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Facebook page closed at request of the Sean Quinn family

By Joanne Sweeney

Published 13/05/2016

Negotiations: Sean Quinn
Negotiations: Sean Quinn

A Facebook page supporting Fermanagh businessman Sean Quinn has been closed in the latest move behind his attempt to regain his former business.

Mr Quinn's family appealed to the cross-border group to "immediately cease posting further material" after they branded their efforts "counterproductive" to his talks with US investors who now own Quinn Industrial Holdings Ltd (QIHL), the company he built up over decades.

Concerned Irish Citizens closed the page on Wednesday to step back from its support of the businessman. He is facing an ultimatum from the new owners of Quinn Industrial Holdings Ltd (QIHL).

Once the richest man in Northern Ireland and now a consultant with QIHL, Sean Quinn is currently in a delicate stage of negotiations with them regarding his future.

He lost control of his assets and filed for bankruptcy in 2011 after the collapse of the Anglo-Irish Bank in which he had invested heavily.

It's understood that a dispute has arisen between Mr Quinn and the owners over his demand for an equity stake in QIHL and for a seat on the board.

Mr Quinn works as an adviser to the group, receiving an annual financial reward reported to be in the region of €500,000 (£395,850).

The owners have requested that Mr Quinn promote and engage with the management team at QIHL in a constructive manner.

They said they were open to discussion on the issues involved, but that Mr Quinn needed to meet their demands or they will have no alternative but to "terminate" his consultancy agreement.

However, Mr Quinn has denied that he had "sought a seat on the board of QIHL or new equity in the company" and said that he was the subject of an orchestrated campaign which was designed to "discredit" him.

But he added: "I would, of course, like a seat on the board at some stage as I believe that I could make a very positive contribution to the future success of the company."

Belfast Telegraph

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