Settlement between State and PwC over Quinn Insurance collapse to reach €83m

Fine Gael’s Colm Burke pointed out the State has received less than 4% of the total Quinn liability back from auditors, saying 'they’re walking off the pitch as if no wrong was done'.

A settlement between the Irish State and PwC over the collapse of Quinn Insurance will eventually amount to €83m, an Oireachtas committee has heard.

The Public Accounts Committee (PAC) hearing on Thursday morning saw the Central Bank appear to discuss the Insurance Compensation Fund and an unauthorised breach of its own credit limits to the tune of €738m over the last October bank holiday.