herald

Wednesday 18 October 2017

INSURANCE: We will repay €2.8bn Anglo debt -- Quinns

THE Quinn family has reconfirmed that it is committed to repaying the debt it owes.

Businessman Sean Quinn and his family issued a statement following media reports that Anglo Irish Bank has written off €2.3bn of the €2.8bn owed.

The family said that they had not looked for, nor been offered, "any write-off whatsoever" of any of the debt due.

The family owe the bank €2.8bn in total and this is secured on shares in Quinn Group (ROI) and also personal assets, mainly property, owned by the family.

But, they claimed, one of the chief ways this money could be repaid was if Quinn Insurance was sold to Anglo.

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