DUBLIN (AP) — A judge has ordered an Irish tycoon to repay 417 million Euro ($560 million) in bank loans.
Sean Quinn is the person, who was once Ireland's richest person, has already been exposed of his business empire as part of a three-year battle with his primary collecter, Anglo Irish Bank.
Justice Peter Kelly ordered on Wednesday t0 Quinn to repay the amount and said he was probably next week to order the businessman to repay 1.6 billion Euro ($2.15 billion) more.Quinn used his huge borrowings from Anglo to build a 28 percent stake in the bank. Anglo's 2009 bankruptcy and nationalization have cost taxpayers 25 billion Euro ($34 billion) and Quinn his fortune.
Quinn declared bankruptcy two weeks ago in the British territory of Northern Ireland.
Sean Quinn is the person, who was once Ireland's richest person, has already been exposed of his business empire as part of a three-year battle with his primary collecter, Anglo Irish Bank.
Justice Peter Kelly ordered on Wednesday t0 Quinn to repay the amount and said he was probably next week to order the businessman to repay 1.6 billion Euro ($2.15 billion) more.Quinn used his huge borrowings from Anglo to build a 28 percent stake in the bank. Anglo's 2009 bankruptcy and nationalization have cost taxpayers 25 billion Euro ($34 billion) and Quinn his fortune.
Quinn declared bankruptcy two weeks ago in the British territory of Northern Ireland.
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