Sean Quinn expected to be discharged from bankruptcy within days

Sean Quinn lost control of his businesses in 2011
Sean Quinn lost control of his businesses in 2011

Former billionaire Sean Quinn is expected to receive an automatic discharge on Friday from his €2billion debts to the former Anglo Irish Bank.

But, according to the Sunday Independent, the 67-year-old could be forced to surrender his earnings for the next two years once his bankruptcy expires.

Mr Quinn lost control of his firms in 2011 when a receiver was appointed to his manufacturing businesses.

The former tycoon benefits from the Irish government’s new insolvency laws that cut the period of bankruptcy from 12 years to three.

However, UUP MLA for Fermanagh and South Tyrone, Tom Elliott, said “sizeable support” for Mr Quinn remains “in parts of the county where he had works”.

“There would be a wave of support from people who basically believe that he put a huge amount into that community and did a lot for it,” said Mr Elliott. “There would be widespread support in south and west Fermanagh where some believe he created jobs for people that would never have been there for communities.

“They say the jobs kept communities together that would not have survived.”

Mr Elliott added there was also “suspicion in certain quarters and certain areas”.

“I think that would naturally go with the territory he is in,” he added. “In any circumstances there is always a certain amount of suspicion about big business people.”

Before Christmas it emerged that Mr Quinn was returning in an advisory capacity to the new Quinn manufacturing business which was bought by a consortium of local businessmen and supporters.