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06/05/2010
Quinn Steps Back As Stormont Steps In
Just hours after news that Sean Quinn is to stand down from the board of the troubled Quinn Group, a Stormont nominee is to step in to co-ordinate the NI Government's response to the situation at Quinn Insurance.
The Fermanagh businessman said his decision was based on his need to "concentrate in the short term on family interests outside of Quinn Group" as both he and his wife Patricia stepped back from their board positions.
Last week he revealed plans to sell the insurance arm news that came as administrators announced job losses hitting more than a third of the company's 2,400-strong workforce.
The NI Enterprise Minister Arlene Foster and Employment and Learning Minister, Sir Reg Empey have now jointly announced the appointment of Leslie Ross, to look after Quinn from their perspective.
The Enterprise Minister said: "Mr Ross will co-ordinate the activities of the Department of Enterprise, Trade and Investment, the Department for Employment and Learning, Invest Northern Ireland, InterTradeIreland, and local councils in response to the problems facing Quinn Insurance.
"Leslie Ross has extensive experience in economic development, having joined the Industrial Development Board on its formation in 1982.
"is expertise will be a valuable attribute in leading the inter-agency approach to help those facing redundancy," she explained.
Looking to the medium term, Arlene Foster said: "Invest NI will work with Enterprise Ireland when this will be to our mutual benefit.
"Both agencies are already exploring whether funding can be secured through Europe's Interreg IV Programme to support retraining initiatives and help the start-up of businesses in the affected area."
The Employment and Learning Minister Sir Reg Empey said: "We must use all resources available to us to help those whose jobs have been lost and provide support and training to make finding another job more achievable.
"The Employment Service already has good working relationships with FÂS (Foras Áiseanna Saothair) the Republic of Ireland's National Training Authority and they will continue to work together.
"Through taking a multi-agency approach to tackling this problem, we can work together to enhance the short and long-term prospects of those people affected," he explained.
"This is crunch time, make no mistake about it. We face a huge challenge on a global scale and we will be judged by our response to it," he concluded.
Arlene Foster added: "Quinn Insurance and the Quinn Group makes an important contribution to the Northern Ireland economy and I want to reassure workers that I will do all I can to secure the future of Quinn Insurance.
"I hope to meet with the Regulator early next week to discuss the various issues that were raised by Quinn employees at a meeting held yesterday."
See: Black Friday Looms For Quinn Insurance
The Fermanagh businessman said his decision was based on his need to "concentrate in the short term on family interests outside of Quinn Group" as both he and his wife Patricia stepped back from their board positions.
Last week he revealed plans to sell the insurance arm news that came as administrators announced job losses hitting more than a third of the company's 2,400-strong workforce.
The NI Enterprise Minister Arlene Foster and Employment and Learning Minister, Sir Reg Empey have now jointly announced the appointment of Leslie Ross, to look after Quinn from their perspective.
The Enterprise Minister said: "Mr Ross will co-ordinate the activities of the Department of Enterprise, Trade and Investment, the Department for Employment and Learning, Invest Northern Ireland, InterTradeIreland, and local councils in response to the problems facing Quinn Insurance.
"Leslie Ross has extensive experience in economic development, having joined the Industrial Development Board on its formation in 1982.
"is expertise will be a valuable attribute in leading the inter-agency approach to help those facing redundancy," she explained.
Looking to the medium term, Arlene Foster said: "Invest NI will work with Enterprise Ireland when this will be to our mutual benefit.
"Both agencies are already exploring whether funding can be secured through Europe's Interreg IV Programme to support retraining initiatives and help the start-up of businesses in the affected area."
The Employment and Learning Minister Sir Reg Empey said: "We must use all resources available to us to help those whose jobs have been lost and provide support and training to make finding another job more achievable.
"The Employment Service already has good working relationships with FÂS (Foras Áiseanna Saothair) the Republic of Ireland's National Training Authority and they will continue to work together.
"Through taking a multi-agency approach to tackling this problem, we can work together to enhance the short and long-term prospects of those people affected," he explained.
