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FORMER BILLIONAIRE SEÁN Quinn is set to leave his position as an advisor with Quinn Industrial Holdings Ltd (QIHL) – the company that took over some of the operations of the former Quinn Group.
In a statement released this evening, QIHL said that it had been “mutually agreed” between the parties that the consultancy arrangement between Seán Quinn and his son Seán Quinn Junior will be discontinued.
QIHL was formed in 2014 when it acquired the building and packaging materials of the former Quinn Group from Aventas – which had formed after Quinn went under in 2012 with debts of over €2 billion.
The company said that it had entered into a “consultancy agreement as a framework” to facilitate Seán Quinn’s involvement in the businesses when they acquired them.
However, the company said that as time progressed it became evident that Seán Quinn’s expectations for the role were “at odds” with the direction of the businesses.
“Accordingly, it has been mutually agreed between the parties that QIHL’s consultancy arrangement with Sean Quinn and Sean Quinn Junior will be discontinued,” it said.
Quinn will still have access to the office facilities for his own personal use.
Seán Quinn
Seán Quinn was previously listed at the richest Irishman in history – with a personal wealth of around €4.7 billion.
Born in Derrylin, Co Fermanagh, he began business in 1973 when he set up Seán Quinn Quarries - diversifying into other areas like cement and glass manufacturing.
From there the Quinn Group of companies was set up and expanded in to many areas before the former billionaire went bankrupt with huge debts after having bought significant shares in the former Anglo Irish Bank.
QIHL recorded a strong financial year last month – its first yearly report since the company was formed in December 2014.
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Get rid of that USC shite!
Absolutely! It was supposed to be “temporary!”
USC is 7% for the majority. Some pay nothing else. Tackle the marginal rates instead
Change street lights to LED.
Powerful sayings, don’t be getting ahead of yourself, do you think it’s just as simple as taking out the current lights and replacing them with leds? First off, we’ll have to set up a focus group so that everyone knows what we’re doing ‘going forward’. This focus group should comprise of retired/failed political cretins that have absolutely no background in engineering and probably couldn’t change the fuse in a plug. After several months of agreeing terms with an Led manufacturer in China, Enda decides it probably best instead to ude Denis o Brien’s led manufacturing plant, which he set up two weeks previous.
@Paul
Don’t forget the consultation with the Unions, and the claims that for Health and Safety reasons these new bulbs can’t be handled without proper preparation in the form of a % pay increase, a late start on a Monday and time to go to the Bank on Friday, a one off lump sum payment and finally, an allowance for new socks. Sure until that is all in place, it’ll be strikes and blackouts on the streets.
Dont we already have companies set up that could install the new lights. ESB and airtricity who already maintain the street lights!!!!
There’s a few crap ideas in that list , I have a few that would safe us about 150 million. No bonus for bankers. No pensions for politicians (pay for it yourselfs ya lazy sh.ts) retired or serving, no Irish water .
How would no bonuses for bankers save the Government money?
Maybe arrange for every Irish worker ‘donate’ a pint of blood every month at their place of work and sell it on the open market.
Here’s a good one – stop paying back the banking debt that wasn’t ours in the first place, instant saving of 9 billion a year.
Our banks were paid. That is now sovereign debt unfortunately. Lumped in with all our other sovereign debt.
You can ogra and f off with suggestions like that
Taxing drinking after midnight would be forever known as The Cinderella Tax. One of the more stupid ideas from FF.
If that’s the best Ogra FF have to offer, their parliamentary dinosaurs have little to fear from the FF young Turks, or should I say, cubs
A higher tax on alcohol will only serve to increase binge drinking- people will have an incentive to fill up on drink prior to midnight. To suggest anything else is not only stupid but goes against more or less every study carried out on licensing hours.
Well said. It would be a race against the clock – making sure you’re too pissed to want another drink after midnight. Just when you thought you’ve heard enough stupidity for one evening, FF come to the rescue.
If they put that levy on bottles & jam jars, I’ll be standing outside our local recycling place, 5 million to set up!! Ah well like father like son, as the saying goes….
Mee too. I remember being able to bring the empties down to the local shop. I earned my sweet money that way. Except for jam jars! My mother kept them to make jam!
Only problem then is that you have to be able to take them back, or to the recycle centre. I remember before they said we could put glass in the green bin, boxes of glass piling up and having to organise a lift to the recycle centre because all the local bottle banks disappeared.
It seems the ” young ff & fg ” are in line to wast tax payers money yet again, 5 million to set up people brining back bottles is ridiculous.
A gigantic tax on The Communication Clinic,inclusive of it’s husband and wife (PRONE to subterfuge) & their radio presenting son. Once spun for FF when Carr comm,now spinning for FG.
http://www.independent.ie/business/irish/how-the-leading-pr-firm-came-asunder-26428144.html
We could bulldoze aras an uachtarain and build social housing and affordable housing for thousands. The president can afford to pay for his own place with his salary.
So comments on the terry prone/tuam story have now been locked-no further comments allowed. I wonder how this could be. Interesting who the CC’s director has advised?
“advised clients ranging from Cabinet Ministers, the CEO’s and Chairmen of some of Ireland’s largest PLC’s through to members of the Catholic Heirarchy and CEO’s of global charities.”Communications clinic
@ James ya w..k.r…u must be the son of a lazy low life politician.
have your say