Tim Healy– 18 July 2013
THE Department of Finance and Central Bank conspired with Anglo Irish Bank in relation to its advancing more than €2bn in loans to Quinn companies for the unlawful purpose of propping up its share price, it has been alleged in the Commercial Court.
The alleged conspiracy involved the department arranging for documents from Anglo to be “significantly amended” to disguise the true extent of the department’s knowledge about what was happening in relation to the loans, the family of bankrupt businessman Sean Quinn has claimed.
Had the regulators done their duty and not encouraged Anglo’s actions, these illegal loans would not have been advanced, Anglo “would have gone to the wall” much more quickly and the Quinns would not have been exposed to claims for €2.34bn, Martin Hayden SC, for the Quinns, said.
He was applying for orders joining the department and Central Bank, in their capacity as regulators, as co-defendants with Anglo in the Quinns’ action denying liability…………
full article at source: http://www.independent.ie/irish-news/courts/quinns-claim-central-bank-conspired-with-anglo-29429511.html
By Thomás O Cléirigh
Remember this ?
These scoundrels must face the music one way or another we the people of Ireland must get justice!This activity is called “Insider Trading” and is illegal and all who took part in it must be brought before the courts otherwise we are just living in a Be-NAMA Republic and I do not accept this!
Quinn took part in this obvious illegal act, and was happy to do so when he thought he was going to benefit from it! So no tears from me for him! He just got caught holding the baby! , and is it any wonder when he was dealing with gangsters like the two lads in the tapes above?
While I am on topic where are the other inner circle members (Golden circle) who were also involved in this little scam???
By Matt Cooper
Friday, October 19, 2012
IT WOULD have been hard-hearted not to have felt at least some sympathy for Seán Quinn if you had watched him shed tears on the stage of the protest rally at Ballyconnell in County Cavan last Sunday.
This was what he had been reduced to: once a billionaire, reputedly the richest man on the island, now a bankrupt. The man who felt he could give everything to his children — and didn’t he try, in a financial sense at least? — seeing his son languishing in jail, something he now possibly faces himself. But that’s enough sympathy. He doesn’t deserve any more than a mere thought of it.
So if there are there are tears today when Seán Quinn senior discovers if he is or is not to be sent to jail for contempt shown against previous High Court orders, just remember this: the family have nobody to blame for their problems but themselves.
Take no notice of angry declarations either of the type of the nonsense uttered last Sunday by Quinn’s brother Peter (father of Peter junior, too cowardly………………………………
full article at source:http://www.irishexaminer.com/opinion/columnists/matt-cooper/quinns-crocodile-tears-dont-change-facts-hes-unbelievable-211278.html
By Thomas O Cleirigh
I stayed up late last night to look at Vincent Browne there was a piece about the Quinn Insurance Group and there were two members of the Family on the panel. I just don’t know why we the ordinary citizens even have to put up with the crap and the mind-boggling excuses these two people were giving .every person in Ireland who has to take out insurance will now have to pay another 2.5% more on each policy for the next 12 years or more as a result of the miss management (at best) (I prefer to call it fraud) of the Quinn insurance with the appearance of 1,650,000,000 Euros black hole in the company’s finances. If fraud is proven then somebody must go to Jail!
But I am betting nobody will be found to be responsible and the family will just walk away leaving the rest of us pay the bills. Sean Quinn’s aspersion that he and members of his family were forced on to the Dole is just an insult to the intelligence of every Irishman and woman.
The full rigors of the law must be enforced on all those who would assume they are above the law .Yesterday I also heard that over 6000 people were sent to Jail because of non payment of fines where the justice in the Irish Law when Quinn and his pack can seemingly do as they please. If the Irish cops are not up to the task then the Government should call in the FBI or Scotland Yard fraud squad and establish where all the assets that now rightly belong to the Irish people.
