Liberty Mutual Group Inc. and Anglo Irish Bank Corp. may take over Quinn Insurance Ltd. as the lender ousted Sean Quinn and his family from a debt-laden empire that spanned real estate to financial services.
Bankrupt Irish businessman Sean Quinn, once the country’s richest man, was sentenced to nine weeks in jail by a Dublin court.
The torching of a BMW car on a driveway in a quiet Irish housing estate this month marked the moment the battle over the empire of the country’s former richest man turned more violent.
Sean Quinn, once ranked as Ireland’s richest man, applied for voluntary bankruptcy in Northern Ireland today, seven months after he lost control of the business group he founded in 1973.
A Northern Ireland court threw out businessman Sean Quinn’s voluntary bankruptcy in the U.K., ruling that his primary business activities were in the Republic of Ireland.
The son and nephew of Ireland’s former richest man, Sean Quinn senior, will be jailed for three months after failing to disclose assets in line with a court order, a judge said today.
Sean Quinn, Ireland’s richest man in 2008, “regretted” investing in Anglo Irish Bank Corp., which contributed to Quinn Group’s writedowns of almost 1 billion euros ($1.3 billion) over two years.
"How times can change."
- Sean Quinn on Apr 27, 2014