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Quinn Group fees disclosed

Published 04/10/2011

Professional advisers enjoyed fees of well over €30m (£26m) for work on the Quinn Group's finances before Anglo Irish Bank and other lenders seized control of the conglomerate in April.

The sizable fees are detailed in internal Quinn Group documents, which also reveal that former chief executive Liam McCaffrey told colleagues the costs were a “runaway train” and payments should be halted until the group's finances improved.

Belfast Telegraph

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