Talks between Anglo Irish Bank and the Financial Regulator were expected to take place this weekend.
The bank is lobbying for a postponement of Monday's High Court hearing to confirm the appointment of provisional administrators to Quinn Insurance. Anglo has proposed an ambitious plan to re-finance a company whose owners already owe the bank €2.8 billion.
The Quinn Group has admitted that its insurance subsidiary is outside the Regulator's solvency demands but insists it needs only up to €150m to resolve that problem.
Quinn Group chief executive Liam McCaffrey told RTE it would be in everybody's interest if the Financial Regulator delayed taking further action. Mr McCaffrey said the group was in discussions with Anglo Irish Bank on a restructuring, and would talk to the bank or anyone else to resolve the group's problems.
A plan to re-finance the whole Quinn Group by Anglo Irish Bank would see the company released from guarantees which prompted the appointment of provisional administrators to the insurance division.
In a statement the Quinn Group said any plan, such as the one proposed by Anglo Irish, would not increase the amount of debt the group would owe.
If this plan proceeds it would see €150m injected into Quinn Insurance by Anglo Irish. There would be a further €550m paid to bondholders owed money by the Quinn Group.
That would release the company from guarantees which prompted Financial Regulator to seek the appointment of provisional administrators to the insurance company. New bonds would be issued by Anglo and guaranteed by the Government.
Labour party Finance spokesperson Joan Burton said there needed to be full disclosure of liabilities to the state arising from a deal involving Anglo and Quinn.