Following a major investigation by our London Correspondent Mark Paul and a UK court order, The Irish Times recently gained access to the bankruptcy files of Derek Quinlan, one of the leading Irish property tycoons before the 2008 crash. In this piece, Mark details how Quinlan paid a €2.5 million tax rebate that he received from Revenue in 2018 to his wife to fund their future lifestyle, a detail that played a key part in the trustees of his case seeking a court extension of his bankruptcy.
In this in-depth feature, Mark Paul goes through the series of events that last November led Derek Quinlan’s UK bankruptcy trustees to seek an extension of his time in financial purgatory, something that was granted by the court.
Mark also offers a profile of Derek Quinlan on his journey from property king to having to account for the cost of his haircuts to the administrators of his bankruptcy.
As part of his UK bankruptcy, Derek Quinlan gave an in-depth interview to the administrators of his case in October 2023. Mark Paul sifted through the transcript of this meeting, which provides Quinlan’s own account of some of his biggest deals and his dealings with some of his biggest creditors, including Nama. It also gives an insight into his tax rebate from Revenue and his huge living expenses.
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It was good (for some) while it lasted but the Government has moved to close a loophole, which allowed company directors to significantly increase how much they could fund their pensions – and gain tax relief in the process. Fiona Reddan explains the details in our weekly Your Money feature. If you’d like to read more about the issues that affect your finances try signing up to On the Money, the weekly newsletter from our personal finance team, which will be issued every Friday to Irish Times subscribers.
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Businessman Declan Ganley has told a New York court that he is making “good faith efforts” to sell Irish properties to help pay down a $20m debt, and that a threat of “incarceration ... is not justified under law”. Barry J Whyte reports on the latest developments in this long-running legal saga.
Leading French tour operators have written to DAA to warn that some of the 5,000 France fans planning to travel for the Six Nations clash with Ireland next March could cancel their plans if their flights are impacted by the Dublin Airport passenger cap. Barry O’Halloran has the details.
Sherry FitzGerald, Ireland’s largest estate agent, expects to report profits of €6 million this year on the back of double digit revenue growth, as it also plans an expansion of the business in Northern Ireland. Colin Gleeson reports.
In our Your Money Q&A, a reader wonders what happens to their private pension pot if they have to go into a nursing home. Dominic Coyle offers some guidance.
In Me & My Money, entertainer Panti Bliss has pension regrets. “I’m an eejit so I started a pension only fairly recently. I should have started years ago, but I was broke until I was in my 40s, never having had a ‘proper’ job.” The drag queen was talking to Tony Clayton-Lea.
Investors still face a long wait for overdue tax reforms of exchange traded funds, with Minister for Finance Jack Chambers kicking it over to the next Government. The recommended changes are long overdue, writes Stocktake.
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Irish merger and acquisitions increased by 11 per cent on the year to 121 deals in the third quarter, outpacing global growth, as technology and financial services transactions drove activity, according to Davy.
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