Sean Quinn – coming up smelling of roses or something nastier?

Sean Quinn the quiet man originally from Derrylin in Fermanagh and NI’s only rep in the Sunday Times Rich List ( 12th overall) is probably the biggest name in Irish business, running a maze of companies at home or abroad over the last 35 years, based literally on the foundation of Fermanagh and Cavan quarry stone. Until recently worth around £3.5 billion, Quinn fortunes may be in the balance as he was intimately tied up with Anglo Irish bank. in the manner of others of the new Irish property and finance establishment, now rocking on their heels. Quinn is the subject of a careful article in the Irish Times, suggesting he could still make a packet , courtesy of Irish government takeover of the bank. In other words, courtesy of the Irish taxpayer.

Quinn and his group are known to owe the bank more money than any other individual or group of companies and it can be assumed that Quinn and his group have very large sums on deposit with the bank. The amount involved must be very large indeed, no doubt in the hundreds of millions and possibly a billion or more.

Quinn’s could become the paradigm story of the recession An NI Crunchtalk post hints it could go either way.


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