Who thinks Sean Quinn is a great businessman now?

Galtee

joseph brand wrote: »

I've read this post twice, I like it so much. And it taught me the word 'servile'. I'm gonna be using this word every day. My mother in law has a servile attitude. Apologies for going off the point, but Sean Quinn will be back as he has moved a lot of cash to members of his family. A scumbag, gambling away peoples futures.

Also, why is Galtee trolling in here?

*yawn*

Katekat wrote: »

Because s/he's Sean Quinn lovechild?

*Shudder*

Sean Quinn is just the same as most other businessmen who rode the crest of growth over the past couple of decades.

Unfortunately for people like him, the rules have changed, businesses can no longer grow in the conventional way as the (global) limitations to growth have been reached and anyone who assumes that the next quarters growth is going to pay the previous quarters costs will come unstuck!

People are now waking up to this "new normal" those that don't get it will soon be bankrupt!

tipptom

11 s class mercedes worth about k200 this year while poor people marraiges are breaking up with the stress of trying to pay back his gambling debts and he salts away all his assets to make sure that we pay every cent that he gambled.He created these jobs in this region because he needed workers for his business,not for some altruistic reason.Any one marching for him with placards and does not recognise this is at least as crazy as the bet he put on Anglo Irish.

Sofa King Great

Galtee, you are incorrect in what you are saying. Simply moving to another jurisdiction is not enough to take advantage of their banruptcy legislation.

Any barrister worth his salt should be able to argue that Quinn still performs a substantial amount of his business in Ireland and as such his COMI is not in the UK.

Galtee

Sofa King Great wrote: »

Galtee, you are incorrect in what you are saying. Simply moving to another jurisdiction is not enough to take advantage of their banruptcy legislation.

Any barrister worth his salt should be able to argue that Quinn still performs a substantial amount of his business in Ireland and as such his COMI is not in the UK.

Firstly we are talking specifically about the UK. There are no rules regarding how long you have to be resident in UK before COMI is established, most barristers would suggest 3 months though. IN fact, even if your wife still lives in Ireland it makes no difference to the UK, you can still file for bankruptcy there. It doesn't matter where his businesses are or where the debt is built up. I don't agree with it, that's just the way it is.

ScumLord

Deleted User wrote: »

Unfortunately for people like him, the rules have changed, businesses can no longer grow in the conventional way as the (global) limitations to growth have been reached and anyone who assumes that the next quarters growth is going to pay the previous quarters costs will come unstuck!

That's unfortunate as global economies depend on infinite growth. Without constant and infinite growth economies are failing according to economists.

Ellis Dee

Whatever about his acumen as a businessman, Quinn is a real master at the beal bocht. According to yesterday's newspapers, he claims he has only €11,000 or so in the bank, an 8-year-old car and a few odds and sods. Not a word about the assets his family members hold.:rolleyes::rolleyes:

If only the Irish economy could start growing again at anything like the rate Quinn's nose must be lengthening, we'd all be back in fat city again in no time.;);)

Sofa King Great

Galtee wrote: »

Firstly we are talking specifically about the UK. There are no rules regarding how long you have to be resident in UK before COMI is established, most barristers would suggest 3 months though. IN fact, even if your wife still lives in Ireland it makes no difference to the UK, you can still file for bankruptcy there. It doesn't matter where his businesses are or where the debt is built up. I don't agree with it, that's just the way it is.

We will have to agree to disagree

mdoyler2

he did work in NI his whole life!
did Anglo not know his business address was Derrylin Co. Fermanagh.

foxyboxer

If I were a bankrupt billionaire, I'd salt away assets too. It's just the done thing.

tipptom

foxyboxer wrote: »

If I were a bankrupt billionaire, I'd salt away assets too. It's just the done thing.

