Quinn administrators in sale hope

THE administrators of Quinn Insurance hope to have identified a preferred bidder that will purchase the group by the end of the month, the High Court heard yesterday.

The court was also informed in a report from the joint administrators Michael McAteer and Paul McCann, of Grant Thornton, that new directors have been appointed to the board of Quinn, that the insurer’s performance in the British market was better than expected and that Quinn no longer provided insurance to cover solicitors.

Bernard Dunleavy BL, for the administrators, in presenting their latest report to the President of the High Court Mr Justice Nicholas Kearns, said “significant progress” has been made and “the end was in sight” in relation to finding a buyer for the insurance group.