Quinn Family Sues Irish State for €4.5bn

2rkehij30qtza5

http://www.irishtimes.com/business/sectors/financial-services/quinn-family-sues-state-for-4-5bn-for-loss-of-businesses-1.1837417

Quinn Family to sue state for €4.5bn!

More taxpayers' money......just when we thought this country might have been turning a corner...

VinLieger

Pillars of the community they are, I wonder how the pig headed denizens of Cavan will defend this one

snaphook

Can I sue the bookies because I lost a grand on a Nag?

No.

The argument is that they didn't commit any unlawful acts.

It's kind of insulting that a Billionaire would not know the basic mantra that "The value of your investment may rise as well as fall".

c_man

With Seán Quinn's stellar business acumen, I'm surprised he hasn't recouped his billions by now :pac:

Some necks on them bastards.

Fratton Fred

The Quinn family should shut the **** up and piss off.

Dan_Solo

Someone owes me big time for the drop in my house price then.

oceanman

after what they done to him I hope he wins his case..

Akrasia

They're vile scumbags

They have absolutely no shame.

Even after they have lost their fortune, they are still living lives of luxury while millions of people are living day to day and paying the cost of their gambling debts.

Wibbs

VinLieger wrote: »

Pillars of the community they are, I wonder how the pig headed denizens of Cavan will defend this one

Annnnd you have your answer...

oceanman wrote: »

after what they done to him I hope he wins his case..

not sure if serious, but if serious, eh Wut?

Slozer

The Quinns have a point here although I find it hard o believe that Sean Quinn went into this with a blindfold on.

Yet another fine example of why banks should NEVER be bailed out!

eamonnq

Are they basically suing the Government for not doing their job properly ?

Maphisto

Some neck :mad:

I can't imagine that they'll win - but then in 2008 I couldn't imagine that the proverbial $hit was going to hit the fan.

We're all going to hell in a hand cart.

RobbingBandit

Money Laundering service as provided by your friendly neighborhood inept government. If the Quinn family get one cent we should revolt.

galwayredgirl

Ireland = Banana Republic - Oh well add another €4 1/2 billion onto the slate if the bauld Seanie wins his case - This will go on for years - so rack up many more millions in costs. :mad:

FTA69

"Started out with a shovel..." rabble rabble "provided jobs in the border area" rabble rabble "...good GAA man" rabble

These bastards have taken the Irish people for a ride and yet you'll still have people in their droves who will defend him "because he's one of our own". It's just one example of why Ireland will never change.

kneemos

Cancel the banking inquiry we'll probably learn more from this.

Nothing like a lawsuit to get the Governments attention and put things in order though in fairness.

awec

Sean Quinn didn't get rich by being stupid. I don't believe this plea of ignorance.

You would assume that the money he borrowed was not sums which you just dander in to your local branch and fill out a quick form for.

That said, this could have a few people like Fitzpatrick and Drumm (if he returns to the country) squirming in their seats.

dodderangler

Sure we don't have 4.6 billion

VinLieger

dodderangler wrote: »

Sure we don't have 4.6 billion

Pretty sure the Quinns still do somewhere

pundy

money grabbing scumbags. there's nothing more disgusting than people who love money.

Sky King

dodderangler wrote: »

Sure we don't have 4.6 billion

Ah here - we can pay it if we all chip in. It's only about a grand for every man woman and child in the republic of Ireland.

Fki it I'll go without a holiday this year. I want to see Seanie righted!

Lemlin

VinLieger wrote: »

Pillars of the community they are, I wonder how the pig headed denizens of Cavan will defend this one

As a "denizen" of Cavan, I have to say I despise the way our county is always thrown into the equation when the Quinns are mentioned.

Sean Quinn is from Fermanagh. The majority of his operation is in Derrylin in Co. Fermanagh, including the former Quinn Group's head office. His son played intercounty football for Fermanagh and he gives great monetary support to a local GAA club in Fermanagh.

Some protests for him were held in Ballyconnell in Cavan but a vast majority of his supporters hail from Leitrim, Monaghan, Fermanagh and other surrounding areas.

While I myself find his actions indefensible, I can see why some continue to support the man. He has employees down there working for him for 30 or 40 years during a time when the IDA and government chose to ignore the region because Quinn was creating jobs.

2rkehij30qtza5

Can't wait to see the austerity measures, taxes etc. that will be slapped on us all if he gets €4.5bn from the state. He is still living a well-to-do life...not like he is a pauper. The rich just get richer and the poor get poorer. Greed at the highest extreme. These people have no shame or self-dignity and actually think it's ok to screw ordinary Joe Soap so that they can have billions of Euro for themselves. It's disgusting really. I honestly don't know how anyone can condone the behaviour of the Quinn Family. Sean Q Jr parades around with his wife and her multiple designer handbags, fast cars, big houses etc. Why not be happy with what you have got and stop constantly looking for more and screwing over your fellow country men and women?

Philo Beddoe

Sky King wrote: »

Ah here - we can pay it if we all chip in. It's only about a grand for every man woman and child in the republic of Ireland.

We joke about this but this is exactly what the Quinn family are going to court to do, to get €1000 out of every man, woman and child in this country.

kneemos

Is it for PR that the family are doing it and not himself?

Robbo

VinLieger wrote: »

Pretty sure the Quinns still do somewhere

There's always money in the banana stand.

tritium

The bit I never understood with Quinn is what did they think was going to happen if Anglo hadn't lent them the money? The margin call would still need to be met, quinn would just need to get the money elsewhere- in short he was well fcuked from his gambling problem either way.

