Bankruptcy – Slugger O'Toole

Aventas: “These scandalous attacks orchestrated by a small group of criminals and their equally criminal sponsors…”

Pete Baker on February 12, 2014, 3:15 pm

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As the BBC reports, Lagan Cement Group has suffered damage of more than 1m euros (£820,000) in three separate attacks. The attacks followed the announcement that Lagan was buying, subject to approval, Rooftiles in County Fermanagh from the Aventas Group. The arson attacks at Lisburn, County Antrim, Comber, County Down, and Carrigtwohill, County Cork, are reported to have occurred since the Feb 4 announcement of the sale of Rooftiles, which is based in Derrylin, to the Lagan Group. The Aventas …

“Sean Quinn didn’t invest in Anglo Irish Bank, he bet on it”

Pete Baker on August 1, 2012, 2:09 pm

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As the cost of the adminstration of Quinn Insurance mounts, and to the sound of u-turns from ill-advised supporters of the bankrupt Sean Quinn, BBC NI business editor, Jim Fitzpatrick, sets out the facts in the case of the former billionaire. Here are a few key points Sean Quinn didn’t invest in Anglo Irish Bank, he bet on it If all he’d done was buy shares, his losses would have been limited. But Sean Quinn chose a dangerous financial instrument …

Sean Quinn: “We felt it was the right thing to do and we still feel it was the right thing to have done…”

Pete Baker on July 29, 2012, 5:24 pm

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The jailing of his son and nephew was supposed to be “a practical way” of procuring compliance with the court orders to reverse the contempt of court in putting assets beyond the reach of the former Anglo-Irish Bank, now the state-owned Irish Bank Resolution Corporation (IBRC). Instead, the bankrupt Sean “I am not dishonest” Quinn snr has embarked on an unapologetic PR campaign. Whilst his still ‘on the run’ nephew, Peter Darragh Quinn, has been reportedly photographed with his father at a GAA match in …

“a scheme of mesmeric complexity, reeking of dishonesty and sharp practice”

Pete Baker on July 25, 2012, 8:44 pm

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With Sean Quinn jnr in jail, and Peter Darragh Quinn ‘on the run’, there’s been another development in the long-running battle between the Quinn family and the former Anglo Irish Bank, now state-owned Irish Bank Resolution Corporation [IBRC], over the €2.8billion the IBRC is owed. From the Irish Times report Mr Justice Peter Kelly said he has presided over the Commercial Court since 2004 and regrettably was having to deal more often with cases involving “national and international fraud, sharp practice, chicanery …

Sean Quinn son and nephew jailing “a practical way” of procuring compliance

Pete Baker on July 20, 2012, 11:11 pm

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Well, we’ll see. Having been given three weeks to reverse their contempt of court in putting assets beyond the reach of the former Anglo-Irish Bank, now the state-owned Irish Bank Resolution Corporation (IBRC), the bankrupt Sean “I am not dishonest” Quinn snr, his son Sean, and his nephew Peter Darragh Quinn have failed to convince the court of their compliance with the court orders. As a result Sean Quinn jnr and Peter Darragh Quinn have been jailed for three months. Miss Justice Elizabeth Dunne ruled later, …

Quinn Contempt Case: “The judge will look again on 20 July at their co-operation with the Irish Bank Resolution Corporation”

Pete Baker on June 29, 2012, 7:40 pm

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In Dublin High Court, Ms Justice Elizabeth Dunne has delayed the issue of what penalty to impose on bankrupt Sean “I am not dishonest” Quinn snr, his son Sean, and his nephew Peter Darragh Quinn, to give them the opportunity to reverse their contempt of court in putting assets beyond the reach of the former Anglo-Irish Bank, now the state-owned Irish Bank Resolution Corporation (IBRC). From the BBC report At the High Court in Dublin on Friday, Ms Justice Elizabeth Dunne warned she …

Sean Quinn: “I am not dishonest.”

Pete Baker on June 26, 2012, 2:29 pm

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Dublin High Court, however, disagrees, finding the bankrupt Sean Quinn snr, his son Sean Quinn, and his nephew Peter Darragh Quinn in contempt of court for putting assets beyond the reach of the former Anglo-Irish Bank, now the state-owned Irish Bank Resolution Corporation (IBRC). From the BBC report In her ruling, Judge Elizabeth Dunne described Peter Darragh Quinn’s evidence as “evasive, uncooperative and, at times, untruthful.” She said he gave the impression that he would do anything to put assets beyond …

“As a British citizen I have always objected to being forced into bankruptcy in a foreign jurisdiction…”

Pete Baker on June 17, 2012, 6:34 pm

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Sean Quinn isn’t the only high-profile individual to have a UK bankruptcy ruling annulled by the courts. As the BBC report notes The British bankruptcy of Tom McFeely, an IRA hunger striker turned developer, has been annulled by a court in London. Mr McFeely had failed to disclose all relevant details in his application. He is one of Ireland’s most controversial property developers – one of his apartment blocks was so shoddily built its residents had to move out over over …

