A proposal for the transfer and sale to Catalina Insurance Ireland Ltd of 1.3m general insurance policies, held mainly by UK-based customers of Quinn Insurance Ltd (QIL) will go before the High Court for approval in June.

The number of fines over €100,000 imposed on financial institutions by the Central Bank since the start of the financial crisis has increased sharply in the last three years.

A €100m repayment by the administrators of Quinn Insurance Ltd to the State-backed Insurance Compensation Fund, from which €1.158bn has been drawn down to date to meet claims of policy holders, has been approved by the High Court.

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.

The trial of three former Anglo Irish Bank directors has heard that the Financial Regulator fully supported the bank’s allegedly illegal plan to protect their share price.

The US insurance firm that assumed the former business of Quinn Insurance two years ago returned to profit last year.

Insurance policyholders look set to fork out for the failures of the Quinn empire until 2037, the Department of Finance has said.

The joint administrators of Quinn Insurance Ltd are suing the firm’s former auditors PriceWaterhouseCoopers for around €1bn over alleged negligent auditing of the company’s accounts over several years.

Quinn Insurance and subsidiaries last year returned to profit, recording pre-tax profits of €99.8m in spite of revenues more than halving to €223m.

The country’s second largest health insurer last year went into the red after a drop in revenues.

Insurance customers could be paying levies to cover Quinn’s losses for 25 years as the size of the firm’s financial black hole doubled and the Government expressed anger at being “misled” on the scale of the crisis.

The President of the High Court has cut by 20% the fees sought by the joint administrators of Quinn Insurance Ltd (QIL).

The sale of Quinn Insurance Ltd to the Liberty Mutual/Anglo Irish Bank joint venture was put in jeopardy as a result of under-reporting of reserves by QIL's employees, the High Court heard today.

THE alternative to the sale of Quinn Insurance Ltd (QIL) would be liquidation, massive job losses and “further catastrophic losses to the local community”, the president of the High Court said yesterday when giving his reasons for approving the sale.

THE President of the High Court has approved the sale of Quinn Insurance Ltd to a joint venture of US insurer Liberty Mutual and Anglo Irish Bank.

THE administrators of Quinn Insurance are to be paid more than €1.7 million in fees for the first three months of the year.

The High Court has approved more than €1.7m in fees incurred by the joint administrators of Quinn Insurance Ltd for the first three months of this year.

The Quinn Insurance takeover will be complete by mid-August after company returns revealed losses of €706m in 2009.

Quinn Insurance, the leading insurance firm founded by tycoon Sean Quinn, had losses of €706m in 2009.

A joint venture by Anglo Irish Bank and US Liberty Mutual has been identified as the preferred bidders for the Quinn Insurance Ltd, the High Court heard today.

THE administrators currently in charge of Quinn Insurance Ltd (QIL) and its various subsidiary companies have reorganised the boards of each business in accordance with their effective temporary taking over of the group, documents filed with the Companies Office show.

It will not be necessary to invoke any involuntary compulsory redundancies at Quinn Insurance, it was announced today, following the receipt of applications for voluntary redundancy.

Administrators appointed to Quinn Insurance have warned of job cuts, the embattled company revealed last night.

THE sudden decision by Sean Quinn to give up the fight against administration came less than 24 hours after regulator Matthew Elderfield said he would lift the sanction if Quinn could come up with the money.

The High Court has this afternoon appointed permanent administrators to take over the running of Quinn Insurance.

THE High Court has adjourned attempts by the country’s financial watchdog to put a beleaguered insurance firm, owned by tycoon Seán Quinn, into permanent administration.

The High Court's decision to adjourn the hearing on the future of Quinn Insurance for a week is being widely welcomed.

The Financial Regulator's application to have two joint administrators to the Quinn Insurance group confirmed by the High Court has been adjourned for a week.

THE implosion of our financial services sector just keeps giving more trauma and we have been constantly misled with only partial, minimalist, optimistic instalments of information. This has led the state to take ownership of virtually the entire indigenous banking sector and its liabilities.

The Quinn Group today blasted as “pre-emptive, aggressive and unnecessary” yesterday’s move by the Financial Regulator to appoint provisional administrators to Quinn Insurance.

The High Court has appointed two joint provisional administrators to the Quinn Insurance Ltd.

QUINN Insurance Group has lost a High Court bid to strike out parts of the Sunday Tribune’s defence in forthcoming libel proceedings over articles alleging it recruited gardaí to approach solicitors to offer them bonuses on their fees to recommend reduced settlements to clients in cases against Quinn Direct.

One of Ireland’s richest men has stepped down from his flagship business and been fined a record €3.5m by the state’s financial watchdog, it was revealed today.