Taoiseach intervenes to help Quinn

ENTERPRISE Ireland has been drafted in by the Taoiseach in an attempt to alleviate the threat of job losses at the Quinn Group – the general insurance division which was placed in provisional administration by the High Court last week.

In a short statement, published yesterday, the Taoiseach’s office said that Mr Cowen had spoken directly with Quinn Group chairman, Sean Quinn on Thursday night. In the aftermath of the conversation, Mr Cowen asked the chairman and chief executive of Enterprise Ireland to meet with Quinn representatives “to see if they can be of any assistance.”

While Enterprise Ireland’s potential role remains vague, Mr Cowen said yesterday that the request was aimed at protecting the 5,500 jobs in the wider Quinn Group.

“It’s about trying to focus and see can we find a solution. We are bringing people together. Enterprise Ireland have been in touch with the Quinn Group and we have to respect everyone’s position.

“My concern is to look at the employment situation and try to get people to focus on trying to find a solution. It’s a concern for the people who work in the group and for the area itself,” Mr Cowen added.

Mr Cowen would not comment on the nature of any possible solutions raised during his discussions with Mr Quinn.

Thursday’s discussion between the two men was requested by Mr Quinn and mainly used by him to reiterate his earlier-made public criticisms over the action taken by the Financial Regulator to apply to the High Court for administrators to Quinn Insurance, over concerns for its solvency and breaches of regulation.

The Taoiseach said he had pointed out to Mr Quinn that the regulator acted independently and that he had not spoken to the regulator since the court order appointing Paul McCann and Michael McAteer of Grant Thornton as administrators to the business last Tuesday.

Meanwhile, two rallies – in support of Quinn Insurance employees – are planned for this week.

Cavan Chamber of Commerce is to hold one in Cavan town on Wednesday; a day after staff from the firm’s Derrylin, Navan and Cavan offices plan to rally in Central Dublin. An online petition, supporting the workers has also been established.