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Sean Quinn Back in Business




stanley

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If your almost sure you'll point me in the direction of the evidence that Jr was withdrawing money via bank machines prior to being made redundant. Talking sh!te again Stanley.

Ciara Quinn says she withdrew

"Ciara Quinn said she had no records or receipts of the fees being paid, as she generally handed the cash to her brother Sean Junior or sister Aoife, who then paid the lawyers".


As good as there is little difference.

IBRC: Clear deficiencies in information given by Quinn family - Newstalk

"One issue of concern is the whereabouts of documents outlining what happened to the rent rolls from certain Russian property assets. The bank alleges Sean Quinn Junior held a significant role in these transactions involving.

They claim his disproportionate income when compared to Russian employees (around 10-to-1) 'leads to the inference his role was one of control at the highest level rather than subordination as Sean Quinn Junior suggests' Mr. Murphy said.

He said there was some evidence from the family that large ATM withdrawals from Russian bank accounts were used to pay legal fees but receipts were not submitted.

IBRC's concern is policing court orders from 2011 stopping the Quinns from stripping assets in their International Property Group".


Junior might not have time to get to the ATM, so he had his sisters do it instead.


Give us our bread ... | Irish Examiner

"Over a period of a year at the most, probably much less, the five adult offsprings of Sean Quinn, and two male in-laws, withdrew over €2m from ATM machines in this state. They just walked up with their visa debit cards, as if they were your average bank customer, stuck it in the wall, and waited. Then did it again. And again ".
 

Timeandagain

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That's all after the group was taken over. There's nothing about SQ using ATMs to withdraw vast amounts of money prior to being made redundant. Which is wat today's article was discussing. It's an unfair dismissal claim. You do understand that?
 

stanley

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That's all after the group was taken over. There's nothing about SQ using ATMs to withdraw vast amounts of money prior to being made redundant. Which is wat today's article was discussing. It's an unfair dismissal claim. You do understand that?
Oh, that's all right then, its just the timing that is wrong, Timeandagain.

It does seem all rents from Russ/UKR properties were directed far away from any Quinn operation and not used to reduce borrowings but then again the Judge will sort that out.
 

Timeandagain

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Oh, that's all right then, its just the timing that is wrong, Timeandagain.

It does seem all rents from Russ/UKR properties were directed far away from any Quinn operation and not used to reduce borrowings but then again the Judge will sort that out.
Err in relation to the unfair dismissal case, yeah the timing is kind of important. If you can't see that, well we'll just leave it at that.
 

stanley

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Seán Quinn jnr

"The tribunal heard that Mr Quinn began working for Russian companies Finanstroy and Logistica in May 2011 for a total salary of €400,000 a year, but never told administrator Michael McAteer even though he was still on the payroll of Quinn Insurance.

Mr Quinn was asked about the locations abroad shown for a Blackberry phone at around this time. He said the phone was one he got in addition to his normal phone at one stage, so he could communicate by email while on the road, but it had not been in his possession when data showed it had been in Germany, the UK, Russia and Ukraine on dates alluded to by Mr Power.

He didn’t know who had it at that stage, and hadn’t known it was missing until the issue had been raised in the context of the tribunal hearings. “I don’t know who had the phone,” he said.

Mr Quinn said he was currently unemployed but “I believe I am close to recommencing”. He said had been ordered by a court to return the money he received in Russia".


Just how much money was Junior on, it appears he was doing very little at QI and should have been out on his arse the same day McAteer walked in.

Court has very little chance of a Quinn returning monies, eaten bread soon forgotten.
 

Timeandagain

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Seán Quinn jnr

"The tribunal heard that Mr Quinn began working for Russian companies Finanstroy and Logistica in May 2011 for a total salary of €400,000 a year, but never told administrator Michael McAteer even though he was still on the payroll of Quinn Insurance.

Mr Quinn was asked about the locations abroad shown for a Blackberry phone at around this time. He said the phone was one he got in addition to his normal phone at one stage, so he could communicate by email while on the road, but it had not been in his possession when data showed it had been in Germany, the UK, Russia and Ukraine on dates alluded to by Mr Power.

He didn’t know who had it at that stage, and hadn’t known it was missing until the issue had been raised in the context of the tribunal hearings. “I don’t know who had the phone,” he said.

Mr Quinn said he was currently unemployed but “I believe I am close to recommencing”. He said had been ordered by a court to return the money he received in Russia".


Just how much money was Junior on, it appears he was doing very little at QI and should have been out on his arse the same day McAteer walked in.

