Quinn bidders fear outstanding claims, according to reports
The Irish Independent has reported that several of the five bidders for Quinn are reluctant to buy the whole company fearing the outstanding claims and liabilities caused by previous management.
The paper stated that some are looking at the existing customer base while seeking State protection should claims exceed current forecasts.
The report added that Quinn, which is being sold by Macquerie Bank after being hired by Grant Thornton, could be broken up with one portion sold and the outstanding claims put into a separate vehicle.
The Irish Independent understands that Anglo Irish Bank has bid for the whole company.
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