Thats exactly the point Peter-You would have not had to contribute one red cent if the proposal that was submitted by Quinn had not been inappropriately eliminated without consideration by people with their own agenda.

The truth will “out” and you may be very surprised.

Is that you messing Leo ?

Yawnnnnnnnn!

If you are tired Peter, go back to bed. Looks like you dont have much contribution to make anyway

I hope the Irish state, through IBRC, manage to unfurl the Quinn family web of deceit, the myriad of hidden assets and cash. It’s our money. No sympathy for the reckless millionaire and his wealthy children.

My sympathies lay with the real victims of the last 4 years – the jobseekers, the emigrants, those with special needs or serious medical complaints, those who battle daily to keep their children fed and warm.

Patricia, Every so often I see your posts and they are adding abolutely nothing to anything. How exactly is the IRBC decimating the Quinn Group? I have search for Job Loss announcements over the last two years and can only find 9 redundancies in some obscure part of the group but lots of expressions of fears of job losses, none of which have materialised, the recent posts on blog by Concerned Irish Citizens (who ever they are) only concerns the current court actions between SQ and family & IRBC so no new info there!

The reality is this, Sean Quinn started a sucessful concrete business and over the years expanded into other businesses, glass, hotels bars etc. All relatively straight forward businesses where it was in the most part easy to make money and provide employment in large numbers to skilled, semi skilled and unskilled persons and good luck to him on that. He then decided to start his own insurance company because to pharaphrase him ” he was not getting insurance that he could live with” nothing wrong with that either. While all businesses have duties towards their employees, customers and suppliers an insurance company by its very nature has a much higher duty towards its customers as the whole point of insurance is that it is available to cover a loss. Quinn operated a very aggressive claims culture which is fair enough as it has to protect from fraudulent claims and fulfill it duties to its employees etc. However in doing this it certainly engaged in very questionable practices. As an insurance company has to have sufficent funding to cover its payouts there are certain capital and reserve requirements in terms of accounting figures and in terms of absolute figures (money in the bank). Certainly management at Quinn group did not seem to abide by this as the profits from the insurance company were used to subsidise/ fund the other companies and other Quinn ventures. If you want to put a very simple context on that think of a country town solicitor who also happens to run a guest house. The guest house is losing money so our solicitor raids the practice client account for funds to keep the client account afloat. As there is alsway money in or out of the client account the solicitors hope is that they will never get caught short( in other words have to pay out all of the monies that he holds for clients). In a way this is what Quinn insurance had done with the money it was supposed to have held in reserve in its insurance business. That is the root of the predicament that Aean Quinn now finds him self in. Everything after that is a consequence of thoses actions!