Administrator also worked for firm that owed Quinn €2.19m
Quinn Insurance administrator Michael McAteer was also administrator for Irish Car Rentals (ICR), which owed Quinn €2.19m. He has denied there was a conflict of interest, the Irish Independent reports.
"There was no material conflict of interest," a spokesman for McAteer said. "It was a normal, standard arrangement. Quinn got precisely the same treatment as every other creditor."
McAteer was appointed examiner to ICR in February and joint administrator to Quinn Insurance at the end of March.
Quinn owed money
Quinn Insurance provided ICR's catastrophe insurance cover for claims over €100,000. It also paid claims under that amount and the agreement was that ICR would then repay that debt. ICR sought court protection in February and Quinn was left out of pocket.
"The court would have been aware when it appointed him to both positions, and the financial regulator would have been aware," McAteer's rep said.
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