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Seán Quinn

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and the goal was to establish whether the members of the Quinn family have complied with court orders to provide full details of their bank accounts and other assets. As it turned out, substantial sums of money had been paid by Russian subsidiaries of Quinn's real estate business to his children and other family members in 2011/12. For example, Colette Quinn received €340,000 after having allegedly signed a contract "without understanding it as it was in Russian" and having "had no documents indicating what work she was expected to do". She also admitted to being a director of "about eight Cypriot companies". Most of the money has allegedly since been spent, but no receipts were available to support that claim.
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together came to nearly two million euro "in a very strange way". In a judgement he said that they had made "substandard" disclosure of documents and directed defendands (except Brenda Quinn – not employed by any company in IPG) to make fuller disclosures about their "highly lucrative" contracts of employment with IPG companies. The full hearing was then parked pending legal proceedings against some former executives of Anglo Irish Bank.
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Seán Quinn Sr. has "done nothing to purge his contempt and reverse the asset stripping since the July 20th coercive orders were made". The bank was concerned that asset-stripping was still going on and that assets could be "irretrievably lost". Seán Quinn was sentenced by Ms Justice Elizabeth Dunne at the High Court in Dublin on 2 November 2012 to 9 weeks in jail, noting that "In my view he has only himself to blame."
170:(GAA). These contacts enabled him to build a company spanning both sides of the Irish border when, in 1973, he borrowed £100 and started extracting gravel from his family 23-acre (93,000 m) farm, washing it and selling it to local builders. The company was called Seán Quinn Quarries Ltd. From this came Quinn Cement, the basis of his wealth. In recent years Quinn diversified with his 501:. Quinn's involvement in the GAA was, in the words of one commentator, "a constant theme throughout the group". In the words of one associate, "The GAA forms a big part of Seán's life. Aside from that, he drinks the occasional jar in pubs in Ballyconnell and enjoys the odd game of poker." Quinn also donated land to Kildallan GFC, which was used in the development of a training field. 359:
On 10 January 2012 the High Court in Belfast annulled the Bankruptcy Order against Quinn, and later that day the High Court in Dublin agreed to expedite the hearing of a petition to render him bankrupt in the Republic of Ireland. He was declared bankrupt in the Republic of Ireland on 16 January 2012.
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Quinn Insurance had made losses of €905m in 2009, and €160m in 2010, and the Irish Government passed the Insurance (Amendment ) Bill 2011 which imposed a 2% levy on all other Insurance policies to meet an estimated €280m shortfall to the state's Insurance Compensation Fund. Because part of the losses
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The fines arose from a failure to notify the regulator of a loan of €288 million from Quinn Insurance to other firms in his group. The cash was used by the Quinn family to cover falling stock market investments and finance share-buying in Anglo Irish Bank. On the back of the fines, Quinn stepped down
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measures, after courts had earlier found that all three acted in contempt of orders restraining asset-stripping. Seán Quinn was not jailed as the judge agreed to a request by IBRC that he remain free to secure compliance with the coercive orders. However, representatives of IBRC have complained that
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Since the government liquidated IBRC in February 2013, the Quinn family has been thinking about a legal challenge to the constitutionality of the IBRC act. This act put an immediate stay on all existing legal proceedings against IBRC, including one brought by the Quinn family which claims that they
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Separately, Quinn's wife and children have started legal proceedings in Dublin in 2011 alleging that the €2.34 billion that he borrowed from Anglo-Irish Bank to buy the bank should not be repayable because the money was lent for the unlawful purpose of supporting the bank's share price. He has been
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Quinn took over the family farm in late 1967, after the passing of his father, Hugh, who had bought it for £2,000. A number of other local farmers had excavated gravel in the 1950s and 1960s--the land, while being agriculturally poor, was mineral rich. Farming had not made the family much money and
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On 7 March 2007, Quinn spoke publicly for the first time in 10 years at a conference at the Slieve Russell hotel organised by the Cavan County Enterprise Board, at which he outlined the strategic aims of the Quinn Group in the immediate future. As of April 2011 Quinn and the Quinn family no longer
