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 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.
While the new Corporate Enforcement Authority — to replace the Office of the Director of Corporate Enforcement (ODCE) — with more powers is to be welcomed, it is still not good enough for the attorney general to simply rule or advise that the report into the role of the ODCE in the matter of the Sean FitzPatrick IBRC trial should not be published due to “potential difficulties with the Companies Act and fears the file could reveal how the ODCE operates”.
A correct application by the Oireachtas of its own rules concerning what is said in parliament would involve chilling “inappropriate” speech, a lawyer for businessman Denis O’Brien has told the Supreme Court.
Complaints by Sean Quinn Junior and his wife Karen Woods about a recent failure to pay some of their €100,000 annual living expenses should be seen in the context of a “scheme of misappropriation on a grand scale”, the High Court has been told.
A dispute over the entitlement of the wife of former Anglo Irish Bank chairman Sean Fitzpatrick to an interest in "substantial" assets held in his sole name will be heard at the High Court next year.
NOW that the initial response to last Monday’s teen-concert massacre in Manchester moves from the “what” and “who” phase to the “why” phase the question that has confounded Europe for decades returns to centre stage: “Why do young men like Salman Abedi — and Paris killers Chérif Kouachi, Saïd Kouachi and Amedy Coulibaly — turn so violently against the society that offers them refuge?”