Seismic, but not surprising

SEAN QUINN’S decision to apply for voluntary bankruptcy at the high Court in Belfast is a seismic event, but not a great surprise.

Quinn has fallen a long way since the heady days of the boom, when it was reckoned that he and his family had a net worth of €4.5bn, with around eight thousand people employed worldwide. He was viewed as Ireland’s richest person.

Since then, his fortunes have changed for the worse.