Troubled Quinn Insurance is due before the High Court later over solvency concerns.

The Financial Regulator is expected to put forward reasons to confirm the appointment of administrators to the company.

The backdrop to the court case is a weekend of intense negotiations between Anglo Irish Bank and the Financial Regulator.

The State owned lender proposed to refinance Quinn Insurance which claims to need a cash injection of around 150 million euro to sort out its solvency requirements.

Provisional administrators were appointed to effectively run Ireland’s second largest insurer two weeks ago on foot of an application by the regulator.

Lawyers for Matthew Elderfield expressed serious concern that a solvency breach at the company could have repercussions for policy holders.

It’s expected he’ll put forward fresh evidence to confirm the appointment of administrators to probe the financial situation and internal controls at Quinn.