Published Thursday, 19 January 2012
Speaking to the Impartial Reporter, the businessman who was declared bankrupt in Dublin on Monday said Irish Bank Resolution Corporation, the new name for Anglo Irish Bank, want to "destroy" his name and leave him and his family with nothing.
Mr. Quinn's comments come as speculation mounts that his wife, Patricia and five children, Colette, Ciara, Aoife, Brenda and Sean Junior could be made bankrupt next, and that he will lose his Ballyconnell home.
In the exclusive interview with The Impartial Reporter published on Thursday, Mr. Quinn claimed he is heading into retirement "penniless".
There are over 35 foreign companies giving their expert advice, and bleeding every penny from the company. They are like vultures feeding off a carcass.
Sean Quinn interview in the Impartial Reporter
The 65-year-old says IBRC, who he still refers to as Anglo, has informed him of their intention to try and recoup the €2.8 billion they say he owes them and he says they are after his home.
Speaking for the first time since being made bankrupt in Dublin earlier this week, Mr. Quinn described Monday's judgement as "devastating" for him, and said it was something that he had hoped would have be avoided.
He said: "Because I haven't owned any companies or businesses since 2002, the assets that can be taken from me are minimal, however, I feel that the fact that I am now bankrupt has ruined my reputation which I built up over many years through a lot of hard work.
"I am now heading into retirement penniless, and I'm very sad that it has come to this," he said.
Mr. Quinn believes that the huge debts "will never be paid back" now that he is no longer in control of his global insurance, manufacturing and property businesses.
He says he simply cannot pay them.
"Every opportunity that they (IBRC) get, they say, do you realise that Sean Quinn borrowed €2.8 billion? That is just not true.
"Anglo gave the Quinn companies €2.3 billion to support Anglo's own shares, because of their fear that their bank would collapse. I signed personal guarantees on all of Quinn Group borrowings, and that is how I became bankrupt.
"I no longer own or control any business, they have taken my tools from me, so I no longer have the means of paying back any money", he said.
The Derrylin man says he continues to be grateful for all the support he has received from local people in Fermanagh, Cavan and the surrounding area.
"I'd say there is more support for the Quinn family in the last two or three months than there has ever been and the reason for that is that I think it's beginning to dawn on people that there is something fundamentally wrong," he said.