Ireland

The pained debate over a $112 billion international rescue package for Ireland will come to a crunch on Tuesday when a politically weakened Prime Minister Brian Cowen goes to Parliament seeking approval for the harshest austerity program of any governmen ...

Daily Headline - global.abi.org - 12/07/2010 - 10:21 - 0 comments

Former Anglo Irish Bank Chief Executive David Drumm will have to testify about his assets and conduct running the fallen Irish financial giant, under a deal his attorneys struck in bankruptcy court in Boston on Thursday, Reuters reported. The testimony c ...

Daily Headline - global.abi.org - 12/03/2010 - 10:20 - 0 comments

Former financial regulator Pat Neary has told one of the investigations into Anglo Irish Bank that it was not surprising banks would carry out transactions to put “a gloss” on their published accounts. Mr Neary also told investigators he was never shown ...

Daily Headline - global.abi.org - 12/02/2010 - 10:08 - 0 comments

The National Asset Management Agency (Nama) has accused developers of being in “denial” about the crisis in construction and rejected criticisms that it had compounded problems in the banking and property markets by applying steep discounts to loans tran ...

Daily Headline - global.abi.org - 12/01/2010 - 10:37 - 0 comments

European Central Bank officials tried to force Ireland to seek a bailout earlier this month and European officials are now trying to do the same to Portugal, Irish Justice Minister Dermot Ahern said. “Clearly there were people from outside this country w ...

Daily Headline - global.abi.org - 11/30/2010 - 10:29 - 0 comments

A revised restructuring plan will see Anglo Irish Bank rebranded and changed into an asset recovery bank, chairman Alan Dukes confirmed today, the Irish Times reported. Mr Dukes said the original plan to split Anglo into a funding bank and recovery a ...

Daily Headline - global.abi.org - 11/30/2010 - 10:27 - 0 comments

A second bondholder group has claimed to hold a stake sufficient to block part of Anglo Irish Bank’s efforts to bolster its capital – raising the prospect of the bank’s restructuring being delayed. The bank’s battle with its bondholders is being closely ...

Daily Headline - global.abi.org - 11/29/2010 - 08:28 - 0 comments

Two banks have appointed receivers to insolvent building company, Pierse Contracting, to protect their secured debts, the Irish Times reported. Simon Coyle of Mazars is investigating Pierse group’s trading activities on the instruction of the High Co ...

Daily Headline - global.abi.org - 11/29/2010 - 08:26 - 0 comments

Fighting to prevent an accelerating debt crisis from engulfing Portugal and Spain, Europe’s finance ministers approved an 85 billion euro bailout package for Ireland, while also agreeing for the first time to hold private investors accountable for losses ...

Daily Headline - global.abi.org - 11/29/2010 - 08:24 - 0 comments

Irish Nationwide has succeeded in its legal bid to dismiss a lawsuit by two subordinated bondholders in the High Court in London as a judge said he could not stop the Government’s plan to share the €5.4 billion cost of the building society, The Irish T ...

Daily Headline - global.abi.org - 11/24/2010 - 09:37 - 0 comments