Diarmuid Wilson (Fianna Fail)

Like other speakers, I was shocked and saddened to learn this afternoon that an administrator had been appointed to Quinn Insurance. I know Seán Quinn personally. He is a practical patriot whose initiative, risk taking and investment have created over 7,000 jobs worldwide. Some 5,500 of those people are employed in Ireland, thousands of whom are employed in County Cavan and the surrounding counties. The Quinn Group issued a statement today stating that in the context of the continued profitability of the group - currently in excess of €20 million per month - it was deeply disappointing that an administrator had been appointed to one of its branches, namely, Quinn Insurance. The statement went on to point out that the group felt that given time, the issue could have been resolved to the benefit of all concerned. I appeal, through the Leader, for the Minister with responsibility for this area to be called into the House. We should put to him the importance of Quinn Insurance and the Quinn Group to the economy. The Quinn Group is equivalent to five Dells and should be given all the time and support necessary to continue in operation.

On the "News at One" today, a Mr. McCann said customers in Ireland would not be affected and that the decision on whether to sell the company would be made in the future. It is outrageous for him to make this statement within minutes of being appointed as an administrator to the company. I call on him to withdraw that statement and clarify the situation. This is a case of administration, not liquidation. The Regulator has a job to do and is now on site in the company's office in Cavan. If it was not for Seán Quinn, the Regulator and Mr. McCann from Grant Thornton would only see waste ground and bogland when they came to Cavan. The man we are talking about made that difference through his commitment, initiative and investment in this country.