Thats fine,but in this case any assets that he salts away are the tax payers,so he is hiding them on me and you so it is us that took all the risk on his gambling debts.

mdoyler2

It was the Governments calamitous decision to nationalise Anglo that has burdened our generation and the next with debt. At that time they knew Anglo was cooking its books, they knew the extend of the reckless lending and fraudulent actions of its directors. Why on earth they thought taking 100% of Anglo’s loan book was a good idea, is just beyond me.

To make things worse many of the people involved in that infamous decision are still working in Dept of Finance and Central Bank advising the Government, such as Kevin Cardiff & Co. It’s absolutely shocking.

lazygal

http://www.irishtimes.com/newspaper/breaking/2011/1215/breaking50.html

Poor old Mrs. Quinn, director of loads of companies but it was all Sean's fault, she never knew what was going on.

1966

What a neck these people have.........................suppose he'll claim he didn't know what he was signing next??

thebaz

Sean Quinn is such a pillar of Irish society - he owes the country billions - and refuses to pay back any , claiming to be broke , leaving behind a maze of Eartern European transactions and assets, now conveniantly owned by his family -

meanwhile the rest of the country is forced to endure austere cutbacks , hospital/HSE cutback/ Gardai and social welfare cutbacks - to try and Claw back some of the money he owes the state

He too a gamble and lost - would he have shared his riches with us if he won ?


What a great man, you are Mr. Quinn

Annabella1

What is going on at the moment is a disgrace.I have no doubt that the taxpayer will end up picking up these legal fees as the quinn s feel they shouldn't pay for anything.
The sense of entitlement they have brings a new meaning to the word brass neck

no1beemerfan

I'm glad poor MRs Quinn lost her case against the judgement for €3 million. What a fcuking neck on her claiming what she did. I couldn't believe it but then again these sort of people will stoop very low to protect themselves and their assets.

Galtee

thebaz wrote: »

Sean Quinn is such a pillar of Irish society - he owes the country billions - and refuses to pay back any , claiming to be broke , leaving behind a maze of Eartern European transactions and assets, now conveniantly owned by his family -

meanwhile the rest of the country is forced to endure austere cutbacks , hospital/HSE cutback/ Gardai and social welfare cutbacks - to try and Claw back some of the money he owes the state

He too a gamble and lost - would he have shared his riches with us if he won ?


What a great man, you are Mr. Quinn

I think you may be getting the wrong end of the stick, Anglo => (Irbc) owe the state money not Sean Quinn, he owes Irbc. Do you think Irbc will pay anything to the taxpayer if they get the 2.6 billion out of Sean Quinn?

GetWithIt

Galtee wrote: »

I think you may be getting the wrong end of the stick, Anglo => (Irbc) owe the state money not Sean Quinn, he owes Irbc. Do you think Irbc will pay anything to the taxpayer if they get the 2.6 billion out of Sean Quinn?

As IBRC is 100% state owned I'm not sure if you have a point.

They'll use the money to pay off their debts - which are our debts.

irishgeo

if the quinns are bankrupt, who is paying all their legal fees?

Fear Uladh

irishgeo wrote: »

if the quinns are bankrupt, who is paying all their legal fees?

*looks at taxes paid this month*

I guess I am.

Galtee

GetWithIt wrote: »

As IBRC is 100% state owned I'm not sure if you have a point.

They'll use the money to pay off their debts - which are our debts.

Anglo were bailed out by the state, that's why it's state owned and that's why the debts are state debts, I would have thought that was obvious. The real issue is that anglo were bailed out in the first place, but now because of the nice spin put on it everyone is Anglos friend all of a sudden and against Sean Quinn because he owes them money. It's brainless to be honest.

Annabella1

Galtee wrote: »

Anglo were bailed out by the state, that's why it's state owned and that's why the debts are state debts, I would have thought that was obvious. The real issue is that anglo were bailed out in the first place, but now because of the nice spin put on it everyone is Anglos friend all of a sudden and against Sean Quinn because he owes them money. It's brainless to be honest.

