Statement from the Quinn family - 15 November 12

The job losses announced today by Liberty Insurance is a terrible indictment on the deal agreed by Anglo Irish Bank and the Joint Administrators of Quinn Insurance in April 2011. 



In October 2010, six and a half months after the administrators were appointed to Quinn Insurance they assured the Irish public that “ there would be no call on the Insurance Compensation Fund ” yet today the figure stands at €1.65 billion. 



In April 2011, the Administrators assured both the staff of Quinn Insurance and the Irish Public that “ all the jobs are preserved in the Republic of Ireland and Northern Ireland ". 



In August 2012, the Irish Government stated that it had “been misled by incomplete information” from the Administrators. The Quinn family has continuously maintained that the deal agreed between Anglo Irish Bank and the Administrators will have the worst possible outcome for the State. 



We have repeatedly called for a public inquiry into the Administration of Quinn Insurance and have openly confirmed our willingness to participate in same. More recently we have been denied an audience before the Oireachtas Finance Committee to voice our concerns in relation to these and related matters. Following today’s developments we feel more than ever that a public inquiry is required.