Quinn Insurance family deal

A close family member of Sean Quinn's family is planning to buy Quinn Insurance with US funders being sounded out to back the deal, the Belfast Telegraph reports.

Sean Quinn’s brother Peter said: “There isn't a move by the family at the minute but that's not to say there won't be any in the future.”

Some 46 multi-national companies have expressed and interest in the company.

Six week target

The Belfast Telegraph says sources have said that keeping the firm in the family has always been the case and that the plan has always been to have the business back within six weeks of entering permanent administration.

It quotes a source close to the Quinn family saying: “I know representatives are actively seeking investors from New York but before a takeover could be granted, the prospective buyers would need to ensure the administrators that not only could they afford to take over the business but that the balance of the business was efficient.