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 Post subject: Re: The Quinn Collapse
PostPosted: Fri Jan 16, 2015 9:18 am 
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He's a free man today- 3 years are up.
And still he lives in the Big House...luckily for him, 'The Children' own it!


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 Post subject: Re: The Quinn Collapse
PostPosted: Fri Apr 08, 2016 8:29 am 
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GUBU!!!!

Former tycoon Sean Quinn a ‘prisoner’, friend claims
Joey Smith says local people angry about treatment of businessman
http://www.irishtimes.com/news/world/eu ... -1.2602644
Quote:
“I know that from Sean himself. That’s a fact, that’s not hearsay. We are losing sight of what management aimed to do. Their sole function was to go in and buy the businesses back for Sean Quinn, ” Smith says.
However, this allegation is denied by sources close to the new management, who say the final decision about ownership will be made by the three US investment funds who bought the firms in 2014.
He built them, they were his. For whatever reason there has been a change in direction and instead of working with Sean Quinn they are working against him. Sean Quinn wants to be back in charge, he told me that. He put it there,” said Mr Smith.
In relation to the intimidation, acts of sabotage and death threats to management of Quinn Industrial Holdings, Mr Smith said: “I condemn what has been done. But I’ll tell you something: I wouldn’t need the FBI to tell you why it is being done. Local people are getting very angry.
“I think Sean Quinn and the Quinn family are showing great restraint. I think if I was being put under the same pressure that they are being put under, I mightn’t be as easy to talk to. With regards to death threats, I don’t believe in death threats. Having said that, I can see why they would be made,” he said.


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 Post subject: Re: The Quinn Collapse
PostPosted: Fri Apr 08, 2016 8:36 am 
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WTF

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 Post subject: Re: The Quinn Collapse
PostPosted: Fri Apr 08, 2016 5:05 pm 
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Mantissa wrote:
WTF

Bandit country.


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 Post subject: Re: The Quinn Collapse
PostPosted: Fri Apr 08, 2016 8:07 pm 
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The Naked Chef wrote:
Mantissa wrote:
WTF

Bandit country.

More mafia than bandits, I think. A friend who consulted for Encirc (the buyers of Quinn Glass) showed me photos he snapped of intimidating billboards beside the plant entrance. His name has also already come up on Facebook pages of locals, so anyone with even the remotest connection is watched.

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 Post subject: Re: The Quinn Collapse
PostPosted: Mon Apr 11, 2016 8:54 pm 
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Quote:
US investors meet Sean Quinn as board tensions grow

American investors in a manufacturing firm that was once owned by Sean Quinn held a private summit with him in Dublin last week as boardroom tensions escalated.

The US investors flew into town for a Quinn Industrial Holdings Ltd board meeting on Thursday, but also held a private side-meeting with Sean Quinn in the city.
It is believed that the former tycoon was asked to settle his business differences with the management team who now run the company.


http://www.independent.ie/business/iris ... 13859.html

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 Post subject: Re: The Quinn Collapse
PostPosted: Thu Apr 21, 2016 9:25 pm 
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Sean Quinn deplores intimidation tactics, bullets in post, general negativity, etc. etc. ...

Quote:
Sean Quinn responds to attacks on former empire

... These types of negativity simply deepens the hurt and distrust that has plagued the company and the community since Anglo took the Quinn Group away from my family, and as it is wholly counterproductive to my efforts to buy-back the Company and I would urge that the negativity is brought to an immediate end.

Whilst I may have differences of opinion with QIHL Senior Management on business matters, I am of the firm belief that those differences can be resolved through the commercial discussions which are ongoing...

More...


Sounds a bit like the Good Friday Agreement to me. Nobody's allowed to claim they won or admit they lost, or especially that violence and the threat of violence had been a successful tactic... but everyone knew it!

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 Post subject: Re: The Quinn Collapse
PostPosted: Sat Apr 23, 2016 5:37 pm 
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Quote:
Profits surge to €16.2m at former Quinn operations

Profits at Quinn Industrial Holdings, part of the former manufacturing empire of Sean Quinn, hit €16.6m last year as its turnover surged 25pc to €203m.

