Comments Subscribe to Personal Liberty News Feed Subscribe to Personal Liberty
 

Irish Billionaire Bankrupt, Court Says

DUBLIN, Ireland, Jan. 16 (UPI) — Sean Quinn, once considered Ireland’s wealthiest man, was declared bankrupt in a Dublin court Monday.

The 64-year-old businessman who headed the Quinn Group and whose personal wealth Forbes magazine had estimated at $6 billion four years ago, had judgments of more than 2 billion Euros ($2.52 billion) against him, brought by the state-owned Irish Bank Resolution Corp., the Irish Times reported.

Quinn, who did not oppose the ruling by Justice Elizabeth Dunne, headed the privately owned Quinn Group, a conglomerate with holdings in cement and concrete products, container glass, general insurance, radiators, plastics, hotels and real estate.

Earlier this month, a bankruptcy ruling in Belfast, Northern Ireland, was annulled because Quinn’s main business interests were found to be in Ireland and not Northern Ireland. At that time, he told the court in Belfast he held assets of only 50,000 pounds ($76,500).

In the Republic of Ireland, it takes 12 years to emerge from bankruptcy. The time period in Northern Ireland is 12 months.

UPI - United Press International, Inc.

Since 1907, United Press International (UPI) has been a leading provider of critical information to media outlets, businesses, governments and researchers worldwide.

Facebook Conversations

Join the Discussion:
View Comments to “Irish Billionaire Bankrupt, Court Says”

Comment Policy: We encourage an open discussion with a wide range of viewpoints, even extreme ones, but we will not tolerate racism, profanity or slanderous comments toward the author(s) or comment participants. Make your case passionately, but civilly. Please don't stoop to name calling. We use filters for spam protection. If your comment does not appear, it is likely because it violates the above policy or contains links or language typical of spam. We reserve the right to remove comments at our discretion.

Is there news related to personal liberty happening in your area? Contact us at newstips@personalliberty.com

Bottom
close[X]

Sign Up For Personal Liberty Digest™!

PL Badge

Welcome to PersonalLiberty.com,
America's #1 Source for Libertarian News!

To join our group of freedom-loving individuals and to get alerts as well as late-breaking conservative news from Personal Liberty Digest™...

Privacy PolicyYou can opt out at any time. We protect your information like a mother hen. We will not sell or rent your email address to anyone for any reason.