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In July 2013 Mr Justice Peter Kelly of the High Court said that it was "simply incredible" to accept claims by five Quinn children and three of their spouses that they could not produce documents about their alleged employment by Russian companies. He said they had been paid "very large" sums that
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Quinn was released from Mountjoy Prison on 3 January 2013, although he had been allowed to attend the christening of his granddaughter in December. On 24 January, a two-day cross-examination began in court of all five adult children of Quinn. The cross-examination was conducted by lawyers for IBRC
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commented that – "A large percentage of insurance losses result from speculative gambling on the property market by the family and, in effect, the legislation provides for the transfer of those gambling debts on to the shoulders of hard pressed taxpayers and working people who need to insure cars,
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With Anglo Irish Bank's financial difficulties Quinn was pursued in 2010 for his loans from it, then about €2.8 billion secured on property worth much less. In April 2011 the loans were formally called, and an ongoing series of court cases are underway in several jurisdictions. In particular, his
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Throughout 2007 peaking in July 2008 Quinn increased his family's stake to 15% in Anglo Irish Bank. The bank along with all financial institutions in Ireland saw its share price collapse in the latter half of 2008, and on 15 January 2009 the Irish government announced it had taken control of the
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Quinn was sentenced at the High Court in Dublin on 2 November 2012 to nine weeks in jail, due to contempt of court. Quinn's son-in-law, Niall McPartland, successfully used "right to be forgotten" legislation to remove articles from internet search listings that highlighted their lavish lifestyle
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In 2012, Quinn was jailed for three months for contempt of court, having allegedly engaged in asset stripping, e.g., by arranging a payment of US$ 500,000 to the general director of Quinn Properties Ukraine, just before losing control of the company. Quinn lives with his wife and family in
131:(to which the Quinn Group owe over €2.8 billion) and took control of the Quinn family’s equity interest in Quinn Group. Sean Quinn and the Quinn family no longer have any role in the management, operations or ownership of the Quinn Group. Quinn was declared bankrupt on 11 November 2011 in 355:
However a check of the electoral register for County Cavan clearly showed Quinn registered as a resident of the Republic of Ireland, having a vote in all elections, obviously contradicting the evidence given to the Belfast Court that he was only resident in County Fermanagh.
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In 2008, Quinn Insurance was levied a record €3.25 million fine from the Financial Regulator in the Republic of Ireland with Quinn personally being fined €200,000. These fines were related to loans issued from Quinn Insurance to an associated company that he controlled.
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A large part of the subsequent loss can be linked to the well-publicised near collapse of the Anglo Irish Bank, which wiped out at least €2.8 billion of the family's wealth. Between October 2005 and July 2007 Quinn built up a 28% stake in the bank, mainly through
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from the board of Quinn Insurance and a number of other Quinn Group boards announcing plans to restructure the boards to reflect those of a public company. In March 2010 The High Court in Dublin ruled that Quinn Insurance should be placed into administration.
127:, which was then privately owned by the Quinn family, was elsewhere estimated to be worth between €4 billion and €5 billion. In 2007 the group made a pre-tax profit of £439m. In April 2011 Kieran Wallace of KPMG was appointed as share receiver to 119:
magazine's 2008 Rich List listed him again as the richest person in Ireland, in 164th place amongst the wealthiest individuals in the world. His net worth, as of February 2008, was estimated at $ 6.0 billion, approximately £3.084 billion.
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The Quinn Group liquidator's staff have said that since its liquidation in April 2011 an unusual amount of damage has been caused to the Quinn Group's property, and an executive's car was burnt out at his home.
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for Teemore Shamrocks. The team won the Fermanagh County Championship in 1969, the first for the club since 1935. The club won three more county titles in the 1970s, and Seán Quinn eventually captained the
1544: 270:"These loans breached insurance regulations and as a result of this the Financial Regulator has sanctioned Quinn Insurance and myself. I accept complete responsibility for this breach of regulation." 862: 352:
address in directors' filings for 95 companies and none in Northern Ireland (at the time, personal bankruptcies lasted for 12 years in the Republic, but only for 1 year in Northern Ireland).
