Attacks on former Quinn Group companies raise investor fears

Representations on behalf of a number of international investment groups owed hundreds of millions of euro from the former Quinn Group have been made at government level about ongoing criminal attacks on the business.

US concerns such as the $3.2 billion hedge fund and private equity group Strategic Value Partners, global investment group GSO Blackstone, the Prudential financial services group, and a US teachers' pension fund are among those on whose behalf concern has been expressed to Minister for Justice Alan Shatter and his counterpart in Belfast, David Ford.

Some of the investor groups have offices in Ireland and have other significant investments in the Irish economy.

The former Quinn Group of industrial businesses, now called the Aventas Group, has seen almost 70 attacks on its operations on the Fermanagh-Cavan border since a share receiver was appointed to the group three years ago on behalf of the former Anglo Irish Bank.

Last month, both the Belfast-headquartered Lagan Group, which was going to buy Quinn Rooftiles from Aventas, and Ceva, an international logistics group that was going to enter into an outsourcing arrangement with Quinn Cement, pulled out of the proposed deals following campaigns of intimidation.

Lagan chairman Kevin Lagan received a letter saying that if the sale went ahead, the buyers "would not live to see the benefits of the sale". He received the letter on the day his wife died.

Series of attacks
A series of attacks included setting fire to machinery and vehicles in Lagan premises in counties Cork and Down, causing an estimated €1 million worth of damage.

Ceva’s decision to pull out of a proposed arrangement to operate trucking services for the former Quinn Group was announced after a van filled with inflammable substances was set alight at a Ceva premises in Little Island, Cork.

The attacks and intimidation recorded by the Aventas management on the businesses outside Derrylin include vehicles being set on fire, key parts of the manufacturing process being sabotaged, senior management being tailed when driving from the former Quinn premises, senior management receiving threats by phone, text and mail, and a truck being driven into the workers’ canteen.

A spokeswoman for Mr Shatter said the Minister and Mr Ford had been in contact about what happened with the Lagan Group.

She added: “High-level contacts are being maintained with the Aventas Group, and An Garda Síochána, in co-operation with their colleagues in the PSNI, are determined to use all necessary resources to counteract the type of criminality at issue.”

'No hiding place'
A spokesman for Mr Ford said the attacks on businesses formerly owned by the Quinn Group "serve only to put the jobs of current employees at risk and are to be condemned. The PSNI and An Garda Síochána are co-operating closely to bring those responsible to justice and I have had discussions with Alan Shatter to ensure there can be no hiding place in either jurisdiction".

A spokesman for the PSNI said there have been a number of arrests and searches of premises in relation to persons suspected of being involved in attacks against the former Quinn Group.

He appealed to local people to pass on information they might have about those involved. “Whilst we understand there is a risk to people’s livelihoods, there is a greater risk to life,” he said.