The 2010 collapse of the company of bankrupt former billionaire Seán Quinn cost the taxpayer some €1 billion, with surcharges on all motor and home insurance policies funding its losses.

Counsel for the company Garvan Corkery SC told the court that the application was being made as all outstanding business of the administration had been completed

Quinn Insurance Ltd was put into administration in 2010 and 23 reports have been presented to the High Court over the years by joint administrators