The earnings before interest, tax, depreciation and amortisation (EBITDA) compared to the €6.2m in EBITDA the business earned in 2014. It made a profit before tax and exceptional items of €5.9m last year, compared to a loss of €14.6m a year earlier.
The company's operations comprise the packaging and construction industry supply (CIS) businesses that were once part of the Quinn Group. The units were acquired in December 2014 from Aventas. The buyer was QBRC, a company that includes a group of former Quinn executives, and which was backed by existing Aventas financiers, including Brigade Capital, Contrarian Capital and Silver Point Capital.

The former Quinn executives involved in the buyout include Liam McCaffrey, who is now chief executive of Quinn Industrial Holdings (QIH). He said that 2015 had been a "transformative year" for the group.

"The continuing support of our investor group for QIH's ongoing capital investment programme marks a major endorsement of our strategic direction and future prospects and will assist in our target of delivering a further improvement in profitability and employment in 2016," he said.

A death threat was made against Mr McCaffrey last month, while contractors working on former Quinn wind farms have been sent bullets in the post. A handwritten letter was sent to staff working for Danish energy firm Vestas warned them to "stay away" from a windfarm or "face the bullet" and noting it was a" final warning".


http://www.independent.ie/business/iris ... 52458.html

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 Post subject: Re: The Quinn Collapse
PostPosted: Sat Apr 23, 2016 6:16 pm 
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Presumably the authorities are waiting for these nutters to hurt someone before they do anything about it.


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 Post subject: Re: The Quinn Collapse
PostPosted: Sun Apr 24, 2016 4:32 am 
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Presumably in the unlikely event Quinn ever regained control of any part of his former empire, nobody in their right mind would ever do business with him again.

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 Post subject: Re: The Quinn Collapse
PostPosted: Sun Apr 24, 2016 9:54 am 
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Image

From the SBP.

Charming.

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 Post subject: Re: The Quinn Collapse
PostPosted: Sun Apr 24, 2016 9:55 am 
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"Unknown forces"...I bet it wouldn't take a genius to work it out with a little local knowledge.


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 Post subject: Re: The Quinn Collapse
PostPosted: Thu May 19, 2016 5:03 pm 
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Quote:
Seán Quinn, and his son Seán Jnr, are to leave the company the businessman founded more than 40 years ago.
The one-time billionaire had been seeking to regain control of the company he lost after losing his empire after been made bankrupt. The company is now known as Quinn Industrial Holdings Limited.
Mr Quinn, who was discharged from bankruptcy last year, was recently issued with an ultimatum by the American owners of the Cavan-Fermanagh based company where he is employed as a consultant warning him that he faced having his €500,000 per year contract terminated following the dispute.
The financiers asked Mr Quinn to withdraw his demand for an equity stake in the business, a seat on the board, allegations of impropriety against the management and to promote and engage with the senior staff in a constructive manner.


http://www.irishtimes.com/news/ireland/ ... -1.2653822

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 Post subject: Re: The Quinn Collapse
PostPosted: Thu May 19, 2016 5:38 pm 
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I find the whole Quinn debacle fascinating, but from a psychological perspective.

He comes across as a man who stubbornly refused to accept that he lost.

Having fallen from the mountain top, he acts like he's automatically entitled to stay there and demands a cable car ride back up.

It's probably not helping that everyone in Cavan supports him (t'was those jackeens who caused it all), as they reinforce his own bubble.

But unfortunately, the good citizens of Cavan don't control the company he founded (and lost).
And I'd say the new owners really don't have the time or patience to entertain him any more.

By the way, has anyone in this entire bust come out with their hands up and said 'I fucked up !' ?
Think I remember Austin Hughes doing it.


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 Post subject: Re: The Quinn Collapse
PostPosted: Thu May 19, 2016 5:55 pm 
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He's like an evil Jackie Healy-Rae.

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