“Business as usual” administrators tell Court
Administrators for Quinn Insurance say in their third report to court that it is "business as usual" while they work on the prospective sale of the group and the number of redundancies has been cut from 900 to 800, the Irish Independent reports.
President of the High Court, Mr Justice Nicholas Kearns, was told elements of the report covering Quinn’s solvency, were confidential.
Bernard Dunleavy, for administrators Michael McAteer and Paul McCann of Grant Thornton, said the Financial Regulator had sought changes at board level across the insurer and those changes had been effected in 19 of 20 subsidiaries.
The regulator had also asked the administrators to address certain confidential issues and a one-page synopsis of their response was being handed into the court, counsel said.
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