Quinn seeks reasons for estimated €1.65bn cost of insurance business collapse
Sean Quinn has urged the Department of Finance to seek an explanation as to how a figure €1.65bn was arrived at as the sum needed to cover the cost of the collapse of Quinn Insurance.
An official from the Central Bank told the High Court yesterday that he hoped that estimates of what would have to be drawn down from the Insurance Compensation Fund to cover the costs of insurance firm would be "as bad as it gets".
In a statement this evening, Sean Quinn has described the figures as "truly shocking" and said his biggest regret is not challenging the provisional appointment of the administrators.
