Seán Quinn to pay €10,000 per year under bankruptcy ruling

The former billionaire Sean Quinn is to pay €10,000 per year for the next two years to the Official Assignee Chris Lehane, the bankruptcy court has ruled.

Former billionaire emerges from his period of bankruptcy this Friday.   Mr Lehane, whose office oversees the affairs of bankrupts, sought the order after reading media reports before Christmas that Mr Quinn might provide services to the new owners of the former Quinn Group construction materials business.Mr Quinn is due to emerge from his three-year period of bankruptcy this Friday.Under bankruptcy law an order may be sought by Mr Lehane’s office requiring a former bankrupt to make payments from his income or assets for the benefit of creditors, for a period of up to five years after he or she emerges from bankruptcy. The order must be sought prior to the bankrupt emerging from bankruptcy.

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