A number of developer Seamus Ross’s Menolly Homes group companies look set to be placed in liquidation at a creditors’ meetings today, the Irish Times reported. Mr Ross was one of the most active housebuilders in Dublin, through the Menolly Homes group, over the last decade. Last December he became one of the well-known developers to exit Nama when Cardinal Capital refinanced the final part of his group’s debts.

The cost of insuring Deutsche Bank debt against default leapt on Thursday, while costs for other European banks also climbed as their shares plunged to multi-year lows, Reuters reported. Credit default swaps (CDS), used to insure debt, now imply a 24.5 percent probability that Germany's biggest bank will default on its subordinated, or junior, debt, according to data provider Markit, while on senior debt the probability has risen to 17 percent.

Ukraine has agreed a restructuring deal with Russia's Sberbank on $367.4 million of state-guaranteed debt, the government said in an online statement on Thursday, the Daily Mail reported on a Reuters story. The deal included a 25 percent writedown and maturity extensions to Sept. 1, 2019, it said. The debt of state-owned firms, Ukravtodor and Yuzhnoye State Design Office, was included in the external loans that Ukraine has sought to restructure under a $40 billion bailout programme coordinated by the International Monetary Fund.

Since the financial crisis, it has been gospel for many investors that some combination of actions by central banks — bond buying, bold promises or flirtations with negative interest rates — would be enough to keep the global economy out of recession, the International New York Times DealBook blog reported.

Irish household debt continued to fall in the third quarter of 2015, reaching its lowest level since the early months of 2006, new data from the Central Bank has revealed. The figures showed debt declined to €151.2 billion, or €32,614 per capita, for the three month period, down €2.1 billion or 1.3 per cent overall from the preceding quarter, the Irish Times reported. This was partly due to continued repayments, write-offs and reclassifications, with repayments at their lowest level since the first quarter of 2010.

Spanish Abengoa has asked its creditors for a loan of up to 750 million euros ($843 million) to keep it afloat while its lenders discuss a financial plan to avoid it becoming Spain's biggest bankruptcy, a source close to the talks said. "Abengoa has asked for 650 million to 750 million euros in additional liquidity," the source said on Wednesday, adding that this was on top of around 160 million euros Abengoa is requesting from bondholders.

The head of the International Monetary Fund warned that the lender’s bailout of Ukraine could be in jeopardy without “a substantial new effort” by the country to accelerate overhauls to improve governance and fight corruption, The Wall Street Journal reported. IMF Managing Director Christine Lagarde’s remarks on Wednesday underscore growing concerns in the West that Ukraine isn’t moving fast enough to make its recession-hit economy more competitive and root out graft.

A legal dispute has arisen between Danske Bank and the liquidator of Bloxham stockbrokers over the remaining assets of the firm, which include €4 million from the sale of its client book to rival firm Davy, the Irish Times reported. Bloxham was wound up in 2012 following the discovery of financial irregulatories. Danske claims to have a floating charge on the firm’s assets through some €34 million in loans lent to former partners and the brokerage itself by National Irish Bank, which was later acquired by Danske.

Greece’s central bank chief called on Wednesday for a prompt conclusion to the country’s first bailout review, or put at risk a projected economic recovery for the second half of 2016, The Wall Street Journal reported. “The projection for an economic recovery in the second half of the year is at the moment still subject to risks,” Bank of Greece’s Governor Yannis Stournaras told lawmakers during a parliamentary committee meeting. He said that 2016 can be the “beginning of a new path” for the country’s economy.

Specialist PV manufacturing equipment supplier Singulus Technologies has highlighted the essential support it needs from shareholders and bondholders to avert liquidity issues that would force the company into insolvency, PVTech reported. The company is planning to hold several bondholder meetings and an Extraordinary General Meeting in an attempt to gain support for balance sheet restructuring that will allow further corporate restructuring. Read more.