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 Post subject: Re: Fuck the Recession Quinlan - Chaaarrggge!
PostPosted: Mon Jan 26, 2015 7:09 pm 
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Quinlan has sure engineered a lot of wealth creation opportunities - for other people


Lone Star checks into Jurys Inn with £680m offer - FT.com http://on.ft.com/1wxWuJV via @FT

Quote:
Lone Star checks into Jurys Inn with £680m offer

Jurys Inn became the latest target for Lone Star on Monday when the US distressed-debt investor swooped on the Irish and British hotel chain, ending years of debt restructuring at the company that was straddled with leverage at the height of the property boom.
The sale, which values Jurys Inn’s 31 hotels at £680m, will return just under four times the equity invested in a 2013 restructuring by an eclectic group of investors including the sovereign wealth fund of Oman and a New York investment fund.

Jurys Inn was first acquired in 2007 just before the property market crash by a private equity fund founded by Irish property investor Derek Quinlan for £791m, with loans from a handful of Irish banks.

In 2008, Quinlan Private sold a 50 per cent stake to the Oman Investment Fund, one of the fund’s first investments, but along with other Irish property groups, Jurys Inn’s debts quickly soured during the downturn.
The restructuring wiped out £300m of liabilities and saw RBS, the company’s biggest lender, acquire a stake alongside the Omani fund and Mount Kellett Capital, a US investment fund set up by two former Goldman Sachs executives. The £120m cash injection left Jurys Inn with £240m in remaining debt


interesting fellow this McGoldrick (Mount Kellett guy)

http://www.wsj.com/articles/SB118740076313301636


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 Post subject: Re: Fuck the Recession Quinlan - Chaaarrggge!
PostPosted: Thu Jul 09, 2015 1:56 pm 
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Derek Quinlan ‘did not forsee property crash’ until 2008

https://www.irishtimes.com/business/fin ... -1.2278973

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 Post subject: Re: Fuck the Recession Quinlan - Chaaarrggge!
PostPosted: Thu Jul 09, 2015 3:59 pm 
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Ahh FFS.
He's using the old 'I would have gotten away with it were it not for those pesky Lehman Brothers' excuse.

Also ...
Quote:
Mr Quinlan left Ireland in 2009 when he was 61. He said it was a “very painful move” as he had a young family here. The move was designed to maximise the return for his creditor banks and was based on advice from KPMG.
Remaining in Ireland would have resulted in “substantial tax to be paid on gains”, he added. Mr Quinlan initially moved to Switzerland.
.

Except ...

Quote:
In documents released to London’s High Court, Nama representatives had said Mr Quinlan had informed them he went to Switzerland to be out of reach of writs and summonses from his creditors.


http://www.irishtimes.com/business/commercial-property/quinlan-denies-fleeing-to-switzerland-to-avoid-creditors-1.509781

Anyone taking him to task on his utterances ?


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 Post subject: Re: Fuck the Recession Quinlan - Chaaarrggge!
PostPosted: Thu Jul 09, 2015 8:56 pm 
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mr_anderson wrote:
Ahh FFS.
He's using the old 'I would have gotten away with it were it not for those pesky Lehman Brothers' excuse.

Also ...
Quote:
Mr Quinlan left Ireland in 2009 when he was 61. He said it was a “very painful move” as he had a young family here. The move was designed to maximise the return for his creditor banks and was based on advice from KPMG.
Remaining in Ireland would have resulted in “substantial tax to be paid on gains”, he added. Mr Quinlan initially moved to Switzerland.
.

Except ...

Quote:
In documents released to London’s High Court, Nama representatives had said Mr Quinlan had informed them he went to Switzerland to be out of reach of writs and summonses from his creditors.


http://www.irishtimes.com/business/commercial-property/quinlan-denies-fleeing-to-switzerland-to-avoid-creditors-1.509781

Anyone taking him to task on his utterances ?


Slow day today so I stuck this on in the back ground

https://inquiries.oireachtas.ie/banking/hearings/derek-quinlan-former-executive-chairman-founder-of-quinlan-private/?v=video

It seems they can't ask Quinlan any questions relating to his relationship with NAMA.

I must say, overall it makes for fairly depressing listening. It reflects poorly on the politicians. They struggle with simple constructs e.g. when asked to clarify a question on the approx. 57% Nama haircut Higgins and 1 other member couldn't explain what they. At one stage he had to explain to them the benefit of leverage on equity returns.

Compare this US senate hearings where you will find politicians there who are extremely well versed in the areas they are discussing, most will be highly educated and have a level of subject or industry expertise.

Having said that, given both are meant to be representative democracies, the lack of expertise on the Irish members behave is probably more reflective of the wider society. I can assure you that education & industry knowledge of US politicians is not reflective of the wider populace.


Edit - FFS, it gets even worse.

I quote "Were there any investments which had no risk?" XX


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 Post subject: Re: Fuck the Recession Quinlan - Chaaarrggge!
PostPosted: Sat Jun 03, 2017 5:31 pm 
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Posts: 501
He's baaaaack....!

Quote:
One of the biggest names from the Celtic Tiger era, financier Derek Quinlan, is on the cusp of making a dramatic return to the European property market after assembling a consortium to buy an office tower in Brussels in a €1.2bn deal.

http://www.independent.ie/business/comm ... 83999.html


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 Post subject: Re: Fuck the Recession Quinlan - Chaaarrggge!
PostPosted: Sat Jun 03, 2017 6:12 pm 
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bokonon wrote:
He's baaaaack....!

Quote:
One of the biggest names from the Celtic Tiger era, financier Derek Quinlan, is on the cusp of making a dramatic return to the European property market after assembling a consortium to buy an office tower in Brussels in a €1.2bn deal.

http://www.independent.ie/business/comm ... 83999.html



They haven't gone away you know


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 Post subject: Re: Fuck the Recession Quinlan - Chaaarrggge!
PostPosted: Sat Jun 03, 2017 6:35 pm 
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Inis Man wrote:
bokonon wrote:
He's baaaaack....!

Quote:
One of the biggest names from the Celtic Tiger era, financier Derek Quinlan, is on the cusp of making a dramatic return to the European property market after assembling a consortium to buy an office tower in Brussels in a €1.2bn deal.

http://www.independent.ie/business/comm ... 83999.html



They haven't gone away you know



Quinlan must be 69 or 70 years old at this stage.
One assumes he's not going to be a player much longer.


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 Post subject: Re: F**k the Recession Quinlan - Chaaarrggge!
PostPosted: Thu Jul 12, 2018 10:05 am 
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Joined: Oct 11, 2017
Posts: 42
I see Mrs Siobhan Quinlan is in line to scoop millions from an investment in D4 (think it's the AIB site.)

Meanwhile her husband is still indebted to NAMA .............

:sick:
XX


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 Post subject: Re: Fuck the Recession Quinlan - Chaaarrggge!
PostPosted: Sun Jul 15, 2018 1:27 am 
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Awwwww shite, have we learnt nothing (especially hospital consultants and SCs :) )

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