By hiding their choice assets we the ordinary citizens are paying for their continued Jetsetter lifestyles. These are not the actions of heroes but rather self-serving leaches living off the backs of the taxpayers of this country .I have to pay my own debts and I cannot expect the people of Ireland to pay for a Jet set lifestyle or loss of my living standards so why are the Quinn Family any different??? Make no mistake the Quinn’s are just the tip of the iceberg.
see link to Video clip of talk show: http://www.tv3.ie/3player/show/41/51969/1/Tonight-with-Vincent-Browne
see also : http://www.bbc.co.uk/programmes/b01hr80j
interview with Sean Quinn and among the questions we ask him are whether he was reckless in his management of the Quinn Direct Assuran…
This clip is really worth viewing so do hang in there and do look at it
see link : http://www.tv3.ie/3player/show/41/51511/1/Tonight-with-Vincent-Browne
I am just too sick to comment! Quinn is just in denial and the Irish tax payers are left as usual to foot the bill, while he and the rest of his family get paid by NAMA their “living expenses” .This guy tried to hide asses that were supposed to be collateral for loans he used to purchase Anglo Irish Bank CFD’s.
The High Court has approved the payment of monthly living expenses totalling almost €30,000 to the five adult children of bankrupt businessman Sean Quinn and three spouses.
The court extended an injunction, on an application by the former Anglo Irish Bank, over Karen Woods, the wife of Mr Quinn’s son Sean Quinn jnr, preventing her from disposing of any assets in Ireland or abroad below the value of €50 million.
Mr Justice Peter Kelly also directed her to disclose all assets and bank accounts in her name on or before August 13th. She must also disclose any actions taken by her to put assets beyond the reach of the bank, which is now known as Irish Bank Resolution Corporation
full article at source: http://www.irishtimes.com/newspaper/breaking/2012/0731/breaking17.html
see also http://www.irishtimes.com/newspaper/finance/2012/0726/1224320827603.html?via=rel
Instead of going to Jail these crooks are getting paid ,What a country!What can I say ,you just could not make this up ,Living in this banana republic is a health hassart .Wake up Ireland and get these leaches off our backs !
THE sight of thousands of people marching to support for disgraced businessman Sean Quinn has been described as “deeply depressing”.
Bankrupt Quinn was defiant last night as he rolled out a line of GAA celebrities, including Mickey Harte, Colm O’Rourke and Sean Boylan, to address up to 4,000 people in Cavan.
But a former Dublin GAA chief has sharply criticised the top sports figures for giving public support to the embattled Quinn business dynasty.
Fine Gael Councillor John Bailey, who was chairman of Dublin GAA’s County Board for 11 years, said today he was “shocked” by the support of GAA figures for Sean Quinn.
And Dublin TD Olivia Mitchell said: “I have absolutely no sympathy for the Quinn family
full article at source: http://www.herald.ie/news/gaa-celebs-slammed-for-backing-quinn-as-4000-turn-out-for-rally-3183936.html
Unbelievable 4000 thousand people come out and support a family whose members were convicted of trying to defraud the Irish citizens of millions. If anyone of these Gom***** just read this information they should ask themselves what in God’s name were they thinking of? It is because of people Like Quinn and the corrupt corporate system in Ireland we are now saddled with the Troika and loss of our National financial independence. We are stuck with a generation if not more of penal taxes and he and his family will not be visiting a dole office anytime soon .I wonder how many of these fools are languishing on the dole? Don’t they know they are paying for this man’s greed and gambling debts??? Until we, the Irish people stop supporting, Corruption, Gombeenisem, stroke politicians ,parish-pump conmen and gangsters we will only stay in the depressed state we are now in .God I was hoping we were as a people were now waking up and copping on to ourselves, but I was obviously wrong! These 4000 people either cannot read or are just plain stupid! This is an affront to every Irish taxpayer !
By AMARY CAROLAN
“mesmerisingly complex” scheme devised by bankrupt businessman Seán Quinn and members of his family to put multi-million assets beyond the reach of the former Anglo Irish Bank and “to feather their own nests” is the largest and most devious seen to date in the Commercial Court, a judge said today.
Mr Justice Peter Kelly said he has presided over the Commercial Court since 2004 and regrettably was having to deal more often with cases involving “national and international fraud, sharp practice, chicanery and dishonesty”. However, he had never seen anything like the conduct in this case.
