http://www.irishexaminer.com/business/legal-case-may-decide-setanta-insurance-payout-321725.html
The outcome of an imminent legal case may determine the level of compensation customers of the former Setanta Insurance will be paid — with costs potentially climbing to multiples of the original figure.The dispute centres on whether or not the Motor Insurers’ Bureau of Ireland (MIBI) is liable for claims of the Maltese-registered insurer, which went into liquidation last April. A challenge to the attorney general’s advice that MIBI would not foot part of the potential €90m bill has been thrown into doubt after the Law Society expressed concern. The matter is now set to be thrashed out in the High Court. The liquidator of Setanta Insurance, Paul Mercieca, told the Oireachtas finance committee yesterday he expects the sale of the insurer’s assets to cover just 30% of the cost...
Oireachtas Finance Committee to get update on Setanta Insurance liquidation
http://www.breakingnews.ie/business/oireachtas-finance-committee-to-get-update-on-setanta-insurance-liquidation-669869.html
The Oireachtas Finance Committee will receive an update this afternoon on the progress being made on the liquidation of Setanta Insurance.
Around 75,000 Irish consumers were left uninsured when Setanta's Maltese parent company went into liquidation around a year ago.
The Maltese liquidator, officials from the Department of Finance and the accountant to the High Court will appear before the committee....
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