€1.5m in further fees approved for Quinn Insurance administrators

THE High Court has approved further fees for the joint administrators of Quinn Insurance and their firm, Grant Thornton, for the four months from October to the end of January next. The fees, likely to be at least €1.5 million, plus legal fees, will be paid from the assets of the company.

The administrators, Michael McAteer and Paul McCann, and Grant Thornton received some €1.5m for the three months of July, August and September, and had applied to the court to be paid fees calculated on a similar basis for the months of October, November, December 2010 and January 2011.

They also sought that fees for their lawyers, McCann Fitzgerald, for the four months to January 2011 should be calculated on a similar basis to fees already paid to the firm over the past months.