Court to hear from Compensation Fund representatives on €600m funding for Quinn

The President of the High Court said today that he wishes to hear from the representatives of State's Insurance Compensation Fund before considering any application to allow Quinn Insurance group draw any of the €600m it claims it requires from that fund.

In addition, Mr Justice Nicholas Kearns stated said that he wanted an independent review of the fees sought by sought by the firm of merchant bankers Macquarie Capital Europe for their handling of the proposed sale of Quinn Insurance to a joint venture involving Anglo Irish Bank and US insurance giant Liberty Mutual.