Administrator Grant Thornton earned €20m from Quinn Insurance collapse

Finance Minister Michael Noonan has confirmed that Grant Thornton has received over €20m in fees and costs arising from the administration of Quinn Insurance.

In a written Dáil reply to Fianna Fáil’s Michael McGrath, Mr Noonan confirmed that the €20.25m, including Vat, has been paid out in fees to Grant Thornton since 2010.

Michael McAteer and Paul McCann were appointed as administrators to Quinn Insurance Ltd by the High Court at the request of the Central Bank, due to concerns over the solvency position of the firm in 2010.