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Quinn sale gets green light in lenders' vote

THE imminent sales of Quinn Insurance and the Quinn Group have passed their final hurdles, with a vote of lenders clearing the way for both deals to go through within days.

The lenders have signed up to a deal that will see an extra €250m of their loans switch from the Quinn Group to a 'non-core entity', where they have a slimmer chance of being repaid.

The vote was carried by bondholders with more than 75pc of the loans, clearing the way for the Quinn Group's ownership to transfer to Anglo Irish Bank (75pc) from Sean Quinn (above) and his family and lenders (25pc) imminently.


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