sandwich.

Bat Fasterd

SeaFields wrote: »

A guy from the Sunday Business Post put it very well earlier (paraphrasing)....

Sean Quinn spent decades building a series of successful businesses from the ground up through hard work and graft. He tried to double this overnight in the stock market and lost.

Thats crap in some ways. As I said in a now closed thread he, and his mates, were trying to buy/takeover/major holding in Anglo.

The dogs on the street know that.

that's where the "Golden Circle" came from? To help him out when it went sh1t shaped?

The J Stands for Jay

glencoe wrote: »

Quinn always seemed to be a straight but tough operator who made something from very little.

I seem to recall him making illegal transfer from the insurance business to fund other areas of the group. I think there was a large fine from the regulator.

brendansmith

OutlawPete wrote: »

I hate the long ball game and think he was a glorified hatcher personally, his wife's a babe though.

Where, might I ask, is the fukking link to a picture of her???

UrbanFret

The wheel has come full circle (well almost)

http://www.northernsound.ie/news/sean-quinn-is-back-in-business/

ytpe2r5bxkn0c1

Oh come off it. Only about one degree of rotation. He has a long way to go. But, as long as he pays what he owes, he can do whatever he likes as it won't impact on my life.

handlemaster

Follow the money .. where did this take over money come from

Patrick2010

From the Indo...



The Quinn Group, rebranded as Aventas in 2013, began selling off the companies in the group, fuelling a spate of around 70 violent attacks and vandalism against various Quinn properties. The attacks are understood to have stopped completely in recent months.
A group of his former top executives and business supporters set up the Quinn Business Retention Company, which with foreign backing, bought up the packing and construction supplies business from Aventas in December.


I'm sure the attacks stopping when Seanie got back control is a coincidence.