Liberty bids to control IBRC's 50% stake in former Quinn company

The US insurer Liberty Mutual is mounting a bid to take control of the 50 per cent of the former Quinn Insurance controlled by the Irish Bank Resolution Corporation (IBRC).

Ian Kehoe - avatar

Ian Kehoe

13th April, 2013
Sean Quinn: business 'unsustainable.' Photo: courtpix

The US insurer Liberty Mutual is mounting a bid to take control of the 50 per cent of the former Quinn Insurance controlled by the Irish Bank Resolution Corporation (IBRC).

Liberty currently controls the insurer through a 50/50 joint venture with the former Anglo Irish Bank, but it is now set to take outright control as part of the liquidation of the bank.

The company has informed the bank that it intends to enact a clause in...

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