Quinlan firm wins court fine contract
FINANCIER DEREK Quinlan may be best known for investing on behalf of the wealthy, but it seems recessionary times have brought his business a little bit closer to the cash-strapped members of society.
While not personally expected to knock on doors looking for cash, a company of which Mr Quinlan is director has won a tender from the Department of Justice to manage “the collection of overdue court-imposed fines”.
The contract, won by Dublin-based Tazbell, involves managing the collection of unpaid court fines through “proactive contact attempts” with the debtor. This will include “traditional credit management methods”, such as letters, phone calls and e-mails.
It runs for one year, with a possibility of being extended for a further four years.
Tazbell, based in Dublin’s Eastpoint Business Park, counts Mr Quinlan among its directors, with his wife Siobhán Quinlan listed as a shareholder.
Mr Quinlan is among the top 10 property investors whose loans are being transferred at a discount to the National Asset Management Agency. He has relocated to Switzerland and recently placed a luxury home on Dublin’s Shrewsbury Road on the market.
Also listed as director of Tazbell is Thomas Dowd, who was a director of Quinlan Private, the high-profile investment firm led by Mr Quinlan until his departure last year. Mr Dowd and a number of fellow Quinlan directors subsequently established a new property business called Avestus, which has some €8 billion in assets under management.
Quinlan Private was involved in multi-billion-euro international property deals, typically involving syndicates of wealthy individuals. As with many property investments, the ventures suffered as the global economy faltered.
Debt collection is one of several services provided by Tazbell, which has toll collection and outsourcing businesses within its portfolio. The firm employees 250 and also runs Park Rite car parks.