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Quinn is married to Patricia, and they have five children. His children – Seán Jnr, Colette, Ciara, Aoife and Brenda – all work in the family business. His son, Seán Jnr, lined out for the
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In 2008 the shares or contracts for difference bought in Anglo Irish Bank dropped in value and the bank had to find a buyer for Quinn's shares. A group of clients known as the "
523:. Collette Quinn was also director of BOUVERIE NO.1 LIMITED Ultimate Holding Company QUINN PROPERTY INVESTMENTS LIMITED, Shareholder funds -£87,531,000 – now in liquidation 248:, a financial instrument used to gamble on the bank share price. Quinn admitted at the time in an RTÉ Prime Time interview that it had "set the company back 2 to 3 years". 344:, using an address in Northern Ireland, and he admitted debts of €194m. Within days the IBRC said it would challenge the Belfast application in the commercial court in 252: 1548: 909: 411:, the largest five-star hotel in Prague, in 2004. It paid €145 million for the 788-room Hilton and the Ibis Karlin. The group also acquired the Hilton Hotel in 970:"Two distinguished figures from the world of business conferred with honorary degrees by the national university of Ireland at NUI Maynooth – Press Release" 470:. In the 1960s, there was much poverty in the area and few diversions other than football, a pursuit at which Quinn spent much of his teenage years. He and 208:, for €150 million in a deal that saved BUPA from leaving Ireland's health insurance industry. In the same month Quinn increased his share holding in the 1283: 1571: 1161: 2058: 1310: 1874: 1767: 1607: 1466: 1846: 1057: 201:, it made €123 million profit in the first six months of 2006 (up 38% on the previous year), on sales of €386 million between January and June 2006. 2015: 1672: 1641: 255:" bought the shares, and, controversially (and illegally), the bank lent them €451 million to buy them. The €451 million was never repaid as the 212:
to approximately 5%, for an equivalent value of €570 million – financed through the group's equity and through a deal with the Swiss-based giant
1805: 450:'s asset recovery arm to enforce its claims. In Russia, IBRC is still struggling to establish its control over the Kutuzoff (or Kutuzov) Tower. 1736: 2078: 2053: 683: 446:, the IBRC has been trying to establish control over the Univermag "Ukraina" mall – so far unsuccessfully. In fact, IBRC has hired Russian 1972: 605: 174:
playing a leading role in Ireland's hospitality industry, setting up Quinn Hotels. The centrepiece hotel was the Slieve Russell Hotel in
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In July 2012, Seán Quinn, his son Seán Jr and Peter Darragh Quinn were served with around 30 coercive court orders intended to reverse
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are not liable for a €2.34bn loan made to Quinn by Anglo Irish. A court hearing on the validity of the stay has been set for 7 March.
2073: 256: 423:. In 2004 Quinn Direct insurance expanded into the UK motor and commercial insurance market. Quinn Direct Insurance sponsored the 340:, and issued a statement asking the media to consider his views as well as the bank's. The case was filed under his legal name of 1244: 734: 1906: 115:
in 2008 estimated his personal worth to be €4.722 billion or £3.73 billion, thereby making him the richest person in Ireland.
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It was found in late 2011 that some of the Swedish company's assets had been transferred to family-controlled companies in
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on 16 January 2012. He did not oppose the application. He owed over €2 billion to the Irish Bank Resolution Corporation.
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Quinn Financial Services, founded in 1996, includes the Quinn Direct insurance business. With its headquarters in
563: 480: 1581: 1287: 1165: 313:. The Quinn family described the allegations as "baseless and hardly deserving of comment". Other property in 2098: 513: 1884: 1775: 1615: 1474: 1360: 1314: 1270: 991: 2093: 1518: 559: 1744: 1703: 1680: 1649: 1083: 487: 471: 182:. He maintains interests in Ireland's glass, radiator and plastics industries with Quinn Glass, based in 167: 20: 305:, leading to a fresh round of litigation there. It was alleged by the liquidator that property owned in 277:
were caused by Quinn Insurance loans to fund speculative investments for other Quinn family companies,
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bank. Shares were trading for as little as 22c (from a high of €17 in May 2007) before the takeover.
