Ireland

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Bus Eireann Chief Says Threat Of Insolvency Is Very Real

The threat of the State-owned Bus Éireann becoming insolvent within the next 18 months is very real, its new acting chief executive has told staff, the Irish Times reported. Ray Hernan also said it was clear the loss-making company had to change its ...

Daily Headline - global.abi.org - 01/11/2017 - 22:42 - 0 comments

Liquidator Appointed To Millennium Park Developers

A liquidator has been appointed to a property development company that was involved in one of the biggest pre-crash land deals in the State, according to documents filed with the Companies Registration Office last month, the Irish Times reported. Pat ...

Daily Headline - global.abi.org - 01/08/2017 - 22:31 - 0 comments

Revenue Battle Against Tax Evasion Yields €555 Million For Exchequer

Efforts by the Revenue Commissioners to ensure compliance with tax law yielded €555 million for the exchequer in 2016, a year that saw 17 criminal convictions for serious tax and duty offences, the Irish Times reported. The Revenue, which collected a ...

Daily Headline - global.abi.org - 01/05/2017 - 21:14 - 0 comments

AIB Steps Up High Court Pursuit Of Unsecured Borrowers

AIB has dramatically stepped up its pursuit of defaulting borrowers and is now by far the most litigious Irish lender when it comes to chasing unpaid debts through the High Court, according to an Irish Times analysis of court records, the Irish Times ...

Daily Headline - global.abi.org - 01/02/2017 - 21:14 - 0 comments

Digicel Hires Consultants To Help In Massive Cost-Cutting Plan

Denis O’Brien’s Digicel Group has started an unprecedented cost-cutting plan and hired financial consultants McKinsey and Goetzpartners to help cut its massive debt burden as the mobile phone group grapples with declining earnings, the Irish Times re ...

Daily Headline - global.abi.org - 12/18/2016 - 16:33 - 0 comments

State To Get €280 Million From IBRC Liquidators

The State is to receive a €280 million payout from the IBRC liquidators in the next fortnight, as they make their first payout to the unsecured creditors of the former Anglo Irish Bank and Irish Nationwide, the Irish Times reported. The joint special ...

Daily Headline - global.abi.org - 12/13/2016 - 21:01 - 0 comments

Yelp Takes €65.4 Million Writedown On Irish Assets After Wind-Down

Online review platform Yelp has taken a €65.4 million writedown on its Irish assets following the company’s recent decision to shut most of its international operations, the Irish Times reported. The company, whose main Irish unit recorded turnover o ...

Daily Headline - global.abi.org - 12/13/2016 - 21:03 - 0 comments

Promontoria Seeks €18 Million Judgment Over Anglo Loans

A financial fund is seeking judgment of €18 million against two businessmen over loans from the former Anglo Irish Bank provided for purposes including a housing development in Dublin, the Irish Times reported. Promontoria (Arrow) Ltd, which took ove ...

Daily Headline - global.abi.org - 12/12/2016 - 20:47 - 0 comments

Bus Éireann’s Finances Are In A ‘Perilous State’, Chief Warns

The chief executive of Bus Éireann has told staff that the company’s finances are in a “perilous state”and that its losses must be addressed, the Irish Times reported. In a letter to the company’s 2,600 employees, Martin Nolan urged staff representat ...

Daily Headline - global.abi.org - 12/08/2016 - 22:14 - 0 comments

Credit Unions Chief ‘Confident’ No Repeat Of Rush Debacle

The chief executive of the Irish League of Credit Unions, Ed Farrell, is “quietly confident” that there won’t be a repeat of events at Rush Credit Union (RCU), which was placed into liquidation recently following the emergence of a €4.7 million hole in i ...

Daily Headline - global.abi.org - 12/07/2016 - 20:00 - 0 comments

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