Seán Quinn group is largest debtor of Anglo Irish

irishtimes.com/newspaper/fro … 57234.html

Hmm, I posted something suggesting this might have been one of the reasons for the Anglo nationalisation yesterday. Shot down by Sceptic Crank.

Wonder when the media will notice that we now have TWO health insurers owned by the State (VHI and in effect Quinn Healthcare)… :angry:

As a taxpayer Quinn is not something I want to own. This is getting worse by the minute.

So finally the media are starting to get it …

I don’t understand why this is a surprise to anyone

Quinn group was the justification used by FF within political circles and finance for Anglo being included in the guarantee.

People wondered why quinn bought BUPA.
steady stream of cash
instant systemic risk for the country

have a big dose of pmpa anyone?

Have they fallen back significantly? Spike suggests they have, if not surely rose or jumped would be more appropriate.

The surprise for me is that Anglo might actually have an asset that could be worth a few bob!

Rather than fields all over the country which are now only good for grazing cattle.

Oh and a big hole in the ground in Chicago.

Great…

We all own the Ballsbridge site. What should we put there?

That’s Sean Dunne

If we transported the Chicago Spire hole to Dublin, say Ringsend, we could use it to hold waste - or even the rubble from demolished estates…

A Glass Bottle factory?

I’ve already posted this question but it is not appearing so apologies if its duplicated

Can some explain to me why these loans were written off so quickly. My understanding is that the Quinn family still own assets and have not been declared bankrupt as yet. Is it because the loans were given unsecured? Now with the nationalisation of Anglo does the tax payer just cover the cost of this investment mistake?

Here’s some more of the shite they loaned money to…

key questions remains unanswered - how much is SQ in the hole for to Anglo; what is the interest bill; is it being paid or rolled up; how much would a forced sail of the bits of the quinpire realise in this climate; to whom else does sq owe money (aib?)
good job that quinn insurance is under the eagle eye of the financial regulator…

no they stayed high. 250bp vs Greece 272. But we were 200bp thu. So …

Loans were advanced to the family members by “the group” i.e. Quinn Group itself, not Anglo.

Thanks for that

Quinn is one of them…so is Dunne…Fitzpatrick…

we need figures. 1b? 2b? how collatoralised ? Extent of lending by other banks to these (collatorized on the assets bought with Anglo money/shares)? Its unraveling…400b debt anyone?