635: 490:(GAA), Ireland's largest sporting and cultural organisation, a position he held between 1991–1994. 245: 687: 434:
The currently ongoing litigation about asset-stripping involves former properties of Quinn's in
2043: 1976: 613: 321:, that was 93% controlled from Sweden was the subject of further proceedings in December 2011. 111: 282:
homes and so on." The cost to Irish policyholders will come to €65m annually over five years.
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In January 2007 the Quinn Group purchased Ireland's second biggest health insurance provider,
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Rich List had estimated that the Quinn family's net worth took a major hit in 2008-09, with
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The Quinn Group had expanded into the hospitality industry overseas, with hotels in the
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IRISH BANK RESOLUTION CORPORATION LIMITED vs JOHN IGNATIUS QUINN A/K/A SEAN QUINN
539:, next to his Slieve Russell Hotel and just down the road from his birthplace in 475: 424: 412: 364: 310: 187: 1385: 811: 756: 166:, Quinn attributed his initial success to the contacts he developed through the 886: 505: 393: 389: 291:
overseas holding company, Quinn Investments Sweden, was wound up in July 2011.
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Peter became a financial advisor, and in 1990 he was elected President of the
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have any role in the management, operations or ownership of the Quinn Group.
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businessman and conglomerateur. In 2008 he was the richest person in the
1999:"Creditsafe – Global Company Credit Reports & Business Intelligence" 447: 309:
worth $ 193m had been sold to a cousin, Peter Quinn, for $ 1,000 and a
278: 1933: 1014:"RTÉ Business, "Seán Quinn taking over Bupa Ireland", 31 January 2007" 143:
before becoming bankrupt, along with key parts of Quinn's bankruptcy.
1851: 910:"Seán Quinn son-in-law says he made 'right to be forgotten' requests" 183: 1245:"Ireland's former richest man has fortune wiped out | Business" 1768:"Quinn family considers challenge to constitutionality of IBRC Act" 992:"Quinn Directs half-year profits increase 38% to 123 million euros" 840: 837:"Sean Quinn, once Ireland's richest man, is given 9 week jail term" 540: 532: 459: 397: 58: 435: 420: 337: 318: 1847:"News reports: Yanukovych tied to Ukraina shopping mall dispute" 1522: 1444:"BBC News – Anglo Irish Bank to challenge Sean Quinn bankruptcy" 1998: 439: 405: 401: 345: 306: 302: 1096:"Sean Quinn's family begin fresh court battle with Anglo bank" 1058:"Anglo Irish Bank shares 'were worthless' when it was rescued" 2025:
New York Times investigation of Quinn's labyrinthine business
1467:"State and IBRC no worse off after declaration of bankruptcy" 198: 1242: 259:
emerged, following which the bank was nationalised in 2009.
1311:"More Anglo debt cases begin in Kiev over Quinn properties" 684:"Quinn business thrives with profits of 430 million pounds" 443: 314: 205: 808:"Seán Quinn says IBRC has vendetta against him – RTÉ News" 710:"RTÉ, "Quinn group create 460 Welsh jobs", 16 August 2005" 636:"Sunday Times Rich List 2008 | Times Online Business" 1806:"Court finds 'substandard' Quinn disclosure in IBRC case" 735:"KPMG appointed as share receiver to Anglo in Quinn sale" 332:
On 11 November 2011, Quinn said that he had applied for
1572:"Quinn bankruptcy case set for Dublin court on Monday" 686:. Belfasttelegraph.co.uk. 9 March 2007. Archived from 676: 1282:
Carswell, Simon; Jansen, Michael (12 October 2011).
1188:"Dail debate on the Insurance (Amendment) Bill 2011" 194:
employed more than 5,500 people throughout Ireland.
