FG urges Lenihan to outline views on Quinn rescue plan

FINANCE Minister Brian Lenihan has been urged to appear before an Oireachtas Committee tomorrow to explain the Government’s position on proposals by the state-owned Anglo Irish Bank to take a majority share in Sean Quinn’s business empire.

Talks over the weekend failed to convince the Financial Regulator to allow more time to strike a deal and he will press ahead with today’s High Court hearing to appoint a permanent administrator to Quinn Insurance.

The Quinn Group is likely to seek an adjournment to the hearing for “whatever additional details need to be ironed out to get everybody comfortable with what the proposals are”, according to group development director Kevin Lunney.