Paul Appleby has raised the possibility of the administrators of Quinn Insurance being able to take an action for reckless trading against the former directors of the company.
The outgoing head of Corporate Enforcement said the administrators could take seek a declaration of personal liability in the High Court.
The bill left by the Quinn Insurance debacle is expected to be up to €1.6 billion. That is being met by a 2% levy on all general insurance policies purchased by consumers.
Last month the outgoing head of Corporate Enforcement Paul Appleby said the administrators could take an action for reckless trading. That could result in a declaration that former directors were personally liable.
The letter was written in response to Fianna Fáil finance spokesman Michael McGrath four days before Mr Appleby retired.
A spokesman for the administrators told RTE News taking such an action was a possibility.
However, he added consideration had to be given to how much money could be recovered.