285: 1967: 1965: 1963: 135:; this was annulled on appeal but he was declared 1547:. Northern Ireland Courts Service. Archived from 1497:"IBRC to challenge Quinn Belfast move – RTÉ News" 1361:"Arsonists damage Quinn executive's home and car" 1164:. Irishtimes.com. 10 October 2008. Archived from 964: 962: 294:In July 2011 Anglo Irish Bank was renamed as the 19:"Sean Quinn" redirects here. For other uses, see 2030: 802: 800: 235:replacing Quinn as Ireland's wealthiest person. 1960: 1608:"Court finds Quinn jnr's contempt 'outrageous'" 1338:"Wife and children join Quinn in court action" 1281: 959: 831: 829: 600: 598: 504:On 18 May 1999, Quinn was awarded an Honorary 238: 1519:"eReg: Register of Electors Online Enquiries" 797: 151: 1899: 1730: 1728: 1726: 1724: 1635: 1633: 1601: 1599: 826: 595: 512:. He also holds an Honorary Doctorate from 1844: 1335: 1243:Lisa O'Carroll in Dublin (14 April 2011). 1190:. Debates.oireachtas.ie. 27 September 2011 2059:Fermanagh inter-county Gaelic footballers 1907:"Russian giant goes after Quinns' assets" 810:. Rte.ie. 20 October 2010. Archived from 564:High Court of Justice in Northern Ireland 257:Anglo Irish Bank hidden loans controversy 106:, but in 2012 he was declared bankrupt. 1866: 1759: 1721: 1695: 1664: 1630: 1596: 779:"Sean Quinn declared bankrupt in Dublin" 729: 727: 577:"Sean Quinn declared bankrupt in Dublin" 1803: 1765: 1734: 1701: 1670: 1639: 1605: 1210:"Report on RTÉ website, September 2011" 1098:. BBC Northern Ireland. 2 February 2012 879: 757:"Seán Quinn declared bankrupt in court" 2031: 1931: 1336:Kilfeather, Vivion (11 October 2011). 930: 907: 404:. The Quinn Group took control of the 348:, alleging that Quinn had only used a 1872: 1569: 1464: 1408:"Mr Quinn's statement of 11 Nov 2011" 1358: 1308: 1088: 724: 325:joined as a third party in the case. 157:Quinn did not particularly enjoy it. 2079:Businesspeople from County Fermanagh 2054:Businesspeople from Northern Ireland 1845:Rachkevych, Mark (5 December 2012). 1838: 880:Brennan, Cianan (16 February 2022). 638:. London: Business.timesonline.co.uk 383: 223: 1704:"Quinn daughter has Dubai accounts" 1673:"Quinn describes prison as 'tough'" 1642:"Seán Quinn junior freed from jail" 937:. : Merrion Press. pp. 20–23. 908:Bowers, Shauna (15 November 2021). 137:bankrupt in the Republic of Ireland 13: 2022:The Fall of Ireland's Mighty Quinn 1766:Carolan, Mary (14 February 2013). 1140:"Quinn attacks administrator move" 863:"Seán Quinn right to be forgotten" 612:. 20 November 2005. Archived from 262: 14: 2115: 2069:21st-century Irish businesspeople 2064:20th-century Irish businesspeople 2049:Post-2008 Irish economic downturn 2016:QUINN-direct British Masters 2007 2009: 1975:. Archives.tcm.ie. Archived from 1938:. Merrion Press. pp. 17–19. 1735:Carolan, Mary (30 January 2013). 1702:Carolan, Mary (24 January 2013). 1671:Gleeson, Colin (3 January 2013). 1640:Carolan, Mary (19 October 2012). 1606:Carolan, Mary (25 October 2012). 737:. Postonline.co.uk. 14 April 2011 497:was also an important sponsor of 296:Irish Bank Resolution Corporation 146: 2074:Businesspeople from County Cavan 1737:"Quinn 'spent €327,000 in year'" 1465:Keena, Colm (12 November 2011). 1313:. Irishtimes.com. Archived from 1309:Keena, Colm (10 December 2011). 