http://www.bbc.co.uk/news/uk-northern-ireland-15690801
Surely a bank lending money to someone to buy it's own shares is illegal?!?!Contracts for Difference (CFD) were Quinn's undoing - in essence they are financial products which allow you to bet on shares without having to own the shares. In that respect they are a derivative - they derive their value from the underlying share.
But when the Anglo Irish Bank share price nosedived Quinn was in trouble. He was hit with a series of 'margin calls' which meant he had to keep putting up more and more of his money.
Eventually things got so bad he had to crystallise his losses by buying the shares outright - which he did by borrowing the 2bn euros from the Anglo Irish Bank.
Anglo Irish Bank seeks Quinn family's foreign properties
http://www.bbc.co.uk/news/uk-northern-ireland-15273804
The bank claims the family sold assets worth almost $200m to relatives in return for a laptop computer and 1,000 euros.