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Quinn Family Sues Irish State for €4.5bn

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http://www.irishtimes.com/business/sectors/financial-services/quinn-family-sues-state-for-4-5bn-for-loss-of-businesses-1.1837417

Quinn Family to sue state for €4.5bn!

More taxpayers' money......just when we thought this country might have been turning a corner...

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tritium

Dartz wrote: »

Correct me if I'm wrong, but wasn't he the recipient of an illegal loan?

Didn't the bank loan him money, to invest back in the bank itself?

The illegality would seem to be uncertain based on the defence preferred in the recent Anglo trial

porsche959

From some of the posts in this thread, you'd think case was already decided and the court had found in favour of Quinn for the full amount.

folan

porsche959 wrote: »

From some of the posts in this thread, you'd think case was already decided and the court had found in favour of Quinn for the full amount.

boards.ie posters in hyperbole shocker!

EyeSight

ScumLord wrote: »

I think this case could be interesting though. Up until now it's been the state pointing fingers and diverting the attention onto all their former allies. Now the people they burned are making their counter move and I expect the dirty secrets to come out in this round.

to be honest I can't take any more. Every trial or inquiry shows more corruption and horror stories. Yet no real punishments or changes occur.
Like the guards, my morale is at an all time low

Collie D

EyeSight wrote: »

to be honest I can't take any more. Every trial or inquiry shows more corruption and horror stories. Yet no real punishments or changes occur.
Like the guards, my morale is at an all time low

Unlike the barristers who must be raking it in every time some dodgy developer/banker sues another one when neither allegedly have any money

meoklmrk91

The gall of the Quinns is something to be marvelled at. If I said what I really wanted to say then I would be at the very least be carded.

Xivilai

dodderangler wrote: »

Sure we don't have 4.6 billion

We left it in our other pants

unkel

He'll go down in history as the greediest man who ever lived.

Mr_Red

ScumLord wrote: »

I think this case could be interesting though. Up until now it's been the state pointing fingers and diverting the attention onto all their former allies. Now the people they burned are making their counter move and I expect the dirty secrets to come out in this round.

Interesting

P_1

Usually I'm not one for foreigner bashing but would that pr*ck ever p*ss off back to his own country and leave us alone.

woodoo

Sure we can go one more austerity budget for poor aul hard done by Sean can't we.

LostInLM

foxtrot101 wrote: »

Can all those who have had to pay that 2% levy on their insurance policies since Quinn Insurance went belly up sue the Quinns? Its cost 126 million so far and could run to 1.64 billion over 25 years.

Re Quinn Insurance vs government owned vhi, spot the difference!

http://www.centralbank.ie/press-area/press-releases/Pages/SettlementAgreementbetweentheCentralBankofIrelandandQuinnInsuranceLimited(UnderAdministration).aspx

http://www.irishexaminer.com/ireland/health/eu-court-rules-vhi-must-beef-up-its-reserves-by-300m-169139.html

minidazzler

It would be no great loss if they had a series of unfortunate deadly accidents occur. scum by any other name.

carpejugulum

FTA69 wrote: »

"because he's one of our own".

sponger like them

flutered

could the baldy one take the advice he gave on a vid clip, and zip the goverments pockets

flutered

this will run for quite a while, the legal profession has to keep taking and taking, well their history says so.

cloud493

Sure we can have a whip round.

RobbingBandit

cloud493 wrote: »

Sure we can have a whip round.

Nah, that only works for Bertie. What the **** would a family let alone one man do with €4.6 billion?

cloud493

Make a fortress of money to sit in and laugh at the poor people?

Iwasfrozen

RobbingBandit wrote: »

Nah, that only works for Bertie. What the **** would a family let alone one man do with €4.6 billion?

Invest it. Clearly.

RobbingBandit

Iwasfrozen wrote: »

Invest it. Clearly.

That worked out so well the last time, lock these ****ers up, him his parasite kids and that nephew of his too, this is the real world not a game of monopoly or ducktales. :pac:

Iwasfrozen

RobbingBandit wrote: »

That worked out so well the last time, lock these ****ers up, him his parasite kids and that nephew of his too, this is the real world not a game of monopoly or ducktales. :pac:

Lock them up for what?

thebaz

CB19Kevo wrote: »

The state is primarily at fault for the whole fiasco.
Regulator should be held to account,Thats not to say Quinn has clean hands in this situation.

The state is the people of Ireland - those responsible for the disaster are the last government , the Bertie & Brian Cowen lot - sadly now Fianna Fail are the largest party once again in ireland - absolutely blame the previous regulator , who conveniently saw nothing . Quinn and his family have far from clean hands in this whole farce - In the Ireland of today , its like the criminal are the innocent , and the wronged the guilty.

Tail Docker

RobbingBandit wrote: »

That worked out so well the last time, lock these ****ers up, him his parasite kids and that nephew of his too, this is the real world not a game of monopoly or ducktales. :pac:

One in which no one makes billions? Which world is that?

aboysham

Brian Lenihan fired Neary (to hide the bodies), hired Elderfield (friend of international bankers) who then shut down Quinn insurance.

Lenihan should be dug up and hung on the bars of the Dail (pour encourage les autre).

Neary should be questioned then drowned.

Elderfield should face the court to explain why Quinn insurance were the only under provisioned Irish insurance company worthy of being terminated post haste.

People should be delighted that this court case is happening given that the terms of reference in the "banking inquiry" are going to be too restrictive.

There are many that should hang before Quinn.

thebaz

aboysham wrote: »

There are many that should hang before Quinn.

Is Quinn not the Irish state biggest Debtor ?

I respected him somewhat early on , but the way he and his family have tried to hide money owed to us the beleaguered/bankrupt Irish state , I find nauseating - followed by a campaign bordering on terror - to put it mildly my opinion on this supposed decent man has changed.

aboysham

thebaz wrote: »

Is Quinn not the Irish state biggest Debtor ?

I respected him somewhat early on , but the way he and his family have tried to hide money owed to us the beleaguered/bankrupt Irish state , I find nauseating - followed by a campaign bordering on terror - to put it mildly my opinion on this supposed decent man has changed.

Quinn became the biggest debtor only because the insurance company was terminated by a proxy arm of the Government, let's look forward to the court case.

Why did Quinn prop up Anglo? At whose behest?

gctest50

RobbingBandit wrote: »

Nah, that only works for Bertie. What the **** would a family let alone one man do with €4.6 billion?

Small potatoes compared to this sort of stuff :

Amancia Ortega

Net Worth $65.6 Billion

*(change today) $1.1 Billion

*Reflects changes since 5pm EST last trading day

http://www.forbes.com/profile/amancio-ortega/

thebaz

aboysham wrote: »

Quinn became the biggest debtor only because the insurance company was terminated by a proxy arm of the Government,

I'm no expert on the matter , but if I recollect Quinn insurance ran out of money , which would have meant its customers , many including me, would have not been covered by ther premium. The government I don't think had any choice but to terminate Quinn insurance as it was..

aboysham

thebaz wrote: »

I'm no expert on the matter , but if I recollect Quinn insurance ran out of money , which would have meant its customers , many including me, would have not been covered by ther premium. The government I don't think had any choice but to terminate Quinn insurance as it was..

In a normal world you would be correct, except you were covered, from an insurance point of view, as is everyone since the PMPA debacle.

The question you should ask is why Quinn Insurance was treated as an exception.