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.

More than 300 people are to lose their jobs after the High Court approved the appointment of provisional liquidators to the company that operates a private hospital in South County Dublin.

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.

A RECEIVER has been appointed to take control of shares held in two companies by embattled developer Paddy Kelly.