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Sam Boal/Photocall Ireland

Former billionaire Seán Quinn to leave role with company that took over his former operations

QIHL was formed in 2014 when it acquired the building and packaging materials of the former Quinn Group.

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.

Read: Seán Quinn agrees to hand over future earnings as his former empire is picked apart

Read: Everything you need to know about the Quinn saga, but were afraid to ask

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    Mute Cyril Butler
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    Oct 15th 2011, 1:46 PM

    If there was a recreational drug that could make a society as crazy as those of religious nations it would be banned. Im not suggesting that religion should be banned but that it should not be granted intellectual respect. The far left who along with Islamists coin terms such as Islamophobia which is to pathologise what is a perfectly rational and healthy fear. This is entirely different to a prejudice against Muslims or any other Immigrant for that matter. Islamists living in the west do not have the right to not be offended anymore than Christians. Im sorry but your religion like the rest of them is batshit. I will not respect views that deny science and evidence. And no that does not make me a bigot nor is it prejudice. It is simply not very smart to believe a 6th century illiterate can tell 21st century society how to live. It is even less smart to organise societies around these views.

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    Mute Waffler
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    Oct 15th 2011, 2:11 PM

    i hate that i can’t criticise someone’s insane beliefs without being branded a bigot.

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    Mute Robert Mulraney
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    Oct 15th 2011, 1:56 PM

    “protesting against his channel’s airing of a controversial movie”. Controversial?! Has the author actually watched the film? It’s only controversial to bigots and right wing fundamentalists, to anyone else its a story about the life of a young girl growing up in a country ruled of such people. Let’s not act as apologists here, there is absolutely nothing in the film which could be considered ‘controversial”

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    Mute Réada Quinn
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    Oct 15th 2011, 3:11 PM

    Its not that long since there was mob outside RTE after tommy tiernan’s blood.

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    Mute Cyril Butler
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    Oct 15th 2011, 3:22 PM

    Yes Reada but if enough of society stood up to these thugs the world would be a better place. It is simply because so few comedians will stand up and mock this insane bullshit that they have an easy target. Ayaan Hirsi Ali is a hero.

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    Mute Joe Sixtwo
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    Oct 15th 2011, 2:54 PM

    Why don’t these barbaric idiots let their all powerful god deal with this?

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    Mute Waffler
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    Oct 15th 2011, 2:10 PM

    i actually thought that movie portrayed muslims in a positive light. the previous regime came across as elitist snobs

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    Mute Réada Quinn
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    Oct 15th 2011, 3:32 PM

    He is indeed. Tolerance and acceptance is the only way forward. I was merely pointing out that Irish people were very conservative themselves.
    Was going to quote the plank and the splinter story to you but decided it would be too biblical for you!
    Roll on the pushers and shakers.

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