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Business News

Failed tycoon Quinn loses court case over bankruptcy

Sean Quinn, the failed property tycoon who was once Ireland's richest man, is likely to be barred from relaunching his business career after a British court ruled that his bankruptcy must be judged in the tougher jurisdiction of Ireland.

Under UK law, bankrupts can set up in business again in just 12 months, whereas in Ireland they must wait up to 12 years. Mr Quinn, 65, had sought to have his case heard in Belfast, but yesterday Anglo Irish Bank successfully argued that his business interests lay south of the border. It says Mr Quinn owes it, and Ireland's taxpayers, £2.3bn.

A furious Mr Quinn yesterday declared: "I never did a day's work in southern Ireland in my life."