Published: 2 Aug 2012 13:012 comments

Peter Darragh Quinn is staying in Northern Ireland because he believes that he would face "pre-determined decisions based on corruption" if he returned to the Republic.

Share this image

Peter Darragh Quinn is staying in Northern Ireland because he believes that he would face "pre-determined decisions based on corruption" if he returned to the Republic.

His father, Peter Quinn senior, says that his family won't be attempting to persuade him to go back, adding: "We do not believe there is any chance he will get fair play."

Mr. Quinn senior has spoken at length to the Impartial Reporter about the sense of injustice the whole Quinn family feels about their treatment in the Republic.

He says that the way the courts have demanded repayment while at the same time taking away Quinn business is like "choking off a man's air supply and then expecting him to breathe."

Peter Quinn says that the former Anglo Irish Bank, now the Irish Bank Resolution Corporation, was reporting a business model that it was not actually using; and began overtrading (in layman's terms trading too fast). They engaged in risky practices and when property values fell they were in real trouble and engaging in a number of questionable practices.

It was in the context of this that they tried to prop up the share price, because Peter Quinn believes, the value of the share price would determine the value of share option schemes that directors had. It was, he claims, in their interest to show the highest possible share price.

Supporting the share price in the way they did is illegal.

And, therefore, it is the Quinn case that the way they administered loans to them was illegal. If that was determined by the courts, the Quinn loans would be null and void.

"Money lent for share support is fraud and not repayable," insists Peter Quinn.

The problem for Sean Quinn and his family, is that the courts won't hear this case first.

"This should have been heard first, before the case against Sean," says Peter Quinn, who says bluntly that they are "shit scared" of doing so because too many people in high places have too much to lose.

He believes that if Sean Quinn won the case to declare the loans illegal, other claims of £15billion to £20billion would come forward.

He believes that the case against Sean Quinn and his family for defaulting on the loans is being run to drain the Quinns of resources to fight their case against the bank, hoping it would never come to court.

Says Peter Quinn: "There is a conspiracy to make sure he doesn't win the case, involving Anglo, the Government including the Department of Finance and the regulatory body, including the Central Bank.

"There is systematic and systemic collusion to make sure Sean Quinn doesn't win the case. That's why the whole series of side issues are being taken to court first, to dry up funds," says Mr. Quinn.

"And they are succeeding with the support of the national media, including RTE, BBC and the national dailies.

"People aren't being told the truth, that Anglo was involved in illegal activity, defrauding investors and overstating their balance sheet," he said.

"As the biggest borrower, Sean Quinn was the obvious scapegoat," Peter Quinn continued.

He said that the family had tried to retain those assets not funded by Anglo, they admitted that, and the family contend that they did not do anything further to put assets beyond Anglo.

But after being found in contempt by the court, he reveals that the Quinn family was prepared to talk to Anglo to reach agreement.

He reveals: "One of the defendants sent two letters to Anglo between the decision on contempt of court asking them to meet Anglo to discuss a path forward to purging the contempt. But Anglo isn't prepared to meet them.

"They're not interested in having contempt purged, they're only interested in finding a victim, a scapegoat.If the stalement continues, they will continue to have their victim," he adds.

When asked what position this left his son Peter Darragh Quinn in, he said: "Peter is back in Northern Ireland and he's not going back because he would face pre-determined decisions based on the corruption that I have outlined. His family will not be attempting to persuade him to go back.

"We do not believe there is any chance he will get fair play," he said.

When it was pointed out that this meant he would have to stay north of the Border, Mr. Quinn insisted: "He won't be going back.

"He's very unhappy and under a lot of pressure, but he can't stop living his life. He's entitled to go to football matches, as am I, without being photographed," said Mr. Quinn, a reference to the picture taken of the father and son together on Friday evening at Kinawley which appeared in a national Sunday newspaper.

He went on: "I don't believe he's fearful of prison, but Peter does not feel he was getting justice."

Jump to first paragraph.


comments powered by Disqus

Get more stories from our Roundup section

24 Apr 2014 13:00 • Rodney Edwards

'Nanny, nanny... he's dead, dead'

The call no mother wants - read Ruby Brown's moving interview following the death of her son Richard in a motorbike accident

Social: Comments0 comments

24 Apr 2014 13:00 • Julie Kenwell

Collegiate given chance of 11th hour appeal to WELB

PARENTS of Collegiate Grammar School are to make an 11th hour appeal to members of the Western Education Library Board (WELB) not to sign off on a development proposal which would see it merge with Portora Royal next year.

