€100,000 wedding cake, billed to Quinn Company

kincsem · 30-09-2012 07:38PM

davetherave wrote: »

How did the taxpayer pay for it if Quinn group paid for it five years ago?

A wedding cake is not an allowable expense when calculating a company's tax bill. And if you don't understand my first sentence this ... it is tax fraud. You pay for personal expenses out of taxed personal income. My guess is the tax inspector will be checking back through the tax computation for that year to see that the cake was either (1) charged to a director's account or (2) disallowed in the tax computation. If it was charged to business expenses and then disallowed it probably breaks company law charging personal expenses to a company.

recyclebin · 30-09-2012 07:42PM

Deleted User wrote: »

Being paid for by the company? No they wouldn't care and nor should anyone. You can't list every expense a company has ever had as a public liability if it's nationalised afterwards.. It's illogical especially in the Quinn case since his losses didn't come from bad money losing management, they came from one massive bad decision.

The Quinns like to paint themselves as innocent normal people when in reality they were gambling billions and spending ridiculous amounts of money. I think the Irish are entitled to know what this family is really like.

Biggins · 30-09-2012 07:51PM

yore wrote: »

How would they feel if they found out that a director of Northern Rock, knowing the Bank was hurtling towards it's liquidity crisis (i.e not enough available cash to pay off their borrowings when they mature in 12 months or whatever) decided to spend the banks money on his daughters wedding. Including 100k on a cake.

Don't forget that it paid for the whole wedding. Not just a cake.

Anybody knpw how much BIK was paid by the daughter on this?

Quinn insurance was a ponzi scheme. Bernie Madoff and his family lived a
nice high-flying lifestyle until his collapsed.......do you think it'd be very "Irish" to criticise him for doing that? After all, sure the authorities didn't know there was anything wrong at the time. That's ok so, eh?

Employees drinking coffee me hole.

There's a good point in the above.

If the business was going down the pan, the last thing maybe they should not have been doing was using business money for personal gain outside standard business practises?

Swampy · 30-09-2012 08:04PM

I for one would have liked to tasted the said cake. I love cake. A 100k cake (price obviously includes private jet for transport) has got to taste awesome. If there were any raisins in it I would have a problem with the price tag.

Fulton Crown · 30-09-2012 08:48PM

These fuckin lowlifes are being continually outed.

Well done the Indo for continuing to boot their holes !:eek:

LookBehindYou · 30-09-2012 08:59PM

What about BUY IRISH ?
Surely they could have spent that money here.

Ronin247 · 30-09-2012 09:12PM

the culture of deference wrote: »

Anyone know why we are all paying a levy for this lot

We are paying a levy for this lot because our government decided that you and I should be liable for the gambling losses of a bunch of German and French bondholders in Anglo Irish Bank.
Sean Quinn bought shares in a private company and all his dealings were with a private company.....nothing to do with you and I.

Unfortunately I suspect that when Quinn gets his turn in court it will turn out that, due to the shenanigans of fitz and co, he is not liable for the 2.5billion or so, and then guess who will pick up that bill???? He will end up getting compensation for the receiver f***ing up his companies and guess who will pick up that bill also???

We the public will get shafted left and right while the politicians get richer and the crowd of thieves in Europe will keep laughing while we pay the bill.

Biggins · 30-09-2012 09:47PM

Ronin247 wrote: »

We are paying a levy for this lot because our government decided that you and I should be liable for the gambling losses of a bunch of German and French bondholders in Anglo Irish Bank...

We're giving them this week another €1.1 billion this week.

One third of what we are needing in the next budget!
Madness.

Ronin247 · 30-09-2012 10:11PM

Biggins wrote: »

We're giving them this week another €1.1 billion this week.

One third of what we are needing in the next budget!
Madness.

Thats ^ 11,000 wedding cakes.

and another 1.25 billion in january and 3.1 billion in march and they have us fighting each other over teachers getting an allowance for keeping an eye on our kids at break times, we are being f***ed right left and center and it will continue.

Biggins · 30-09-2012 10:53PM

Ronin247 wrote: »

Thats ^ 11,000 wedding cakes.

and another 1.25 billion in january and 3.1 billion in march and they have us fighting each other over teachers getting an allowance for keeping an eye on our kids at break times, we are being f***ed right left and center and it will continue.

...And yet although I think its right that the Quinns should be equally held accountable - what they cost the country (or will do), is far small to what we as a state is giving away!

There's no trying to comprehend the madness sometimes.

jimmynokia · 01-10-2012 07:26PM

Has anyone seen the dam cake?

Capt'n Midnight · 01-10-2012 07:47PM

kowloon wrote: »

Pretty sure a wedding cake for the daughter isn't a valid business expense. Probably got away without paying the reduce VAT for cake. €13,500 right there :pac:.

It was imported from outside the EU so perhaps some import duty to be added too ?

JazzyJ · 01-10-2012 07:48PM

ejmaztec wrote: »

All of the audit firms that I've worked for over the years wouldn't have allowed the company to claim it, and would have charged it to the relevant director.

