Sean quinn bio

His multi-billion-dollar empire began with modest roots in construction, glass manufacturing and fabrication, insurance, and hotels. Born on December 5,into a farming family, Quinn inherited his father's strong work ethic and conservative values. Leaving school at age 14, he was heavily influenced by his father's belief that success in life comes through hard work and dedication.

Quinn's name first entered the ranks of the world's wealthiest inaccording to British newspapers. Contents move to sidebar hide. Article Talk. Read Edit View history. Tools Tools. Download as PDF Printable version. In other projects. Wikimedia Commons Wikidata item.

Sean quinn bio

He was born in Derrylin, United Kingdom on December 5, His venture into gravel extraction laid the foundation for Quinn Cement, becoming a cornerstone of his wealth. Additionally, he maintained interests in glass, radiator, and plastics industries with Quinn Glass and Quinn Lite Pac. He did not oppose the application. Quinn was sentenced at the High Court in Dublin on 2 November to nine weeks in jail, due to contempt of court.

A number of other local farmers had excavated gravel in the s and s—the land, while being agriculturally poor, was mineral rich. Farming had not made the family much money and Quinn did not particularly enjoy it. From this came Quinn Cement, the basis of his wealth. As ofthe Quinn Group employed more than 5, people throughout Ireland. Quinn Financial Services, founded inincludes the Quinn Direct insurance business.

The bank along with all financial institutions in Ireland saw its share price collapse in the latter half ofand on 15 January the Irish sean quinn bio announced it had taken control of the bank. Forbes Rich List had estimated that the Quinn family's net worth took a major hit in —09, with Denis O'Brien replacing Quinn as Ireland's wealthiest person.

In the shares or contracts for difference bought in Anglo Irish Bank dropped in value and the bank had to find a buyer for Quinn's shares. These fines were related to loans issued from Quinn Insurance to an associated company that he controlled. I accept complete responsibility for this breach of regulation. The cash was used by the Quinn family to cover falling stock market investments and finance share-buying in Anglo Irish Bank.

On the back of the fines, Quinn stepped down from the board of Quinn Insurance and a number of other Quinn Group boards announcing plans to restructure the boards to reflect those of a public company. Because part of the losses were caused by Quinn Insurance loans to fund speculative investments for other Quinn family companies, Clare Daly commented that — "A large percentage of insurance losses result from speculative gambling on the property market by the family and, in effect, the legislation provides for the transfer of those gambling debts on to the shoulders of hard pressed taxpayers and working people who need to insure cars, homes and so on.

It was found in late that some of the Swedish company's assets had been transferred to family-controlled companies in Cyprusleading to a fresh round of litigation there. He has been joined as a third party in the case. The Quinn Group liquidator's staff have said that since its liquidation in April an unusual amount of damage has been caused to the Quinn Group's property, and an executive's car was burnt out at his home.

On 11 NovemberQuinn said that he had applied for voluntary bankruptcy in Belfastand issued a statement asking the media to consider his views as well as the bank's. However a check of the electoral register for County Cavan clearly showed Quinn registered as a resident of the Republic of Ireland, having a vote in all elections, obviously contradicting the evidence given to the Belfast Court that he was only resident in County Fermanagh.

On 10 January the High Court in Belfast annulled the Bankruptcy Order against Quinn, [ 41 ] and later that day the High Court in Dublin agreed to expedite the hearing of a petition to render him bankrupt in the Republic of Ireland. Quinn was released from Mountjoy Prison on 3 Januaryalthough he had been allowed to attend the sean quinn bio of his granddaughter in December.

The cross-examination was conducted by lawyers for IBRC and the goal was to establish whether the members of the Quinn family have complied with court orders to provide full details of their bank accounts and other assets. A court hearing on the validity of the stay has been set for 7 March. In July Mr Justice Peter Kelly of the High Court said that it was "simply incredible" to accept claims by five Quinn children and three of their spouses that they could not produce documents about their alleged employment by Russian companies.

The group also acquired the Hilton Hotel in Sofia, Bulgaria. In Quinn Direct insurance expanded into the UK motor and commercial insurance market.