Goldman Sachs is buying discounted Quinn Group debt on behalf of clients while simultaneously advising the Irish government on Anglo Irish Bank's Quinn dealings.
According to the Irish Independent, the investment bank has been retained by the national treasury management agency to run the rule over various plans submitted by Anglo.
The newspaper reported: “This role includes examining Anglo's proposal to buy embattled Quinn Insurance to improve the bank's chances of recouping a €2.7bn debt owed by the wider Quinn Group and family, sources confirmed.
“Separately, Goldman Sachs traders have also been actively buying up Quinn Group bonds on behalf of its clients.”
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