Sean Quinn Declared Bankrupt in Ireland

Pete Baker on January 16, 2012, 1:34 pm

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Having succeeded in having Sean Quinn’s bankruptcy status in the UK annulled, the Irish Bank Resolution Corporation (IBCR), formerly Anglo Irish Bank, today applied to have Mr Quinn declared bankrupt in Dublin High Court. Mr Quinn did not oppose the application. On Friday evening there was another attack on Mr Quinn’s former business headquarters. That occurred just days after the UK bankruptcy annulment and one day after it was reported that Quinn Wind Energy Ltd had also been placed into administration. And the Irish …

Belfast High Court Annuls Sean Quinn Bankruptcy

Pete Baker on January 10, 2012, 12:10 pm

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As the BBC reports, in the latest instalment of the continuing complicated legal battle between Sean Quinn and the Irish Bank Resolution Corporation (IBRC), formerly Anglo Irish Bank, Belfast High Court has ruled that Mr Quinn is not entitled to declare himself bankrupt in the UK. He can, however, apply for bankruptcy in Ireland. From the BBC report At the High Court on Tuesday Mr Justice Deeney found in favour of the bank, annulling the bankruptcy. He found that a lease for an office in …

Sean Quinn’s wife ordered to repay €3million loan

Pete Baker on December 16, 2011, 2:15 pm

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In the latest instalment of the continuing complicated legal battle between Sean Quinn and the Irish Bank Resolution Corporation (IBRC), formerly Anglo Irish Bank, Sean Quinn’s wife has been ordered to repay an over €3million loan which she had personally guaranteed. Patricia Quinn’s lawyers had argued that she had been ‘unduly influenced’ by her husband into signing the loan agreement. Mrs Quinn said it was her habit to sign documents put in front of her by her husband or his colleagues in the …

IBRC: “Today’s Commercial Court judgment gives clear, unambiguous recognition to the legal obligations of Mr Quinn…”

Pete Baker on November 28, 2011, 9:12 pm

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Following last week’s order to repay loans of almost €417 million that Sean Quinn had personally guaranteed, today the Dublin Commercial Court added additional loans worth over €1.6 billion to the bill. The ruling was made at the Commerical Court in Dublin. The total involves 1.52bn euros, $589m and 13 billion Japanese yen. Mr Quinn did not attend the proceedings. The official receiver in charge of Mr Quinn’s bankruptcy in Northern Ireland indicated he would be making no application to challenge the order. …

[Bankrupt] Sean Quinn ordered to repay €417 million

Pete Baker on November 23, 2011, 5:21 pm

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As noted on Monday, the Dublin Commercial Court ruling on on an application by the Irish Bank Resolution Corporation (IBRC) for the repayment of €2billion in loans which had been personally guaranteed by Sean Quinn was due today. And RTÉ reports the outcome The amount Mr Quinn has been ordered to repay is the largest summary judgment amount ever entered in the courts here against an individual. Mr Justice Peter Kelly granted the order for almost €417m as it relates to sums …

Sean Quinn’s statement of affairs to NI Court ‘appeared to be unsatisfactory’

Pete Baker on November 21, 2011, 7:31 pm

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That’s according to reported comments by lawyers for the Official Receiver in Northern Ireland who, following Sean Quinn’s application for UK bankruptcy, is currently in control of Quinn’s worldwide assets. The comments were made during a Dublin Commercial Court hearing on an application by the Irish Bank Resolution Corporation (IBRC) for the repayment of €2billion in loans which had been personally guaranteed by Sean Quinn. From the RTÉ report The Irish Bank Resolution Corporation told the Commercial Court the action for judgment should go …

Irish Bank Resolution Corporation [formerly Anglo Irish Bank] to challenge Sean Quinn’s UK bankruptcy application

Pete Baker on November 14, 2011, 2:58 pm

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Interesting development in the continuing complicated legal battle between Sean Quinn, and family, and the artists formerly known as Anglo Irish Bank [now the Irish Bank Resolution Corporation (IBRC)]. On Friday Sean Quinn was declared bankrupt at the High Court in Belfast despite, as the BBC report puts it, “the majority of the 64-year-old’s holdings and debt being from the Irish Republic.” The application to be declared bankrupt in the UK came just days before a Dublin Court was due to hear an application …

Court orders Independent TD to repay over €19m debt

Pete Baker on October 10, 2011, 9:52 pm

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Independent TD Mick Wallace has been ordered to repay ACC Bank €19,166,680 for personally guaranteed loan facilities made between 2004 and 2008 for his development company, M & J Wallace Ltd, which is in receivership. As the RTÉ report notes The order for summary judgment means the bank can now take steps to recover the money. The court was told the money relates to five loans granted to Mr Wallace’s company, M & J Wallace, which is in receivership. The loans were …