Dáil Éireann Debate, Tuesday - 25 March 2014
268. Deputy Billy Kelleher asked the Minister for Finance if he will publish the fees and costs of the administrators of Quinn Insurance following a recent media report stating that four partners of a company (details supplied) involved in the work attended the Superbowl; and if he will make a statement on the matter. [14143/14]
View answerIn 2010 Joint Administrators were appointed by the High Court at the request of the Central Bank because of concerns about the solvency position of Quinn Insurance Limited (QIL).
All fees paid to Grant Thornton as Administrators of QIL are submitted to and approved by the President of the High Court.
These fees are disclosed in QIL financial statements and set out in the table below are the audited fees paid to Grant Thornton from the 2012 and 2011 accounts. The provisional unaudited figures for 2013 fees are also included.
|
2011 €m |
2012 €m |
2013 (provisional) €m |
|
7.5 |
2.7 |
2.8 |
In my role as Minister for Finance, I have emphasised to the Joint Administrators the importance of taking appropriate measures to ensure cost effective management of the claims settlement process and ensuring that everything possible is done to minimise the call on the ICF.
