Quinn Insurance bill could rise to €1.65bn
The estimated bill for the administration of Quinn Insurance has risen to €1.65bn (£1.3bn), administrators appointed to the insurer have told the High Court in Dublin.
According to the Irish Times, Mr Justice Nicholas Kearns, president of the Irish High Court, described the revelation that this larger figure may be required from the Insurance Compensation Fund as “shocking”.
The court was originally told that no payment would be required from the fund, then in October 2011 was told that €738m would be required. This figure was subsequently revised to €775m.
The administrators revealed the new amount in their latest report to the court, presented on 31 July
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