1973-2007Seán Quinn transforms a small gravel business started on his family farm in Derrylin, Co Fermanagh, into an international empire generating €400 million in cash every year.
It spans cement, glass, energy, hospitality, chemicals, property and financial services, and generates more than 5,000 jobs in Ireland. In 1996, he secured a licence to operate a general insurance business.
2008
January: The Sunday TimesRich List estimates Quinn is worth €4.72 billion. In the lead-up to the summer of 2008, Quinn and his family secretly accumulate a 25 per cent stake in the now nationalised Anglo Irish Bank through complex derivative products known as contracts for difference.
July: Anglo approaches 10 “golden circle” clients to borrow ¤450 million to buy a 10 per cent of stake in the bank which is being sold by Quinn.
October 24th: Quinn resigns from the board of Quinn Insurance after his firm is fined a record €3.25 million by the Financial Regulator for lending money to the Quinn family to invest in Anglo in 2008.
2009
January: Anglo is nationalised. Quinn admits his family has sustained losses of at least €1 billion on its Anglo share dealings – the figure subsequently rises to €2.8 billion.
2010
March 30th: New Financial Regulator Matthew Elderfield (below) appoints joint administrators to Quinn Insurance over concerns about the insurer’s solvency.
April: Quinn concedes defeat in his battle to stop the regulator from putting Quinn Insurance into administration, and relinquishes control of the business.
2011
April 14th: The former billionaire is stripped of control of his business empire as Anglo installs a receiver in the Quinn Group.
April 28th: Administrators of Quinn Insurance sign a deal to sell the company to US insurance giant Liberty Mutual and Anglo Irish Bank.
May: Quinn’s wife and five children lodge a High Court action seeking hundreds of millions of euro in damages over Anglo’s decision to take control of the Quinn Group.
August 2011: Quinn’s helicopter and private jet are put up for sale.
November 11th: Quinn, once Ireland’s richest man, files for bankruptcy in Belfast.