I agree with you to a point but when I hear Mrs Quinn sounding like Manuel in a Barcelona accent saying 'I know nothing' it sticks in my craw.
At least have a bit of class even if there is nothing else left

hollypink

irishgeo wrote: »

if the quinns are bankrupt, who is paying all their legal fees?

Well isn't it only Sean Quinn who is filing for bankruptcy? So his wife could still have money.

Sulmac

Seán Quinn's wife ordered to repay €3m
Updated: 14:02, Friday, 16 December 2011

The wife of Seán Quinn must repay the former Anglo Irish Bank more than €3 million arising out of a loan she took out with her husband five years ago.

Patricia Quinn claimed she was a homemaker for 36 years and did not even possess a basic knowledge of business matters.

She said she did not know what she was signing when she signed the loan agreement and did not get the benefit of the money.

But the Irish Bank Resolution Corporation described her evidence as incredible. Patricia Quinn was a director of 63 Irish companies, a company secretary of ten and that she held directorships in 28 UK companies.

Mr Justice Peter Kelly said a lot of criticism had been made of the credibility of Mrs Quinn's evidence.

He said for the purpose of this case he was going to set aside all questions of credibility accept everything said in her sworn statements by Mrs Quinn as accurate and truthful.

But he said she had failed to make out an arguable defence to the claim by the bank for the repayment of the loan.

He said even the most cursory glance at the documents she had signed would have told all but an illiterate person that she was entering into some form of borrowing agreement.

He also said she had been negligent by signing documents put in front of her without finding out their effect.

Justice Kelly asked what could be more negligent than willy-nilly signing formal legal documents without giving a thought to their effect.

He also said Mrs Quinn's lawyers had argued that there was a presumption of undue influence in the relationship between husband and wife.

There was not, he said, and had not been since 1750.

Mr Justice Kelly said there was no evidence of undue influence by Seán Quinn.

He said there was no evidence that Mrs Quinn suffered from an intellectual disability, a mental illness or cognitive impairment and there was no evidence at all of threats or bullying by her husband.

In relation to Mrs Quinn's argument that she did not receive the money, the judge said whether it was used to complete the decoration of the Quinn home or for something else was a matter for the borrowers.

The loan was drawn down at the direction of Mr Quinn, and was used.

He said if Mrs Quinn did not consider that she got value from the borrowing, then that was a complaint against Mr Quinn, not against the bank.

The judge granted judgment to the bank for just over €3m.

He refused an application by lawyers for Mrs Quinn for a stay on the order pending a possible appeal to the Supreme Court.

The judge said they would have to ask the Supreme Court for any stay.

Story from RTÉ News:
http://www.rte.ie/news/2011/1216/quinn.html

This will be appealed to the Supreme Court and/or Mrs Quinn will declare bankruptcy in Belfast. It's not the end of it yet, I think.

Galtee

Annabella1 wrote: »

I agree with you to a point but when I hear Mrs Quinn sounding like Manuel in a Barcelona accent saying 'I know nothing' it sticks in my craw.
At least have a bit of class even if there is nothing else left

Agreed, the article in yesterdays paper wasn't easy reading at all.

foxyboxer

Married to Ireland's ex-richest business man.
Not even a basic knowledge of business gathered during those 36 years.

Checks out. :rolleyes:

Ellis Dee

I think I'll start sending back my bills with an attached note saying I have no memory of ever having ordered or received the goods and services in question. If it works for me half as long as ----;););)

Gophur

Poor Mrs Quinn.

She was (possibly still is) a director of 91 (ninety-fecking-one) companies, Company Secretary of 10 of them, and is claiming to not know anything about any of them?

Where did she think the money for her huge house came from? The Fairies?

And still there are thousands who worship the ground SQ walks on.

lucylu

If "Clueless" Homemaker Mrs Quinn was a Company Secretary for 10 Companies did she get a salary? Did she pay tax?