Quinn administrators earn €13m

Accounting firm Grant Thornton received an additional €2.8m in fees last year bringing to €13m the amount the firm has received for acting as administrators to the Quinn Insurance group.

In a written Dáil response to Fianna Fáil’s Billy Kelleher, Minister for Finance, Michael Noonan confirmed that Grant Thornton received the additional €2.8m (incl Vat) in respect of the work overseen by joint administrators and Grant Thornton partners, Michael McAleer and Paul McCann.

The two were appointed as administrators to Quinn Insurance Ltd (QIL) by the High Court at the request of the Central Bank due to concerns over the solvency position of the firm in 2010.