Ireland

Results for Ireland

Central Bank Secures Order To Wind Up Cork Credit Union

The Central Bank has secured High Court orders winding up a credit union in Cork with 3,500 members, the Irish Times reported. The President of the High Court, Mr Justice Nicholas Kearns, today appointed insolvency practitioners Jim Hamilton and Davi ...

Daily Headline - global.abi.org - 07/23/2014 - 21:27 - 0 comments

Dail 'Will Rush To Fix Defect In Insolvency Legislation'

A defect in the personal insolvency legislation that gives banks extra powers to vote down debt deals will be fixed, officials have pledged. The Department of Justice insisted the change to the personal insolvency legislation will be given priority when ...

Daily Headline - global.abi.org - 07/22/2014 - 21:46 - 0 comments

New Law To Protect Borrowers Whose Loans Were Sold

The Government is planning new legislation to protect borrowers whose loans were sold to unregulated financial entities in the wake of the crash, the Irish Times reported. Up to 10,000 mortgages are now controlled by institutions which are under no o ...

Daily Headline - global.abi.org - 07/21/2014 - 18:48 - 0 comments

Central Bank Warns Of Mortgage Arrears Timebomb

The Central Bank has warned of a potential mortgage arrears time bomb as the high number of interest-only loans taken out during the boom revert to full-repayment arrangements, the Irish Times reported. While interest-only arrangements have been wide ...

Daily Headline - global.abi.org - 07/16/2014 - 22:04 - 0 comments

Insolvency Service Not Doing Enough To Help Those In Debt

When the Insolvency Service of Ireland (ISI) came into being over a year ago, the then minister for justice, Alan Shatter, said it was the “light at the end of the tunnel” for tens of thousands of distressed borrowers who were no longer able to service t ...

Daily Headline - global.abi.org - 07/15/2014 - 21:30 - 0 comments

Just Over 100 Insolvency Deals Done In Three Months

loans - saw anywhere between 0 and 61 per cent of the residual debt being written off. The average ...

Daily Headline - global.abi.org - 07/14/2014 - 19:53 - 0 comments

ESM Not For Legacy Debt, Say Bundestag Figures

Senior Bundestag figures in Berlin have said the ESM bailout fund’s new power to recapitalise banks – in the future and retroactively – is a political “fig leaf” that will never benefit Ireland, the Irish Times reported. Their resistance comes a day ...

Daily Headline - global.abi.org - 07/10/2014 - 23:03 - 0 comments

Liquidation Of Setanta Insurance Could ‘Take Some Time’

The liquidation of Setanta Insurance, which collapsed in April of this year, may “take some time”, director of consumer protection at the Central Bank Bernard Sheridan said today, the Irish Times reported. Speaking before the Joint Oireachtas Committ ...

Daily Headline - global.abi.org - 07/09/2014 - 22:31 - 0 comments

Insolvency Regime Needs Overhaul, Says Committee

The Government needs to overhaul the new insolvency regime and amend the mortgage-to-rent scheme to help resolve the mortgage arrears crisis in Ireland, according to the Oireachtas finance committee, the Irish Times reported. These are two of the mai ...

Daily Headline - global.abi.org - 07/09/2014 - 00:18 - 0 comments

Permanent To Ensure Springboard Buyer Abides By Code

Permanent TSB will ensure that the buyer of its Springboard sub-prime mortgage portfolio will sign up to the terms of the Central Bank of Ireland’s code of conduct on mortgage arrears (CCMA), the minister for finance Michael Noonan has said, the Irish ...

Daily Headline - global.abi.org - 07/06/2014 - 21:59 - 0 comments

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