QUINN EMPLOYEES are to meet this morning to consider whether to hold a fourth rally to protest against the decision of the Financial Regulator to appoint a provisional administrator to Quinn Insurance.
Yesterday, the group announced that it was to hold a rally at noon tomorrow outside the Financial Regulator’s office in Dublin, to protest at the regulator’s decision to prohibit the company from taking on business in the UK.
However, a spokeswoman for the group, said that, following internal developments, employees would be making a final decision this morning on whether a rally would be “the best way to proceed”.
If it goes ahead tomorrow, the protest will coincide with the deadline for Sean Quinn to finalise his case for fighting administration.
Yesterday workers claimed that Quinn Insurance is losing up to €1.5 million a day over the ban on writing new business in the UK.
They said that a business plan for the UK operations was submitted to the regulator by the administrators last Thursday following meetings between cross-Border, cross-party politicians, the administrators and the regulator.
Quinn Insurance was put into provisional administration at the instigation of the Financial Regulator over two weeks ago due to concerns about the company’s solvency ratio.
On Monday, an application by the Financial Regulator to have the appointment of two joint administrators to the Quinn Insurance group confirmed by the High Court was adjourned for a week