He made the remarks when granting an application by Irish Bank Resolution Corporation, formerly Anglo, for appointment of Declan Taite as receiver over the worldwide assets of various Quinn family members and over various foreign companies allegedly involved in the asset stripping scheme and based in Belize, Panama, Russia and United Arab Emirates. The Quinns consented to those orders.
full article at source:http://www.irishtimes.com/newspaper/breaking/2012/0725/breaking46.html
It’s been quite a few weeks since NAMA initiated legal action in Dublin but yesterday the Agency was back in action at the High Court where an application was made against 11 individuals. The case reference is 2012/7029 P and the objects of NAMA’s attention this time are the following – Elaine Flynn, James Flynn, John Flynn Snr, John Flynn Jnr, Merlin O’Reilly, Patrick O’Reilly, Rita O’Reilly, Sarah O’Reilly, Michael O’Reilly, Peter Wilson and Philip Dinkel. As is usual with recently-made applications, there are no solicitors on record shown for the respondents. The Flynns have developed commercial property in Ireland and the UK, often in partnership with other major developers like the McCormacks and the Kellys.
The plaintiff is both NAMA and National Asset Loan Management Limited and both are represented by Matheson Ormsby Prentice, the law firm which apparently told Anglo that loans extended to the Sean Quinn children to buy shares in the bank were lawful. The inclusion of NAMA in the plaintiff may indicate the matters to be examined are serious.
full article at source: http://namawinelake.wordpress.com/2012/07/18/nama-sues-11-individuals-in-dublins-high-court/
Yesterday a judge in Belfast’s High Court handed down two judgments in the latest installment of what is becoming the Quinn Family Saga, being played out on both sides of the Border, with ongoing concurrent actions in both Belfast and Dublin. The first of the latest Belfast judgment concerns itself with what IBRC – formerly Anglo – says was an attempt to put assets, which were properly to be used to offset Sean Quinn’s massive debts to the bank, beyond the reach of the bank. At the heart of it is a shopping centre in Kiev,Ukraine which IBRC is after to offset against Sean Quinn’s outstanding loans. The shopping centre in Ukraine owes USD 45m to a Quinn company in Ireland, a company which is now controlled by IBRC after the appointment of receivers last year
full article at source: http://namawinelake.wordpress.com/
Image via Wikipedia
By Davis Mc Williams
The European debt crisis is moving swiftly to the next phase following the downgrade of France and the collapse of the Greek negotiations with its creditors last Friday night.
It is becoming increasingly obvious that there will be no deal in Greece. This is good news because it means the end of the pass-the-parcel-ponzi-scheme, whereby the bill for more and more institutional debt was passed on to more and more innocent people who had nothing to do with the debt in the first place.
Greece will default – as it should. The bondholders will get roasted – as they should – for making bad investments. The laws of capitalism will be allowed to do their thing. Debtors and creditors will pay – as they both should – with both parties sharing the cost.
Whether this leads to Greece being pushed out of the euro remains to be seen. An opportunistic play by a desperate Greek government might be a total default, followed by the reintroduction of a new currency and then the restart button is hit. Initially, it would be an international pariah, but over time it would recover.
Full article at source:http://www.davidmcwilliams.ie/2012/01/16/irish-banks-will-shrink-and-shrink
Last November I approached the Bank of Ireland for a loan to purchase a commercial building just off Dame Street in Dublin .The purchase price would be around 800,000 Euro of which I was prepared to put up 200,000 cash so I would be needing 600,000 thousand euro .The Building has 150,000 rental income .The current owners are in up to their necks in Debt to an English bank I believe for 4.5 million euro and the English bank wants out at any cost ,hence the price tag of 800,000 Euro .The bottom line is the bank told me that I was not going to get the loan as they themselves do not have the money. I am now living in Lubeck in Germany and a GERMAN friend who works at a local company on an adverage wage, has just taken out a loan to buy a property in one of the best retail streets in the town it is a huge old building and he bought it for 200,000 Euro he is going to put another 100,000 into it and I can say that he will do very well out of it. I will be helping him to renovate the building for the next year. I am currently looking for my own opportunity but the point is I will have an opportunity to do something as the German banks are still business friendly. Not to mention the prices for property here are far more realistic. Ireland and her banks have a long way to go before they reach rock bottom!
Best wishes Machholz.