Any chance we’d see Sean Fitzpatrick file for bankruptcy? He and his crooked friends are at the root of all the problems in banking in Ireland. At least Sean Quinn created hundreds of jobs. Sean Fitzpatrick just lined his own pocket with public money. And is still laughing all the way to the K club!

Had he been declared bankrupt in ireland south he would have been forced to stay out of business for 12 years because he declared it on northern ireland its only 12 months !

Sean should know in business you never put all your eggs in one basket. He gambled and he lost. Now he has egg on his face. Sean Fitzpatrick has a lot to answer for though. He courted Quinn when he new the bank was going under. Would like to see Fitzpatrick bankrupt and jailed!

Good of him to do it in Belfast, save himself from our laws. Must have talked to David Drumm, his old Anglo buddy, about ways around that old chestnut.

another martyr for old Ireland

Bankrupt my arse his wife and kids have it all transferred into their names. Is he still in the mansion driving the big fancy car. When I hear him on the council list and catching a bus then maybe he can be classed as bankrupt he should be made pay for his financial corruption with a sentence along with the rest of them. Instead of us paying money to bail out his mistakes I’d rather pay money to put him away

Brought down, like the rest, by pure and simple greed. Can’t really offer any sympathy. Don’t suppose he spared a thought for those who are now suffering hardship for those years when the financial services mafia had their snouts in the trough.

I think you’ll find that he is a native of Fermanagh.

Great, there’s his 2.8bn punt that we’re now saddled with completely. This sleveen must be laughing to himself, he’ll be out of this in a year with a clean sheet despite his appalling business ethics

On the same day as the presidential inauguration..what a coincidence!
He should have been made bankrupt here because Irish citizens
will be paying his share gambling debts for years to come!

Poor Sean, took a punt and it didnt work out.

I hope he succeeds in his court case so that way I can go to paddy power and reclaim all my losing bets….

Greed !

Usual level of attention to detail here. Fitzpatrick is bankrupt. Was declared so in the Republic . Living off his wife’s pension now… so mightn’t be too badly off.

I am originally from Fermanagh and am familiar with the Quinn family and actually used his business as part of my dissertation in 2000. In 2000 he was saying that he employed more than 5,000 people and he was aware of the responsibility that came with it. He stated that diversification was the key to his business to date and he wanted to continue. He recognised that he was moving on in years and didn’t want to pass the full responsibility of the business to his children, given the number of jobs at stake. He said he therefore wanted to float the business on the stock exchange. So how did he get from there to bankruptcy? A huge amount of blame has to be laid firmly at the door of Anglo and their auditors! Both parties used their position to sell a lie to Quinn and he jumped at the so called sure beat and took the gamble that he should never have taken. Before that he had been investing heavily in places like India, Russia, Turkey and China and indeed renewable technologies and I am sure he wishes he continued down that road. The sad thing is that many ordinary people in Fermanagh heard about the advice that Quinn was receiving in relation to Anglo shares being a sure beat and they also took the gamble and many are in a very bad financial position as a result. Either way there are no winners here, but it has to be acknowledged that he created a huge amount of jobs in a border county, which was totally ignored during the troubles and the challenge is now to retain them. Anglo & their auditors sold a lie, Quinn should not have taken such a gamble and the people that are really the losers in all of this are the employees both direct and indirect and of course the taxpayer. Already staff and local businesses are telling me that the administrators are doing some questionable things e.g. taking Quinn suppliers contracts off local businesses, switching them to more expensive Dublin businesses, who are then in turn sub contracting to Fermanagh businesses at a lower price than before. No matter what the big 4 accountancy practices get rich and fail to take responsibility of answer any questions in relation to their auditing or advisory activities during the boom.

Sean Quinn owed Anglo €2.8bn, obviously that could not be paid so the bank went in, took control of his company and forced him and his family off the board. The value of the Quinn Group is worth more than €2.8bn alone, so has he really not repaid what he owed. It is now up to the bank to split up the company and sell each bit on or run it themselves and make a substantial profit from a very profitable company.

Justice has been done in that light. What interests he has overseas his now his own business.