"This is crunch time, make no mistake about it. We face a huge challenge on a global scale and we will be judged by our response to it," he concluded.
Arlene Foster added: "Quinn Insurance and the Quinn Group makes an important contribution to the Northern Ireland economy and I want to reassure workers that I will do all I can to secure the future of Quinn Insurance.
"I hope to meet with the Regulator early next week to discuss the various issues that were raised by Quinn employees at a meeting held yesterday."
See: Black Friday Looms For Quinn Insurance
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09 April 2010
Garda May Be Called As Quinn Group 'Short'
The Quinn Insurance saga has taken another twist with a possibility the case may be referred to the Irish police, An Garda Siochana. There have been allegations that the company is some €100 million 'short' to cover its insurance policies.
Garda May Be Called As Quinn Group 'Short'
The Quinn Insurance saga has taken another twist with a possibility the case may be referred to the Irish police, An Garda Siochana. There have been allegations that the company is some €100 million 'short' to cover its insurance policies.
10 September 2010
Quinn Customers 'Pay For Losses'
There is to be a 10% increase in motor and home insurance for Quinn Insurance customers in the coming months after news today that the struggling cross-border business reported operating losses of €127m for last year. County Fermanagh-based owner Sean Quinn owes Anglo Irish Bank €2.
Quinn Customers 'Pay For Losses'
There is to be a 10% increase in motor and home insurance for Quinn Insurance customers in the coming months after news today that the struggling cross-border business reported operating losses of €127m for last year. County Fermanagh-based owner Sean Quinn owes Anglo Irish Bank €2.
28 July 2010
Irish Jobs' Response 'Could Be Better': SF
Enhanced co-operation between the Belfast and Dublin administrations could greatly assist existing workers and in helping the unemployed get jobs. Foyle Sinn Féin MLA Martina Anderson has said that the Stormont Executive's response to recent redundancies at Quinn Insurance was not as effective as the measures taken by the Dublin government.
Irish Jobs' Response 'Could Be Better': SF
Enhanced co-operation between the Belfast and Dublin administrations could greatly assist existing workers and in helping the unemployed get jobs. Foyle Sinn Féin MLA Martina Anderson has said that the Stormont Executive's response to recent redundancies at Quinn Insurance was not as effective as the measures taken by the Dublin government.
22 July 2010
Fermanagh Quinn Jobs Saved
Workers in troubled Quinn Insurance got some good news this week with the withdrawal of redundancies at the firm's Enniskillen office. Seventy-five planned redundancies in the Lakeland town will not now be implemented. The firm's administrator has confirmed that the redundancies from its consumer sales business will not proceed.
Fermanagh Quinn Jobs Saved
Workers in troubled Quinn Insurance got some good news this week with the withdrawal of redundancies at the firm's Enniskillen office. Seventy-five planned redundancies in the Lakeland town will not now be implemented. The firm's administrator has confirmed that the redundancies from its consumer sales business will not proceed.
10 May 2010
Laing O'Rourke Chase Quinn Deal
A Kent-based multi-national construction business is eyeing-up the troubled Quinn Group. Laing O'Rourke is understood to have held talks over a potential takeover of parts of its business. Delegates from the construction giant spent two days last month at the Quinn headquarters, in Co Cavan, it is reported.
Laing O'Rourke Chase Quinn Deal
A Kent-based multi-national construction business is eyeing-up the troubled Quinn Group. Laing O'Rourke is understood to have held talks over a potential takeover of parts of its business. Delegates from the construction giant spent two days last month at the Quinn headquarters, in Co Cavan, it is reported.
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Northern Ireland WeatherToday:A showery start with outbreaks most frequent north of Lough Neagh and through the morning, before dwindling during the afternoon as the northwest breezes ease and brighter spells of weak sunshine prosper. Maximum temperature 8 °C.Tonight:A dry night, save for a few light showers around the coasts, with prolonged clear spells and light winds bringing a frosty dawn for many in central and southern parts. Minimum temperature -3 °C.
