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Nov 12, 2011

Ireland's former richest man declared bankrupt

Davao Tours B | Nov 12, 2011

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Sean Quinn

Sean Quinn once known as the richest man in Ireland  was declared bankrupt after he filed for voluntary bankruptcy in the High Court in Belfast. His wealth reaches 4 billion Euros and lost it after he bought shares at Anglo Irish Bank and collapsed. Anglo Irish Bank is now nationalized and is named Irish Bank Resolution Corporation (IBRC).
Quinn choose to file bankruptcy in Belfast than in the Republic of Ireland where most his businesses were based because he was "born, reared and worked all his" in the province.

Despite being rich Quinn remains a low profile life compared to other fellow property tycoons, with few conspicuous displays of wealth.

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