AIB has revealed that 2019 pre-tax profits fell by 60% to €499m. Though more or less €10m a week, the figure is down from 2018’s €20m-plus a week. Though all banks pay an annual levy the fact that they can, like all banks, write off losses against tax, meaning it will pay no corporation tax on profits for years to come, must soften the blow.
A couple have lost their appeals against a decision that Irish Bank Resolution Corporation is entitled to an order for possession of their family home arising from failure to repay a loan advanced in the 1990s.
The High Court has ruled that developer Garrett Kelleher is not entitled to certain categories of discovery in his action against a Nama company over the alleged leaking and dissemination of his and his business's confidential financial information to third parties.
Former La Stampa restaurant owner, Louis Murray has instructed his lawyer to apologise for and withdraw comments about a bank-appointed receiver, including calling him "a thug" the High Court has heard.
The owner of two prestigious Georgian office buildings in Dublin's Stephen's Green faces receivership of the properties after he failed to pursue High Court injunction proceedings blocking efforts to prevent the takeover due to a €13m debt.
A settlement could be reached next week of the marathon case by Sean Quinn’s five adult children challenging the validity of securities provided by them for hundreds of millions of euro in loans advanced by Anglo Irish Bank to Quinn companies.
Two former senior executives with the Quinn group are "very reluctant" witnesses in the action by Sean Quinn's adult children disputing any liability under guarantees for loans of more than €415m, the High Court has been told.
Sean Quinn’s family used the Quinn group as their “personal bank” from which they extracted some €1.95bn to fund their personal lifestyles, property acquisition and significant losses, the High Court has been told.
The response to the announcement that the Government is expected to strengthen and rename the agency entrusted with overseeing company law and investigating white-collar crime must be mixed; once bitten, twice shy, as it were.
The former head of group finance at Anglo Irish Bank said he was not aware that €7.2bn transactions with Irish Life and Permanent were “a straight exchange of cash with no underlying security” until after they had taken place.