Ireland

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David Drumm Asks For More Time To Outline Reasons For Appeal

Former Anglo Irish Bank chief executive David Drumm has asked a US court for more time to outline his reasons why it should overturn a bankruptcy judge’s ruling blocking a write-off of his debts, the Irish Times reported. Mr Drumm lodged papers in th ...

Daily Headline - global.abi.org - 01/29/2015 - 22:00 - 0 comments

Mortgage Curbs Could Affect House Building, Banking Body Warns

The main representative body for Irish banks has welcomed the Central Bank’s decision to ease its proposals on loan-to-value (LTV) mortgage limits for first-time buyers but cautioned it could have an impact on house building, the Irish Times reported ...

Daily Headline - global.abi.org - 01/28/2015 - 21:36 - 0 comments

Kenny To Meet Insolvency Experts Over Fears Of Mass Repossessions

Fears that thousands of homeowners are facing repossession ahead of an election has prompted Taoiseach Enda Kenny to call in the head of the State Insolvency Service for a meeting on Wednesday. There is concern in Government that few debt deals between b ...

Daily Headline - global.abi.org - 01/25/2015 - 21:35 - 0 comments

Ireland Records Largest Drop In Debt In European Union

Ireland has the fourth highest government debt to GDP ratio in the European Union, despite recording the largest drop in debt from the third quarter of 2013 to the end of the same quarter last year, the Irish Times reported. New figures published by ...

Daily Headline - global.abi.org - 01/22/2015 - 22:27 - 0 comments

Nama Makes €293 Million Loss On Sale Of Debtor Loans

The National Asset Management Agency made a loss of €292.9 million on the disposal of various debtor loans in the first nine months of last year, according to its latest set of unaudited accounts, the Irish Times reported. It is understood that this ...

Daily Headline - global.abi.org - 01/21/2015 - 22:35 - 0 comments

Mortgage Demand Increases Ahead Of New Lending Curbs

Demand for mortgage loans increased in the final quarter of last year ahead of expected new stricter lending rules, the Irish Times reported. According to the Central Bank bank’s latest quarterly lending survey, the potential introduction of stricter ...

Daily Headline - global.abi.org - 01/20/2015 - 22:25 - 0 comments

Ardale Acquires Weslin Construction For €500,000

Irish development and investment group Ardale Property has completed its acquisition of Weslin Construction, which was in examinership. The €500,000 deal will save 15 jobs and position Ardale across a number of sectors, the Irish Times reported. Alan ...

Daily Headline - global.abi.org - 01/20/2015 - 22:26 - 0 comments

Kenmare In Talks To Finalise Debt Restructuring Deal

Kenmare Resources, the Irish mineral sands miner hit by the fall in commodity prices, is seeking to finalise a deal with lenders to restructure its debt load by the end of the month. Dublin-based Kenmare has struggled with the size of its debt and a succ ...

Daily Headline - global.abi.org - 01/19/2015 - 23:42 - 0 comments

Luxembourg Investor Sues Galway Firm Over Alleged Effective Cancellation Of €2 Million Loan Note

A Galway-based company is being sued by a Luxembourg investor over the alleged effective cancellation of a €2 million loan note when it was converted into shares before the firm was sold off, the Irish Times reported. In Commercial Court proceedings, ...

Daily Headline - global.abi.org - 01/19/2015 - 23:44 - 0 comments

Liquidator Expects ‘Significant Shortfall’ In Setanta Funds

The liquidator of insolvent Setanta Insurance expects there could be a “significant shortfall” between available funds and the total value of claims, The Irish Times reported. Paul Mercieca of Deloitte, who was appointed as liquidator to the Dublin-b ...

Daily Headline - global.abi.org - 01/16/2015 - 00:32 - 0 comments

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