It's been a rollercoaster ride for Seán Quinn these past four years – and past four decades too – so to receive a missive from the Insolvency Service immediately in the wake of having made a triumphant return to the former Quinn Group premises in Derrylin, Co Fermanagh, in the run-up to Christmas must have been par for the course for the former billionaire.

On December 23rd, Quinn was photographed with a tray of whiskey and beer inside the Derrylin premises, where the conclusion of the QBRC takeover of the construction materials businesses was being celebrated. On Christmas Eve he received a letter from the Insolvency Service asking him about his income, the Official Assignee in Bankruptcy, Chris Lehane, having begun an assessment of his situation on December 22nd, in the wake of media reports that Quinn might be engaged as a paid adviser to QBRC.

By January 5th, Quinn not having returned the income payment assessment form sent to him before Christmas, he was contacted by Lehane to tell him an application would be made in court seeking a payment order that would see money being deducted from his income for two years. Quinn wrote back the next day, saying he was living on the State pension, had no income from QBRC and his income was “substantially below” that allowed for in the guideline on reasonable living expenses for people in his position. Given this, he was hoping Lehane’s application would be withdrawn.

That didn’t happen. The two men met on January 8th and it was agreed a payment order for €10,000 a year for two years would be sought from the court. The order was secured under section 85D of the Bankruptcy Act. The section requires the court to have regard to the living expenses of the bankrupt when making such orders, which can be varied where there has been a material change in a person’s circumstances. The €10,000 a year will not go far towards paying off Quinn’s €2.8 billion debt.