Sean Quinn will pay just €20,000 to creditors after he exits bankruptcy today. The former billionaire has had debts of €2bn written off.

On Monday the High Court was informed that Sean Quinn has struck a deal with Chris Lehane - the official overseeing his bankruptcy.

Under personal insolvency law the businessman will pay €10,000 from his earnings for two years to Mr Lehane for the benefit of his creditors.

He was once Ireland's richest man, but in early 2012 the one time billionaire was declared bankrupt because he could not pay his massive debts to the former Anglo Irish Bank.

Reports suggest he has landed consultancy work with part of his former business empire in Derrylin.

Editor of the Sunday Business Post, Ian Keogh, says how much Mr Quinn has lost in the crash is unclear.