{"id":2104,"date":"2023-05-11T13:41:16","date_gmt":"2023-05-11T12:41:16","guid":{"rendered":"https:\/\/www.socialdemocrats.ie\/full-details-of-the-cost-of-quinn-insurance-collapse-must-be-published\/"},"modified":"2023-09-15T10:41:29","modified_gmt":"2023-09-15T09:41:29","slug":"full-details-of-the-cost-of-quinn-insurance-collapse-must-be-published","status":"publish","type":"post","link":"https:\/\/www.socialdemocrats.ie\/ga\/full-details-of-the-cost-of-quinn-insurance-collapse-must-be-published\/","title":{"rendered":"Full Details Of the Cost Of Quinn Insurance Collapse Must Be Published"},"content":{"rendered":"<p><em><strong>Even though Quinn Insurance is now legally defunct, its toxic legacy persists<\/strong><\/em><\/p>\n<p>It is unacceptable that details of the \u20ac100 million cost of the administration of Quinn Insurance have not been published, according to Social Democrats Finance Spokesperson R\u00f3is\u00edn Shortall.<\/p>\n<p>\u201cThe collapse of Quinn Insurance cost the State in excess of \u20ac1 billion at a time when vicious cuts were being made to public services. Those who have insurance are still paying the cost of the collapse \u2013 via a 2% levy on their insurance premiums.<\/p>\n<p>\u201cThat levy is likely to remain in place until the end of this decade. Even though Quinn Insurance is now legally defunct, its toxic legacy persists.<\/p>\n<p>\u201cIn that context, it is unacceptable that details of the costs of the administration of Quinn Insurance are not a matter of public record. In fact, it appears that efforts are underway to bury the details of those costs.<\/p>\n<p>\u201cMore than 20 separate reports, which were provided to the High Court outlining the costs of the administration process, are not in the court\u2019s case file. The administrator, Grant Thornton, has declined to publish them.<\/p>\n<p>\u201cIt has been reported that the costs, of winding up Quinn Insurance, are approximately \u20ac100 million \u2013 but the breakdown of that figure is unknown. This is not good enough.<\/p>\n<p>\u201cThis is a matter that falls under the remits of Finance Minister Michael McGrath and Enterprise Minster Simon Coveney. Both Ministers should confirm whether their respective departments have had sight of the reports or if they are in their possession. If they are, they should be immediately released.<\/p>\n<p>\u201cIf the reports have not been provided to the Ministers or their departments, they should direct Grant Thornton to release them.<\/p>\n<p>\u201cThe Irish public paid a heavy price for the demise of Quinn Insurance. They are entitled to know the full cost of the administration \u2013 and where those monies were directed.\u201d<\/p>\n<p>11 May, 2023<\/p>\n<p>Ends<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Even though Quinn Insurance is now legally defunct, its toxic legacy persists It is unacceptable that details of the \u20ac100 million cost of the administration of Quinn Insurance have not been published, according to Social Democrats Finance Spokesperson R\u00f3is\u00edn Shortall. \u201cThe collapse of Quinn Insurance cost the State in excess of \u20ac1 billion at a [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":2063,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[88,7,264],"tags":[],"class_list":["post-2104","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","category-press-release","category-roisin-shortall"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - 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