Lobby group fights against potential break up of stricken insurer
Quinn Insurance could be broken up, latest reports suggest, as today's bidding deadline nears completion.
Concerned Irish Business, set up earlier this summer to save Quinn Insurance from breaking up, wants nationalised Anglo-Irish Bank to take over the busines because it is most likely to keep Quinn intact.
Anglo-Irish Bank is expected to put togehter a joint bid to buy Quinn Insurance, reports say. Bids handed in to Macquarie Bank must be submitted by 5.30pm today.
Quinn Group owes the bank around 3bn euros after borrowing money from the bank to bet on its share price.
American giant Liberty Mutual is also carefully examining whether to bid.