He has suffered badly in Ireland and is the only one of the high flyers of the good years to be held accountable. Then man got to big to quick and paid a heavy price. He built the company from nothing, created not 100′s but 1000’s of jobs right across the country. Give generously to charity without wanting acknowledgement.

Some of the comments here are really of bad taste, Sean Quinn took risk to continually grow business and to diversifies into different industries and to break up monopolies, create competition and to chase prices down. The man made mistakes but he should also be respected for bringing employment to really bad black spots in Ireland.

Judging from his picture it looks like his lecky has been turned off. He should have switched.

The best part in all this is that it shows us that his and everybody elses wealth was calculated, since the dawning of man, in his assets and not the cash in his bank account. Is this not the whole issue with the Celtic era wealth that it was all perceived wealth and not actual wealth.

Should this be a wake up call that we must approach thing differently now.

I heard from some friends that a person who owns a shop wanted to extend it and when he approached the bank with his business plan the simple question they had for him was

“should his expansion not bring in one single extra euro in sales could he repay his loan as he currently stood”

Why did we not use this approach years ago and build up the economy slowly and steadily. I know hindsight is great and I’m sure some commentators have already said the above this but is Quinn not a symbol of the Celtic era and it’s greed we all somehow part took in

If Cowen-Lenihan hadn’t stepped in and mortally wounded the tire economy and the vast majority of its citizens with the bank guarantee, Quinn’s problems would seen as unfortunate meriting a big spread on Sunday and then the story would have moved on. People make bad business decisions, make bad investment calls and can simply overestimate their reach. That’s far from uncommon. Personally, I think the demise of Quinn is regrettable. He built up a native Irish multinational in the teeth of opposition from vested industry interests. His achievements were many and they shouldn’t be forgotten.

Dishonesty in commerce – what is new? Further details by searching in Google for “Windle Stops Swindle”

A Chara

Srinivasan Devrajan, the Common Informer

Fair play to the government. He spent to long in bed with the last government and now we all must suffer

What a complete w@@ker take every penny and all his property off him t@sspot

What you say is true as far as it goes. Of course there are bigger villains in the story and the story has some way still to run. Quinn is exemplary in that his greed was the instrument of his downfall. Fitzpatrick would appear to be more culpable than Quinn in the dealings which led to these massive losses. A man with Quinn’s busines acumen cannot have been unaware that he was playing with “funny money” and was therefore accepting the risks. All the same this was massive, irresponsible gambling and the public should not be made to cover the losses any more than they should pay for some eejit backing a lame nag down at Paddy Power’s

maybe i’m wrong, but it seems to me that he built up his wealth over many years hard work with ‘real’ business, his only mistake was investing his wealth with anglo just before the collapse, the media are portraying him as the gambler not anglo. to my mind, fitzpatrick swindled him…

Begrudgers! Sean Quinn is a very decent and humble man. He created hundreds of jobs. He made one massive mitake and those of you who probably never took a risk in your life or created a single job now crow at his downfall. Only for people like Quinn you would be destitute.

May I quote the following from RTE news today, Monday November 14:
/quote
Mr Quinn applied to have himself made bankrupt in the High Court in Belfast on Friday.
In his petition to the court in Belfast – which was obtained by lawyers for IBRC this morning – he said he was doing this as the registered office and place of business of the Quinn Group companies was Derrylin in Co Fermanagh.
He also said he was domiciled for tax purposes in Northern Ireland and his tax affairs were conducted in the UK.
Senior Counsel Paul Gallagher for IBRC said they had evidence which contradicted Mr Quinn’s claim that his centre of main interest was in Northern Ireland.
IBRC claims that Mr Quinn consistently indicated that his home address was Ballyconnell in Co Cavan in the annual returns of 95 companies of which he was or is a director.
He does not hold any directorships with active UK companies the court was told.
/unquote

It would seem from this that Mr Quinn was not paying tax in the Irish Republic either. To compound his sins. Wealthy tax evaders are another disgrace in this democracy.

Not many people know this, but the fuhrer was an excellent dancer!