DUBLIN, Oct. 6 (Reuters)—Ireland's High Court approved on Thursday the takeover of Quinn Insurance by a joint venture of U.S. insurer Liberty Mutual and state-run Anglo Irish Bank.
Quinn Insurance, which has 275,000 customers, was put into administration last year amid losses linked to Ireland's property collapse.
The High Court's decision means that 738 million euros ($989 million) from the state's Insurance Compensation Fund will be paid to Liberty Mutual. Some 320 million euros will be paid immediately.
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