Pub GuideSean Quinn’s wife and children could face bankruptcy hearing to repay banks
Taxpayer owned bank vows to hunt down his riches
Larger Text
Print
E-mail
2 Comments
Anglo Irish Bank, the now wholly Irish taxpayer owned institution, plan to pursue the assets of Ireland's formerly richest man Sean Quinn, after he was declared bankrupt in the Irish High Court this week.
The onetime billionaire has acknowledged that his business career is over and his bankruptcy has been made official, however, the tussle between the bank and the former billionaire is far from over.
Now Quinn, 65, must supply a list of his assets and make himself available to the court appointed official who is charged with taking control of his financial affairs. Few now imagine Quinn will be in a position to pay back his massive debts.
___________
Read More:
Ireland’s former richest businessman Sean Quinn declared bankrupt in Dublin
Ireland’s former richest man Sean Quinn has Belfast bankruptcy status annulled
Ireland’s food and drink exports up by 12 percent
____________
Last November, he announced that he had assets worth less than $60,000 when he applied for bankruptcy at the High Court in Belfast.
Soured by the loss of his fortune and by attempts to make good on his debts, Quinn has often claimed that the Irish Banking Resolution Corporation (IBRC) are pursuing a personal vendetta against him.
In a statement to the Irish Times this week, Quinn said that the IBRC had 'achieved their goal of ensuring that I will never create another job.'
Currently, the IBRC are waiting for the court appointed bankruptcy official to investigate Quinn's affairs, in the hope of determining what assets, if any, can be recouped on behalf the Irish taxpayer.
In court documents that were filed last year in Cyprus, the bank alleged that members of the Quinn family were involved in a 'conspiracy' to move some of their property assets beyond the reach of the bank.
IBRC has filed lawsuits in the UK, Ireland, Sweden, and Ukraine to try to prevent the transfer of properties it claims are mortgaged to the bank.
The bank added its focus was to recover as much as possible from assets over which it had security.
2 Comments
See all comments
Report abuse
- Pope Benedict should not throw nuns under...
- Why the Catholic church is wrong, yet again,...
- Many moderate bishops oppose anti-Obama line...
- The Irish World War II shame - Irish soldiers...
- Notre Dame lawsuit on health law is a huge...
- Why a brain dead immigration policy is harming.
- Barry Manilow dismayed at how his Irish roots...
- Catholic Church lift ban and allow child...
- Loophole law could allow Irish priests to...
- Irish nun quits Catholic church after claiming.
- One Direction's Zayn Malik and Little Mix's...
- Channing Tatum shocked Rachel McAdams by...
- Cheryl Hines tweets of new life with RFK...
- Despite US and Australia success One Direction.
- Pope Benedict should not throw nuns under...
- Robin Gibb's last words saw him pay a touching.
- Irish woman carrying her father’s child claims.
- Little known Canadian actress Holly Deveaux...
- Lionsgate wants Robert Pattinson as star...
- Teenage sweethearts marry after 64 years...
- Pope Benedict should not throw nuns under...
- Want to live in a four-star luxury hotel...
- Many moderate bishops oppose anti-Obama line...
- The Irish World War II shame - Irish soldiers...
- Bobby Kennedy should be ashamed of himself...
- Teenage sweethearts marry after 64 years...
- Irish J1 students scammed out of $5,000 in...
- Joining a family’s evening Rosary - a spiritual
- Irish nun quits Catholic church after claiming.
- Ireland basks in summer sunshine as heatwave...
Most Recent Blog Posts
Report abuse