Department of Finance blocks Quinn-Anglo deal
The deal would have wrapped up the legal battle and resulted in a €1.2bn dividend payment to the state.
The Department of Finance has blocked a proposed peace deal between the Quinn family and the former Anglo Irish Bank, in the wake of the Siteserv controversy.
The Sunday Business Post reports that the Department rejected the deal.
Negotiations between the bank and the Quinn family to settle a looming €4.5bn court battle have now ended.
It's understood the department was unwilling to agree a deal, in light of the negative publicity surrounding the sale of Siteserv.
The deal would have wrapped up the legal battle and resulted in a €1.2bn dividend payment to the state.
The deal would have seen the Quinn family drop action over €2.4bn in loans received from the bank, and the bank drop charges against members of the family over allegations of an asset-stripping conspiracy.
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