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
4:20 pm
Mr. Michael McAteer:
With regard to two transactions that were recorded in the accounts in 31 December 2008, as was mentioned previously, it is recorded in accounting legislation as "gifts". I would guess this but gifts usually mean that the money was written off between companies. Money was owed by Barlo Financial Services to the tune of €75 million and then written off and, therefore, treated as a gift.