Regulator received a file on Quinn’s UK activities yesterday
Irish Financial Regulator Matthew Elderfield, will not lift the ban on Quinn trading in the UK today after receiving a file on the company’s operation here yesterday, the Irish Examiner reports.
Elderfield will seek to have the insurance group placed under full-time administration due to the unresolved "solvency issues" when the case comes to the High Court on Monday.
Taoiseach (prime minister) Brian Cowen may authorise a taxpayer bailout of Quinn Insurance. He said that protecting almost 6,000 jobs in the company will be the main concern of government.