The property investor who during the Celtic tiger led the syndicate that bought The Savoy Group of landmark London hotels has filed for bankruptcy in Britain. In a statement, Derek Quinlan explains why he decided to do so.
Iranian-born businessman Robert Tchenguiz bought a €55 million debt of Derek Quinlan for just €5,000 – and called it in. The Irish financier has countersued and is prepared to fight his action.
There were eight Nama loan books linked to Quinlan Private – only one made a loss. What went wrong?
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