Ulster Bank will give new complainants up until the end of the year to seek compensation from a scheme that was set up for companies whose businesses were impacted by being put into a controversial restructuring unit during the financial crisis, The Irish Times reported. The lender is currently issuing a follow-up letter to about 2,000 Irish customers who were put into the group’s now-defunct global restructuring group (GRG), informing them that they have until December 31st to file a complaint about their treatment in the division.

A push by Ireland’s richest man to refinance his heavily indebted Caribbean telecoms company has hit a wall after big investors rejected his bid to postpone repaying $3bn in bonds, the Financial Times reported. Denis O’Brien’s effort to buy more time for Digicel to repay the debt comes at a critical time for the company, amid anxiety about a possible default on a $2bn bond due in 2020. Now bondholders have dismissed Mr O’Brien’s proposal to extend by two years this debt and a $1bn 2022 note, saying the terms he has offered were “unacceptable”.

Cardboard box-maker Smurfit Kappa has decided to deconsolidate its troubled Venezuelan operations from its balance sheet, after losing control of the unit to the local government, which will result in the writedown of its €60 million of net assets, The Irish Times reported. The move comes a month after the Caracas government decided to seize Smurfit Kappa Carton de Venezuela (SKCV) for 90 days amid complaints about prices that the company was charging for its products in an alleged abuse of its dominant market position – at a time when the country is grappling with hyperinflation.

The liquidators of the former Anglo Irish Bank claim a US legal action by businessman Paddy McKillen over his “Maple 10” loan is an attempt to frustrate their work. Kieran Wallace and Eamonn Richardson, the liquidators of Irish Bank Resolution Corporation, claim the action taken by Mr McKillen and his partner Tony Leonard in July is an attempt to “end-run IBRC’s properly commenced recovery action in Ireland” through a “poorly disguised” adversary proceeding, The Irish Times reported.

Ten years on from the financial tumult that led to the government of the day having to guarantee the viability of the State’s banks in an historic and unprecedented move, we look at the events of September 2008. Each day this month, we will recall some of the stories that pointed to the dramatic unravelling of the global banking system, The Irish Times reported.

The High Court has granted a temporary injunction preventing an Irish registered aviation company linked to a controversial Russian businessman from going into voluntary liquidation, The Irish Times reported. Mr Justice Michael Quinn made an interim injunction preventing the members of City Leasing DAC, which has registered address in Limerick from holding a meeting of its members, who were due to consider a resolution to wind up the company. The company is beneficially owned by Rashid Mursekayev, who has extensive interests in the aviation industry.

The company behind the McMahon’s Builders Providers chain recorded an 83 per cent increase in profit last year as trading rebounded in tandem with the growth in the Republic’s construction sector. Recently filed accounts for Derevoya Holdings Limited show the Limerick-based business with 14 branches across Ireland posted a pre-tax profit of €7.88 million for 2017, with continued growth experienced so far this year. Additionally, a “tight control” on the company’s cost base resulted in an improvement in the group’s operating profit, which increased 62 per cent to €8.84 million.

A proposed deal for an Irish business family to buy discount retailer Poundworld out of administration in the United Kingdom has collapsed in acrimony, The Irish Times reported. Deloitte, administrators to the chain in the UK, said that the Dublin-based Henderson family had agreed a “deal in principle” earlier this month to buy a tranche of stores in an eleventh hour agreement before they were shuttered.

Smurfit Kappa has defended itself after the Venezuelan government took temporary control of the Irish cardboard boxmaker’s subsidiary in the South American country, which is in economic freefall and recording hyperinflation, The Irish Times reported. Local reports have said that the government seized Smurfit Kappa Carton de Venezuela for three months, amid complaints about prices that the company is charging for packaging products in an alleged abuse of its dominant market position.

Ireland’s banks have intensified a drive to offload soured loans from the financial crisis as regulators increase pressure on the sector to accelerate the repairing of balance sheets still burdened by bad lending practices before the crash, the Financial Times reported. Under the scrutiny of the European Central Bank and domestic authorities, Irish lenders have recently sold non-performing loans with a gross value of about €6.5bn to US investment vehicles owned by Cerberus, Goldman Sachs and Lone Star Funds.