Also, are the Quinns sueing the state over their dodgy insurance company also?

Cookie_Monster

Despite him being a scumbag chancer I'm glad someone is finally having a go at the central bank for its gross incompetence and/or corruption.

mcko

Balls of brass I don't know if I should admire or despise this shower.

suicide_circus

oceanman wrote: »

after what they done to him I hope he wins his case..

What exactly did they done to him?

shruikan2553

suicide_circus wrote: »

What exactly did they done to him?

They didn't protect him from his own stupidity.

suicide_circus

Cookie_Monster wrote: »

Despite him being a scumbag chancer I'm glad someone is finally having a go at the central bank for its gross incompetence and/or corruption.

Yep it dosnt look like anyone else is gonna take them or the regulator to task for their gross incompetence

Specialun

If he wins there wont ever be a pothole in fermanagh again

Specialun

suicide_circus wrote: »

What exactly did they done to him?

They raped him on facebook

kevohmsford

Still people I know are defending Sean Quinn. Very strange to say the least.

This article is a decent read.

http://www.thejournal.ie/sean-quinn-anglo-bankrupt-671638-Nov2012/

upstairs for coffee

So Quinn lost badly in a bet and is now trying to wrangle his way out of his loss?

thebaz

surely the state should counter sue him , if he and his family owe the state billions, while the majority of decent and law abiding citizens are enforced to endure years of austerity , thanks to the gambling of a select greedy few , including the Quinns. They took a gamble and lost , such is life , but this family think the state should bale them out , cause the lost . One thing is for sure if Mr. Quinn's gamble had come in , would he have shared his winnings with the state and its less well healed citizens ?

jcon1913

shruikan2553 wrote: »

They didn't protect him from his own stupidity.

How is that the fault of the state?

Collie D

Can somebody explain to me on what grounds he thinks he can do this? I'm a bit thick. From what I can read he is suing them for giving him a loan he couldn't pay back? Is that right? Surely he doesn't think he could win that? And surely he's smart enough to know he couldn't win? Am I missing something?

Maphisto

Collie D wrote: »

Can somebody explain to me on what grounds he thinks he can do this? I'm a bit thick. From what I can read he is suing them for giving him a loan he couldn't pay back? Is that right? Surely he doesn't think he could win that? And surely he's smart enough to know he couldn't win? Am I missing something?

That's the way I see it as well. Do ever get the feeling though that there's one rule for us, the thickees, and there's another rule for the people with mates in FF or FG, or the local Garda Super :mad:

Son Of A Vidic

Santana Full Sabotage wrote: »

Quinn Family Sues Irish State for €4.5bn

I wonder is he deducting from his settlement claim, the value of his gold stash that he has allegedly hidden away.

Dan_Solo

suicide_circus wrote: »

Yep it dosnt look like anyone else is gonna take them or the regulator to task for their gross incompetence

Can we sue FF/FG/GP/SF for implementing the bank guarantee that fcuked us over for 100 billion?

Robbo

Dan_Solo wrote: »

Can we sue FF/FG/GP/SF for implementing the bank guarantee that fcuked us over for 100 billion?

There have been many crank litigants (and TDs trying to seek imortality)who've already tried. Turns out you can't just make up new areas of law based on incoherent rage and something you half remember from a John Grisham film.

Dartz

Santana Full Sabotage wrote: »

http://www.irishtimes.com/business/sectors/financial-services/quinn-family-sues-state-for-4-5bn-for-loss-of-businesses-1.1837417

Quinn Family to sue state for €4.5bn!

More taxpayers' money......just when we thought this country might have been turning a corner...

Correct me if I'm wrong, but wasn't he the recipient of an illegal loan?

Didn't the bank loan him money, to invest back in the bank itself?

Maphisto

Robbo wrote: »

There have been many crank litigants (and TDs trying to seek imortality)who've already tried. Turns out you can't just make up new areas of law based on incoherent rage and something you half remember from a John Grisham film.

Are you saying this Quinn litigation won't get past the first post?

ScumLord

I think this case could be interesting though. Up until now it's been the state pointing fingers and diverting the attention onto all their former allies. Now the people they burned are making their counter move and I expect the dirty secrets to come out in this round.

Collie D

Dartz wrote: »

Correct me if I'm wrong, but wasn't he the recipient of an illegal loan?

Didn't the bank loan him money, to invest back in the bank itself?

So if the loan was illegal surely both parties are at fault. As I said in my earlier post I'm sure I'm missing something so forgive my ignorance but wouldn't that be akin to a passenger in a stolen car suing the driver for whiplash?

CB19Kevo

The state is primarily at fault for the whole fiasco.
Regulator should be held to account,Thats not to say Quinn has clean hands in this situation.

Robbo

Maphisto wrote: »

Are you saying this Quinn litigation won't get past the first post?

Nope, that's not what I'm saying. If I was to place a bet on this Quinn business, it'll run for some time.

folan

are the quinns trying to sue the state because anglo are guilty of fraud?

can i sue the government because starbucks gave me cold coffee?

Dan_Solo

Collie D wrote: »

So if the loan was illegal surely both parties are at fault. As I said in my earlier post I'm sure I'm missing something so forgive my ignorance but wouldn't that be akin to a passenger in a stolen car suing the driver for whiplash?

It's more like a stolen car being handed on to another criminal who then crashes it and tries to sue the car's owner TBH.