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Happy Days Are Here Again !


Andrew49

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Seán Quinn group pays out €200m to his five children

The €200 million payment to Quinn family members was made in the course of 2008 and was taken from shareholders’ funds at the company. Mr Quinn’s five children – Colette, Seán Jr, Ciara, Aoife and Brenda – each own one fifth of Quinn Group, which controls the bulk of the family’s business interests. A spokesman for the company said the payment was made “to facilitate the development of their independent wealth portfolios”.


SOurce


Happy Days Are Here Again !



[video=youtube;gqsT4xnKZPg]http://www.youtube.com/watch?v=gqsT4xnKZPg[/video]
 
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cyberianpan

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It is also worth looking at this IT story also

IT
The Quinn Group’s ability to service debts to Anglo Irish Bank has significance for the public purse, write COLM KEENA and UNA MCCAFFREY
...
The Quinn Group has already, over the 2007 and 2008 years, written off up to €888 million arising from the family’s disastrous Anglo engagement. We don’t know, but it would be fair to suspect, that a large part of the €200 million taken from the group by the family last year in dividends went towards financing the family’s bank debt.

The whole Anglo/Quinn affair is the focus of a number of inquiries, including ones by the Financial Regulator, the Office of the Director of Corporate Enforcement and the UK Serious Fraud Office.


Very murky area

cYp
 

Andrew49

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It is also worth looking at this IT story also

IT
The Quinn Group’s ability to service debts to Anglo Irish Bank has significance for the public purse, write COLM KEENA and UNA MCCAFFREY
...
The Quinn Group has already, over the 2007 and 2008 years, written off up to €888 million arising from the family’s disastrous Anglo engagement. We don’t know, but it would be fair to suspect, that a large part of the €200 million taken from the group by the family last year in dividends went towards financing the family’s bank debt.

The whole Anglo/Quinn affair is the focus of a number of inquiries, including ones by the Financial Regulator, the Office of the Director of Corporate Enforcement and the UK Serious Fraud Office.

Very murky area

cYp
Maybe the €200 million will encourage Colette, Seán Jr, Ciara, Aoife and Brenda not to have any children !
 
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Design for Life

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So five people have been given two hundred million Euros while people on modest and low incomes - even below 80-100k- are threatened with job loss after job loss, pay cut after pay cut as well as public services getting cut (which affects everybody in society), people reliant on Social Welfare payments of €204 a week to live are told to tighten up their belts - Christmas is cancelled for them -

If ever there was evidence that there needs to be taxes imposed on wealth in this country this is it.

Income levy's hitting the lower paid....we need to introduce a wealth levy
 

Fing Fers

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I used to think Quinn was a good man, employing lots of people, keeping it real in Cavan. Over the last year I've had my doubts, I'd say this is nothing to do with distributing wealth within a family, it sounds like a blatant attempt to avoid the tax man, we all know the Cavan man jokes, they must be true.
 

Malcolm X

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All heriditory privilege should be abolished. We will never have equality of opportunity if the rodent offspring of Quinn are born into such wealth while others start with nothing.
 

Fing Fers

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All heriditory privilege should be abolished. We will never have equality of opportunity if the rodent offspring of Quinn are born into such wealth while others start with nothing.
I know someone who's been handed down a house, an old one in need of modernization. Before he can be given legal title of the house he has to pay some inheritance tax on the property, after he pays the tax he wont have enough to fix up the property, he has to take out a mortgage to cover the short fall, you can more of less say he is taking out a mortgage to pay for inheritance tax.

Then you here this story, 200 million, only in Ireland.
 

Cassandra Syndrome

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I used to think Quinn was a good man, employing lots of people, keeping it real in Cavan. Over the last year I've had my doubts, I'd say this is nothing to do with distributing wealth within a family, it sounds like a blatant attempt to avoid the tax man, we all know the Cavan man jokes, they must be true.
He is a right villian. Way back in the past I admired his rag to riches story. Then I had indirect dealings with one of his companies on a business level. Screw you for every single last penny.
 

eire_sai

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I know someone who's been handed down a house, an old one in need of modernization. Before he can be given legal title of the house he has to pay some inheritance tax on the property, after he pays the tax he wont have enough to fix up the property, he has to take out a mortgage to cover the short fall, you can more of less say he is taking out a mortgage to pay for inheritance tax.

Then you here this story, 200 million, only in Ireland.
Oligarchs get to inherit tax free. Such is the shambles of the Celtic Banana Republic.
 

Cassandra Syndrome

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Oligarchs get to inherit tax free. Such is the shambles of the Celtic Banana Republic.

Its a horrible system. The small people get screwed, and the oligarchs are in bed with the people that make the rules.
 

SAHM

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It is also worth looking at this IT story also

IT
The whole Anglo/Quinn affair is the focus of a number of inquiries, including ones by the Financial Regulator, the Office of the Director of Corporate Enforcement and the UK Serious Fraud Office.

Very murky area

cYp
And the UK Serious Fraud office are very serious indeed
 

Andrew49

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Poor Mr Quinn, it appears he's down to his last €50,000. Source

Mr Quinn made a successful bankruptcy application to the Belfast High Court and his worldwide assets are now under the control of the Official Receiver in Northern Ireland.
 

supermac2

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All heriditory privilege should be abolished. We will never have equality of opportunity if the rodent offspring of Quinn are born into such wealth while others start with nothing.
get your facts right sean quinn started with nothing
 

Andrew49

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Sean makes business buzz. He challenged the CRH monopoly – and succeeded.

Sean was fed up with paying excessive insurance on his lorries, so he founded Quinn Direct and built the most successful insurance business in Ireland.

Sean bought 20 per cent of Conor O’Kelly’s live-wire stockbrokers, NCB (once owned by Dermot Desmond, but where the enterprise culture still survives), and has since seen them challenge stuffy establishment brokers Davy and Goodbody.

In January 2007 Sean bought 5 per cent of an Irish bank. Not blue-chip BoI or AIB. Sean targeted the anti-establishment Anglo Irish Bank – and spent €570m buying its shares.

This genius, who started his business life selling sand and gravel from his family’s Fermanagh back garden, has combined being a champion of the customer with making a mint.

A logical step for a man with heretical instincts, a healthy force for revolution in Irish business.
Sean Quinn - We Salute You
 

culmore

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Are the PSNI investigating the affairs of this group from the Northern side
 

Truth.ie

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Poor Mr Quinn, it appears he's down to his last €50,000. Source

Mr Quinn made a successful bankruptcy application to the Belfast High Court and his worldwide assets are now under the control of the Official Receiver in Northern Ireland.
No bother. It's still only 20 cents to open at his local card school.
This will mean he's unable to claim benefits though.
 

hammer

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How is the Revenue investigation into Quinn Group going, the one mentioned on Prime Time ?
 

Andrew49

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In a submission to the High Court in Belfast just before Christmas, Quinn said he had been "contacted by HM Revenue & Customs, indicating that they wish to investigate the tax implications of historic benefits-in-kind identified in my tax returns.

"I do not anticipate this will give rise to a claim," he said confidently. LINK
 
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