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
4:30 pm
Mr. Michael McAteer:
That €1.3 billion represents loans given to the wider Quinn Group, secured on assets within the wider Quinn Group and also secured by guarantees given by the subsidiary companies of Quinn Insurance. So it was €1.3 billion lent to Quinn Group and not to Quinn Insurance but secured on subsidiary assets of Quinn Insurance.
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