Ireland

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Toland Warns DAA Workers Could Lose €200 Million On Pensions

Dublin Airport Authority (DAA) chief, Kevin Toland, warned trade unionists yesterday that workers at the State company could lose close to €200 million in pension benefits if they do not agree to proposals designed to wind up the insolvent aviation staff ...

Daily Headline - global.abi.org - 09/21/2014 - 19:26 - 0 comments

Banks Lose 70% Of Mortgage Debt In Bankruptcy Say Insolvency Firm

An insolvency company has revealed details of its clients who have gone bankrupt under rules introduced a year ago, RTÉ News reported. The figures show that banks which lent mortgages to these clients have had to write off 68% of the outstanding debt. I ...

Daily Headline - global.abi.org - 09/17/2014 - 22:13 - 0 comments

Taxpayers May End Up Paying For Collapse Of Setanta Insurance

Taxpayers may end up footing the bill for third-party claims related to the collapse of Setanta Insurance, the Irish Times reported. The Maltese-registered insurer went into liquidation in April leaving 75,000 motor policyholders in Ireland with no c ...

Daily Headline - global.abi.org - 09/17/2014 - 22:20 - 0 comments

Irish Banks May Be Restricted From Offloading Riskier Assets

The prospect that Irish banks could offload some of their problematic mortgage debts as part of the European Central Bank’s asset-backed security-purchase programme receded this weekend as ECB vice- president Vitor Constancio said the bank would need sta ...

Daily Headline - global.abi.org - 09/15/2014 - 21:39 - 0 comments

IBRC Seizes Property Company Behind Seven Supervalu Stores

Receivers have taken control of the HCJV, a property company linked to the Caulfield McCarthy retail group, one of the State’s biggest SuperValu franchisees with stores and shopping centres in eight locations, the Irish Times reported. Irish Bank Res ...

Daily Headline - global.abi.org - 09/14/2014 - 21:15 - 0 comments

Dunne Bankruptcy Hearing To Be Heard In December

An application by property developer Sean Dunne to end his US bankruptcy case will be heard by a Connecticut judge at trial in December, the Irish Times reported. Judge Alan Shiff set the trial date for December 3rd in a court filing yesterday. He ha ...

Daily Headline - global.abi.org - 09/11/2014 - 21:43 - 0 comments

Ireland Wins Backing Of Germany For Early Repayment Of IMF Loans

Ireland has won German backing to refinance part of its bailout loans, according to Minister for Public Expenditure Brendan Howlin, the Irish Times reported. Speaking to reporters in Paris, Mr Howlin said the German parliament had set a date to ratif ...

Daily Headline - global.abi.org - 09/11/2014 - 21:44 - 0 comments

Call To Overhaul ‘Failed’ Insolvency Service

A mortgage expert has said the Insolvency Service of Ireland has "failed" and called for an overhaul of how insolvency is managed, the Irish Examiner reported. ISI was set up in March 2013 under the Personal Insolvency Act to provide debt r ...

Daily Headline - global.abi.org - 09/08/2014 - 23:05 - 0 comments

Ireland In Talks To Refinance IMF Loans

The Irish government has begun an intensive diplomatic push to persuade the European Commission and the European Central Bank to allow it to make an early repayment of a portion of its €67bn bailout debt to the International Monetary Fund, the Financia ...

Daily Headline - global.abi.org - 09/08/2014 - 23:06 - 0 comments

Noonan Says ESM Deal on Bank Debt No Longer as Attractive

Irish Finance Minister Michael Noonan said his government’s campaign to sell stakes in Irish banks to the euro-area bailout fund is less of a priority now that the holdings are worth more, Bloomberg News reported. A deal with the European Stability Mecha ...

Daily Headline - global.abi.org - 09/03/2014 - 22:19 - 0 comments

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