Sean Quinn set to exit bankruptcy

Former billionaire Sean Quinn will exit bankruptcy this Friday having had debts of €2bn wiped off.

The Cavan businessman is reported to have landed consultancy work and has agreed to hand over just €20,000 to his creditors.

He was once Ireland's richest man, but in early 2012 the one time billionaire was declared bankrupt because he could not pay his massive debts to the former Anglo Irish Bank.

However, his three years in the financial wilderness are officially over this Friday - and it is suggested he has already landed consultancy work with part of his former business empire in Derrylin.

Today the High Court was informed that Sean Quinn has struck a deal with Chris Lehane, the official overseeing his bankruptcy.

Under personal insolvency law the businessman will pay €10,000 for two years from his earnings to Mr Lehane for the benefit of his creditors.