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

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 …

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Seán Quinn’s cunning plan…

As the BBC notes, Seán Quinn has told RTÉ’s Prime Time that he has a plan to repay the  €2.8 billion the Quinn family owes Anglo Irish Bank within seven years.  Some turnips may be involved… Not least of which is that, if this earlier BBC report is correct, there are two separate debts involved. A year ago, Quinn Cement announced that bulk production was being temporarily halted. The company told 65 workers not to return to work for a month. The …

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