The Department of Finance says it has issued no direction regarding a deal between the Quinn family and the former Anglo Irish Bank. The Sunday Business Post reported at the weekend that the Department of Finance blocked a proposed peace deal between the Quinn family and the former Anglo Irish Bank, in the wake of the Siteserv controversy.
The Department of Finance confirmed to Northern Sound news today that no direction had been issued. A spokesperson said the decision regarding a deal is a matter for the special Liquidator and he alone has the power to put in place whatever he deems necessary to generate the best return for the taxpayer.
The Minister for Finance has retained the power to issue directions to the Special Liquidator but this has only been used sparingly on significant issue . The Department of Finance say any such direction would be published and put into the public domain.
The deal being discussed would see the family dropping its 4.3 billion euro claim against the Minister for Finance, the State and the former board of Anglo Irish Bank arising from the seizure by Anglo of the Quinn group in 2011.
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