Oireachtas Joint and Select Committees
Wednesday, 10 October 2012
Joint Oireachtas Committee on Finance, Public Expenditure and Reform
Quinn Insurance and Insurance Compensation Fund: Discussion
2:50 pm
Pearse Doherty (Donegal South West, Sinn Fein) | Oireachtas source
Yes. There are no representatives of the company here today, that is, no representation by the culprits who incurred these losses.
The issue is that the State sold an insurance company without full knowledge of its status. Last August, Mr. Justice Nicholas Kearns described the escalation in the cost as "truly shocking". He said the courts were informed in the first instance that there would be no call on the fund at all.
Is Mr. McAteer in a position to confirm whether that is accurate? Did somebody inform the courts that there would be no call on the compensation fund in the context of Quinn Insurance?
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