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Dublin: 13 °C Wednesday 17 September, 2014

Quinn support group calls for public inquiry into Anglo

Concerned Irish Citizens has reacted to the news that six executives at the Irish Bank Resolution Corporation earn over €500,000 annually.

Image: Sam Boal/Photocall Ireland

A GROUP SET up in support of the jailed former billionaire Seán Quinn and his family has called for an independent public inquiry into the former Anglo Irish Bank.

Concerned Irish Citizens said it was calling on all “political parties and individual public representatives” to demand an independent public inquiry into the bank – now known as Irish Bank Resolution Corporation – which is pursuing the Quinn family through the courts.

CIC said that any inquiry should include an examination of the “exorbitant and unjustifiable salaries, pensions etc” being paid to officials at the bank, an issue in the news this week after it was revealed six executives at the State-owned bank earn over €500,000 annually.

Tánaiste Eamon Gilmore has described these remuneration packages as “not acceptable”.

The support group claims that the same IBRC officials “turned down an offer of 2.8 billion from the Quinn family to the Irish state”.

The group’s secretary Patricia Gilheany said in a statement:

IBRC/Anglo has always insisted that they are acting in the best interest of the taxpayers for the maximum return of monies. Concerned Irish Citizens now seek clarification in line with constitutional rights on how much money has been recouped and is expected to be recouped in the Anglo strategy on Quinn, how much public money has been spent by Anglo on legal, PR and other associated costs and how much is expected to be recouped. Crucially, how does all of this compare with the 2.8 billion that was on offer from Quinn.

Quinn, once the richest man in Ireland, was jailed for nine weeks last Friday after he was found in contempt of court for failing to comply with court orders to put a halt to an asset stripping process involving the Quinn family’s property portfolio in eastern Europe.

IBRC has been pursuing the Quinn family through the courts both here in Ireland and in Russia in an attempt to recover assets that it says are owed to them because of the millions of euro in debt the Quinn family owe the bank.

Quinn has accused the IBRC of wrecking his company and pursuing a “vendetta” against him and his family.

CIC has organised rallies and protests in support of Quinn in his Cavan stronghold of Ballyconnell as well as Derrylin in Fermanagh earlier this week.

Read: Gilmore says €500,000 salaries for bank executives is “not acceptable”

Read: Motorists report being verbally abused at Seán Quinn protest in Derrylin

Read: Seán Quinn goes to jail for nine weeks

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