Social: Comments0 comments

24 Apr 2014 10:15

3,000-year-old bogwood sculptures installed at SWAH garden

BOGWOOD sculptures over 3,000 years old have been installed at the South West Acute Hospital (SWAH) garden.


24 Apr 2014 10:00 • Editorial Department

Inside today's paper

Way of the Cross: Congregations walk together on Good Friday.

Social: Comments0 comments

24 Apr 2014 09:30 • Editorial Department

In today's Impartial Reporter:

The phone call no mother wants as Ruby Brown tells of the moment she learned of the death of son Richard in a motorbike accident. Read her in-depth and moving interview.

Social: Comments0 comments

23 Apr 2014 21:30

Late Breen strike sends Town into final

Enniskillen Town Utd came from a goal down to book their place in the final of the Impartial Reporter Mulhern Cup with a 2-1 win over Kesh at Ferney Park tonight.


23 Apr 2014 15:35

Car stolen in "creeper burglary"

A car was stolen during a so-called “creeper burglary” at Raceview Court near the Cornagrade Road in Enniskillen.


23 Apr 2014 13:15

Castle Archdale hosts Dawn Chorus event

LOCAL people are invited to meet at Castle Archdale at 5am on Saturday, May 3, to listen to the birds welcome the new day in fine voice.


23 Apr 2014 11:30

Radio DJ includes Fermanagh stop in marathon challenge for charity

A radio DJ will bring her fundraising marathon challenge to Fermanagh this June in aid of Cancer Research UK.


23 Apr 2014 09:30

Arsonists responsible for 15 gorse fires since beginning of April

Arsonists are being blamed for starting around 15 gorse fires in the Garrison and Belcoo area since the beginning of April.


22 Apr 2014 17:00

Mallards slip into bottom two

Ballinamallard United slipped into the bottom two in the Danske Bank Premiership on goal difference following today's 2-2 draw with Dungannon Swifts at Ferney Park.


22 Apr 2014 15:00 • Editorial Department

Opinion - Kylie Noble - Why I’m excited to vote for the first time

The rites of passage of growing up vary from person to person but throughout my own life events such as turning 13, my first formal, my GCSE and A level results, my 18th birthday (and my first and to date only hangover that followed), getting into university and moving away from home are just a few which I imagine are pretty common landmarks among my generation.

Social: Comments0 comments

22 Apr 2014 15:00

Rucksacks stolen in car break-in

A car was broken into at Navar Forest near Derrygonnelly last night (Monday).


22 Apr 2014 13:00 • Rodney Edwards

Stormont Files: Farm Watch designed to prevent rural crime - O'Neill

FARMERS in Fermanagh are being encouraged by the College of Agriculture, Food and Rural Enterprise (CAFRE) in Enniskillen to take part in the Farm Watch Scheme, an initiative endorsed by Agriculture Minister Michelle O’Neill.


22 Apr 2014 12:00

Lisnaskea home attacked

A house in Lisnaskea has been attacked.


22 Apr 2014 11:00 • Rodney Edwards

Stormont Files: Litter droppers approach MLA to quash £75 fine

A NUMBER of people in Fermanagh have been fined £75 for “dropping a cigarette butt or a sweet paper” on the street, according to UUP MLA Tom Elliott.

Social: Comments0 comments

22 Apr 2014 09:00

Motorist knew insurance shown to police had been cancelled

A 47-year-old factory worker has admitted fraudulently using a certificate of car insurance by showing it to the police, knowing it had been cancelled.


21 Apr 2014 22:30

Man(20) took father's car without consent

A 20-year-old man thought he was being “sensible” when he got behind the wheel of a crashed car to drive it home.


21 Apr 2014 19:00

Jail sentence for driver caught without insurance four times in two weeks

A 30-year-old car dealer caught driving without insurance four times in two weeks despite paying out £3,500 in premiums has been given a jail sentence.


21 Apr 2014 17:30

Number out of work in Fermanagh fell by 2.4 per cent in March

Unemployment in Fermanagh fell by 2.4 per cent last month.