1286:. Irishtimes.com. Archived from 566:, Chancery Division, Case 133033 453: 286:Liquidation litigation from 2010 1991: 1925: 1873:Keena, Colm (3 December 2012). 1825: 1570:Keena, Colm (11 January 2012). 1563: 1537: 1511: 1489: 1458: 1436: 1400: 1378: 1359:Lally, Conor (10 August 2011). 1352: 1329: 1302: 1275: 1263: 1236: 1224: 1202: 1180: 1154: 1132: 1110: 1076: 1050: 1028: 1006: 984: 924: 901: 855: 771: 186:, and Quinn Lite Pac, based in 160:In an interview with Ireland's 1804:Carolan, Mary (10 July 2013). 1521:. Cavancoco.ie. Archived from 1284:"Irish Times, 12 October 2011" 749: 702: 658:"#164 Sean Quinn & family" 650: 628: 569: 553: 427:tournament there in May 2006. 98:(born 5 December 1947), is an 1: 994:. Irishtimes.com. 7 July 2006 546: 16:Irish businessman (born 1947) 415:. In 2005 the group bought 7: 1212:. Rte.ie. 13 September 2011 1120:. BBC News. 24 October 2008 1082:Sunday Times, 20 July 2008 972:. NUI Maynooth. 18 May 1999 488:Gaelic Athletic Association 239:Anglo-Irish Bank investment 168:Gaelic Athletic Association 21:Sean Quinn (disambiguation) 10: 2120: 2089:Teemore Gaelic footballers 1973:"The Sunday Business Post" 1499:. Rte.ie. 14 November 2011 1388:. Rte.ie. 11 November 2011 1269:Irish Times, 6 July 2011; 1230:The Merchant, 8 June 2010 1036:"The Sunday Business Post" 759:. Rte.ie. 11 November 2011 514:Queen's University Belfast 152:Foundation and early years 18: 1386:"RTÉ report, 11 Nov 2011" 1016:. Rte.ie. 31 January 2007 419:hotel and golf course in 81: 73: 37: 30: 2104:People from Ballyconnell 1142:. BBC News. 2 April 2010 712:. Rte.ie. 16 August 2005 610:The Sunday Business Post 246:contracts for difference 1932:Birney, Trevor (2022). 1446:. BBC. 14 November 2011 1118:"Quinn Insurance Fined" 931:Birney, Trevor (2021). 466:, near the border with 112:Sunday Times Rich List 481:Fermanagh county team 123:In November 2005 the 2099:People from Derrylin 690:on 30 September 2007 521:Fermanagh minor team 334:voluntary bankruptcy 163:Sunday Business Post 94:, commonly known as 2094:Former billionaires 1778:on 14 February 2013 1477:on 16 November 2011 1424:on 19 November 2011 1317:on 12 December 2011 350:Republic of Ireland 342:John Ignatius Quinn 104:Republic of Ireland 92:John Ignatius Quinn 42:John Ignatius Quinn 1887:on 5 December 2012 1747:on 30 January 2013 1652:on 7 November 2012 1618:on 25 October 2012 1584:on 11 January 2012 1551:on 14 January 2012 1290:on 12 October 2011 1162:"Quinn Steps Down" 869:. 6 November 2021. 814:on 17 January 2012 664:. 11 February 2008 458:Quinn was born in 417:The De Vere Belfry 190:. 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Index

Sean Quinn (disambiguation)
Derrylin
County Fermanagh
Northern Ireland
Irish
Republic of Ireland
Sunday Times Rich List
Quinn Group
Anglo Irish Bank
Northern Ireland
bankrupt in the Republic of Ireland
Sunday Business Post
Gaelic Athletic Association
Quinn Group
Ballyconnell
County Cavan
Fermanagh
County Longford
Quinn Group
Cavan
Bupa Ireland
Anglo Irish Bank
Credit Suisse
Denis O'Brien
contracts for difference
Golden Circle
Anglo Irish Bank hidden loans controversy
Clare Daly
Irish Bank Resolution Corporation
Cyprus

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