Court has very little chance of a Quinn returning monies, eaten bread soon forgotten.
They tried that and hence this case. This case has nothing to do with Quinns returning money. It's about whether the administrators acted legally in dismissing Jr. Which I don't believe they did. But we'll soon see.
 

macedo

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I don't think that's what they are claiming actually. The Quinn children are claiming that Anglo put money through their companies to support the bank and prevent it from falling. Their father invested / gambled 700 million on the CFDs , they are not claiming for this, it was subsequent to this that Anglo put 2.3 billion in to cover margin calls to save the bank. They are arguing that they do not have to pay this back , as at the time Anglo apparently had a power of attorney over the CFDs and were in control of the CFDs. They are also claiming that Anglo falsified documentation , lied about what the money was for and 2 years later tried to get them to sign documents to say they had received legal advice after the fact. They also testified at the Criminal Trial, that they never met or spoke to anyone from Anglo and never asked for any loans personally or through their companies. Whether they will be able to prove any or all of this will be interesting.
With all respect I think there's some very fuzzy facts in that scenario. There's a good quick summary at BBC News - What are the facts in the Sean Quinn case?

The disputed loans may well prove to have been illegal. But even if they were the Quinns were happy to sign up to them as a means of bailing Sean Quinn out from the CFD disaster which was entirely of his own making.
 

Timeandagain

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The Quinn's claim they never requested the loans and never met with Anyone from Anglo. SQ may have been happy to agree the loans but whether the Quinn family was is still disputed.
 

Caster

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With all respect I think there's some very fuzzy facts in that scenario. There's a good quick summary at BBC News - What are the facts in the Sean Quinn case?

The disputed loans may well prove to have been illegal. But even if they were the Quinns were happy to sign up to them as a means of bailing Sean Quinn out from the CFD disaster which was entirely of his own making.
That is a very good summary of what Anglo / IBRC is saying all right.
It would be very useful if Mr Fitzpatrick would do a similar summary of what the Quinns are saying.
 

Socratus O' Pericles

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https://www.irishtimes.com/news/ireland/irish-news/sean-quinn-tells-meeting-of-desire-to-return-to-run-his-former-business-1.3604537

Mr Quinn, the son of a farmer who later went on to become a billionaire and Ireland’s richest man, was jailed for nine weeks for contempt of court in 2012.
He and his son Sean jr, were jailed for their part in continuing to put assets beyond the reach of the Irish Bank Resolution Corporation after the former Anglo Irish Bank seized the Quinn Group in 2011.
Last month, the action by Seán Quinn’s wife Patricia and members of her family denying liability for some €2.34 billion in loans advanced by Anglo to Quinn companies was provisionally set for January next year.

What do Cavonians see in this rather dubious character? Milk and honey? One of their own? Nationalist angle?




Where’s PETEY these days?
 

Jack O Neill

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stanley

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The Quinn's claim they never requested the loans and never met with Anyone from Anglo. SQ may have been happy to agree the loans but whether the Quinn family was is still disputed.

Some joke this statement now as sceptre and crown came tumbling down.
 

Lumpy Talbot

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No
Odd how there is the concentration on loans from Anglo to Quinn.

I distinctly recall that after the Quinn Group was effectively seized there were reports that serious money had been distributed among Quinn's children (hundreds of millions were mentioned), and this would have been at a time when Quinn was under the spotlight for the Anglo gambling.

I recall because it reminded me of the Haugheys. And how Haughey's kids continued to benefit in a remarkable way from Anglo as well as they received loans via Anglo as the bank was going to the wall.

There seemed to be a last minute sale on loans at Anglo in the lead-up to its inevitable gotterdammerung.
 

Lumpy Talbot

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No
The family may not get away with the 'I signed anything put in front of me. I'm an eejit like that,' defence as that has already been tried and I think failed in the courts.
 

stanley

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I think you'll find my statement was completely accurate. That's exactly what they claimed.
Yes it was, stranger than fiction,with the defence offered, the lawyers must have known it would all collapse quickly, SQ's final public bluff.

Reckon the chase for assets will continue for a long time.
 

stanley

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"Other venues in Sean Quinn's former hospitality chain include the Slieve Russell Hotel in Co Cavan, Buswells Hotel on Molesworth St, Dublin, close to the Kildare Street entrance to Dáil Éireann, as well as the Barge pub on Ranelagh Bridge, and JW Sweetmans, formerly Messers Maguire pub near O'Connell Bridge".

Flog the lot, it's all State monies now.
 

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