Regulator and Anglo lock horns over Quinn

HIGH-POWERED talks involving the Financial Regulator and top executives of Anglo Irish Bank are likely to continue through the weekend in an effort to prevent Quinn Insurance being put into administration.

Talks began at 5pm last night with Anglo lobbying the regulator not to put the insurance company into administration until it had adequate opportunity to make its case for saving the group. Last week, provisional administrators were appointed by the High Court to Quinn Insurance.

Anglo has put forward a financial rescue package for the entire Quinn Group which owes it a total of €2.8 billion.