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15/04/2010
Quinn To 'Accept Full-Time Administrator'
There's been a virtual 'U-Turn' by the belagured Quinn Group with news that it is to tell the Dublin High Court that it will no longer object to the permanent appointment of administrators to Quinn Insurance, owned by Sean Quinn (pictured).
According to RTÉ News, the development could come before the courts as early as today, even though a spokesman for the Quinn Group has declined to comment.
If it proves to be true, this would be a significant shift in the position of the Quinn Group.
It is understood the company has now come to the conclusion that Quinn Insurance would have a better chance if it was dealing with a full-time administrator.
The company has been increasingly concerned about the damage it is suffering as a result of the ban on it doing business in Northern Ireland and the rest of the UK.
If the administrators are appointed, it would clear the way for them to sell the insurance company if they see fit.
See: Quinn Group Goes Into Administration
(BmcC)
According to RTÉ News, the development could come before the courts as early as today, even though a spokesman for the Quinn Group has declined to comment.
If it proves to be true, this would be a significant shift in the position of the Quinn Group.
It is understood the company has now come to the conclusion that Quinn Insurance would have a better chance if it was dealing with a full-time administrator.
The company has been increasingly concerned about the damage it is suffering as a result of the ban on it doing business in Northern Ireland and the rest of the UK.
If the administrators are appointed, it would clear the way for them to sell the insurance company if they see fit.
See: Quinn Group Goes Into Administration
(BmcC)
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