Lobby group claims Quinn takeover is a bad deal for Irish taxpayers

A lobby group has made a last-ditch challenge to derail Anglo Irish Bank and Liberty Mutual’s planned takeover of Quinn Insurance.

The Irish Independent newspaper claims that Concerned Irish Business group, which represents about 580 businesses, is arguing that the sale is bad for the taxpayer and overly favourable to bondholders and the new owners.

They’re asking the court to postpone the sale so other options for the insurer can be considered.

The group had previously supported plans by the Quinn family to take over the insurer in partnership with Anglo Irish Bank.

 

 

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