Ireland

Ireland's central bank proposed on Thursday stricter requirements for how financial services firms deal with customers as part of efforts to beef up consumer protection in the aftermath of a disastrous property crash, Reuters reported. Years of reck ...

Daily Headline - global.abi.org - 10/29/2010 - 09:05 - 0 comments

The future of DVD rental chain Chartbusters hangs in the balance just 18 months after the High Court approved a rescue plan for the troubled company, The Irish Times reported. The company is understood to be preparing to appoint a liquidator to wind ...

Daily Headline - global.abi.org - 10/29/2010 - 09:04 - 0 comments

Ireland's embattled Prime Minister Brian Cowen admitted Wednesday that accelerating €15 billion ($20.78 billion) in planned budget cuts will damp economic growth, but warned the country runs the risk of "not being able to borrow at all" if ...

Daily Headline - global.abi.org - 10/28/2010 - 08:18 - 0 comments

When Anglo Irish Bank announced a long-awaited exchange offer for its junior debt last week, there was shock in the market at the harshness of the terms. There were also howls of protest privately from the debtholders themselves to the advisers of Anglo ...

Daily Headline - global.abi.org - 10/27/2010 - 08:57 - 0 comments

Anglo Irish Bank’s former chief executive David Drumm has until Friday next to file a statement of his assets and liabilities in his bankruptcy proceedings in the US, the Commercial Court in Dublin heard yesterday, The Irish Times reported. Mr Justic ...

Daily Headline - global.abi.org - 10/27/2010 - 08:55 - 0 comments

Anglo Irish Bank’s offer to swap its subordinated debt for new bonds is “tantamount to a default” because of the penalties inflicted on investors who refuse to take part, according to the Canadian credit ratings agency, DBRS, The Irish Times reported ...

Daily Headline - global.abi.org - 10/26/2010 - 08:23 - 0 comments

Anglo Irish Bank announced Thursday it will make its junior bondholders absorb heavy losses on their euro3.5 billion ($4.9 billion) investments - the first loan defaults in Ireland since the nation's banking crisis began two years ago, the Associate ...

Daily Headline - global.abi.org - 10/22/2010 - 08:18 - 0 comments

The Republic faces an interest bill of about €7 billion on its national debt next year, a senior Department of Finance official confirmed yesterday, The Irish Times reported. Speaking to the Dáil’s Committee on Public Accounts yesterday, the departme ...

Daily Headline - global.abi.org - 10/22/2010 - 08:15 - 0 comments

Creditors of Aer Arann are set to receive €2.2 million from the airline’s new investors in settlement for their debts, The Irish Times reported. This is part of a scheme of arrangement that has been put together by Aer Arann’s examiner, Michael McAte ...

Daily Headline - global.abi.org - 10/20/2010 - 07:57 - 0 comments

Anglo Irish Bank has secured a temporary court injunction restraining the wife of its former chief executive David Drumm from transferring the couple’s former home in Co Dublin from her sole ownership back to the joint ownership of her husband and hersel ...

Daily Headline - global.abi.org - 10/20/2010 - 07:56 - 0 comments