The Quinn family has issued a statement saying it is committed to repaying all the debt it owes.

The statement follows media reports that Anglo Irish Bank has written off €2.3 billion of the €2.8 billion owed by businessman Seán Quinn and his family.

The Quinn family said it had not sought, nor been offered, 'any write-off whatsoever' of any of the debt due. 'This has been the unequivocal and consistent position of the Quinn family from the outset and remains its firm commitment to the Irish taxpayer,' the statement said.

The Quinn family also said that a proposal from Anglo Irish Bank to take over Quinn Insurance would generate substantial returns. 'The family believes that if the proposal is implemented repayment to the Irish taxpayer will be fully achieved,' it said, adding that all of the Quinn businesses were continuing to trade profitably.