McCann FitzGerald advises on the sale of Quinn Insurance Limited (under administration)
11 November 2011
McCann FitzGerald, acting for the joint administrators of Quinn Insurance Limited ("QIL"), advised on the sale of the general insurance business to a joint venture entity (owned 51% by US insurance firm Liberty Mutual and 49% by IBRC, formerly Anglo Irish Bank, and QIL). The deal was signed in April 2011 and completion was subject to satisfaction of a number of regulatory and other conditions. This was a unique case of national importance and international significance and the deal has been described by the joint administrators “as one of the most complex corporate restructurings they worked on”.