Restructuring ‘good news’ for economy

ANGLO has no chance of getting back the full €2.88 billion it is owed by Seán Quinn and his family, Finance Minister Michael Noonan has admitted.

But he said the restructuring of the Quinn Group represented “good news” because it would protect jobs and drive the insurance industry forward.

A receiver has been appointed to the Quinn family’s share in the group. This means Mr Quinn and his family will no longer have a role in its ownership or management.