Not if the auditors were turning a blind eye to dodgy dealings. It wouldn't be the first time (or will be the last :mad:).

bgrizzley · 01-10-2012 08:05PM

Capt'n Midnight wrote: »

It was imported from outside the EU so perhaps some import duty to be added too ?

maybe it was made from garlic...

kowloon · 01-10-2012 08:06PM

jimmynokia wrote: »

anyone got a photo of this cake?

Something along these lines.

Carson10 · 02-10-2012 01:32AM

A 100K cake in Cavan....f*k me. They deserve all they get.

Dermighty · 02-10-2012 01:34AM

She is fúcking ugly!

ejmaztec · 02-10-2012 01:40AM

Deleted User wrote: »

Yeh for hundreds and thousands

That's a trifling amount for a cake when you've got sh1tloads of cash.

magick · 02-10-2012 01:41AM

I like Cake!!!

Mr Simpson · 02-10-2012 01:42AM

On my current part time salary, it would take me 6 and a half years to earn enough money to pay for this cake, and thats if I wasn't paying tax. Thats just f*cking sick. I didn't realise I could hate Sean Quinn more

patwicklow · 02-10-2012 01:46AM

100k for a cake now thats sick as sick can be how many hungry children would 100k feed? Well very true saying what goes round comes round! reduced to bread and butter pudding if they can afford that now! They,v had there cake and eaten it! 100k bloody amazing...

Mr Simpson · 02-10-2012 01:47AM

patwicklow wrote: »

100k for a cake now thats sick as sick can be how many hungry children would 100k feed? Well very true saying what goes round comes round! reduced to bread and butter pudding if they can afford that now! They,v had there cake and eaten it! 100k bloody amazing...

They're not short on cash, and won't be any time soon.

patwicklow · 02-10-2012 01:50AM

mmcn90 wrote: »

They're not short on cash, and won't be any time soon.

Crazy Country we live in aint it!

FanadMan · 02-10-2012 02:47AM

Ted_YNWA wrote: »

So if the company paid for this 5 years ago, does that mean the taxpayer has paid for all expenses the business incurred ?

Stop the presses !!!!!!!

The tax payer has bought 6000 rolls of bogroll for Quinndirect staff !!!!!

At least those 6000 rolls of bogroll were put to good use, not like a cake worth 100 grand that was fed to other overpaid thieves and their families. Bet the staff of Quinndirect didn't see a crumb of the cake and neither did any of the people that had insurance with Quinn. And am damn sure that the taxpayers now wouldn't be too happy to see that the money they are now paying, helped to subsidise a waste of money cake - especially one that helped stuff the faces of other fatcats

Cookie_Monster · 02-10-2012 03:51AM

JustAddWater wrote: »

It happened 5 years ago and was charged to his company. Nothing wrong with that at the time

of course there. How can you possibly claim that that was a valid expense attributable to company operations?

patwicklow · 02-10-2012 06:44PM

I wonder if theres any slices left over? They can stick a file in it and send it to Quinn junior

Mr.Crinklewood · 02-10-2012 06:52PM

Terrible if this happened, but has anyone given evidence as to the actual cost ?

Biggins · 02-10-2012 06:56PM

Just published by the Irish Times five minutes ago:

Documents salvaged within the last few weeks from a damaged computer in Russia show the family of bankrupt businessman Seán Quinn had employment contracts with Russian companies providing for multi-million payments for termination of their employment, including almost €36 million each for Aoife, Ciara and Colette Quinn, the former Anglo Irish Bank has claimed.

The material also showed contracts providing termination payments of €26m for Peter Darragh Quinn, Mr Quinn's nephew, and almost €15m for his son, Seán Junior, the bank said.

Under other contracts dated June 15th 2011, with additions of July 26th 2011, Seán Quinn Junior's wife Karen Woods - at the time his fiancée - was to receive termination payments of more than €36m and an annual salary of about €560,000 , while Niall McPartland, husband of Ciara Quinn, had contracts for similar sums, it is claimed.

Some of the contracts were back-dated to make it appear they were signed before a court order was made on June 27th 2011, restraining the stripping of assets from the Quinn's international property group, the bank has also alleged.

Irish Bank Resolution Corporation, formerly Anglo, says this and other new evidence shows Seán Quinn Junior was a "key decision maker" in relation to management and control of Russian and other international companies at the centre of alleged asset-stripping measures.

http://www.irishtimes.com/newspaper/breaking/2012/1002/breaking52.html

In an affidavit, Richard Woodhouse of IBRC, formerly Anglo, said the "significant" new documents had been obtained by the bankruptcy administrator appointed in late July by it to Finansstroy, a key Russian company in the Quinn's IPG, from that company's computer damaged harddrive.

Anyone like to guess how or why the drive might have got damaged?

patwicklow · 02-10-2012 07:04PM

Just read that wow some corruption going on with in.

Biggins · 02-10-2012 07:06PM

patwicklow wrote: »

Just read that wow some corruption going on with in.

They are up to their necks in it!

Their supporters are sheer blind.

€100,000 wedding cake, billed to Quinn Company

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