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- Property prices fall 16.4%Thu, May 24, 2012The decline in the residential property market continued over the year to the end of April, new data from the Central Statistics Office showed today.
- Beades gets time to reply to bank claimThu, May 24, 2012BANK OF Scotland is pursuing developer Jerry Beades in the High Court for the repayment of a €9.7 million personal loan given to him to develop an apartment complex in Dublin.
- Court hears of McKillen 'antipathy' to BarclaysThu, May 24, 2012PROPERTY DEVELOPER Paddy McKillen has displayed “an unjustified antipathy” to the billionaire Barclay brothers and has not been a truthful witness, the High Court in London has been told.
- Blair was against transfer to Nama of London hotel debtsWed, May 23, 2012FORMER BRITISH prime minister Tony Blair believed in 2010 that the debts of a luxury London hotel group at the centre of a long-running High Court case in London should not have been taken over by the National Asset Management Agency.
- Judge challenges McKillen stance on £660m debt saleWed, May 23, 2012BONUS PAYMENTS from Qatari investors interested in buying three luxury London hotels would have been “far more attractive” to financier Derek Quinlan than promises to forgive his debts by the billionaire Barclay brothers, a judge in London said yesterday.
- Inside Track Q&A
Wed, May 23, 2012Martin McCloskey, founder and chief executive of Western Building Systems, Coalisland, Co Tyrone
- Knock-down prices for Dundalk sites
Wed, May 23, 2012TWO ADJOINING sites in Dundalk town centre bought during the boom by local developer McEnaney Construction are now for sale at knock-down prices after the company was put into receivership with debts of almost €75 million. - Central Bank to push lenders on escalating mortgage arrearsTue, May 22, 2012LENDERS ARE being pressed to identify borrowers who are unlikely to be able to repay mortgages and to push for agreed sales of properties and the repayment of any shortfall under plans being devised for the Central Bank.
- Barclays destroyed crucial evidence, court toldTue, May 22, 2012THE BILLIONAIRE Barclay brothers destroyed evidence of text messages central to the High Court challenge taken by Belfast property developer Paddy McKillen, it was alleged yesterday.
- Quinlan did not pay loan interest, court toldTue, May 22, 2012FINANCIER DEREK Quinlan should have declared two years ago that he had failed to pay interest on loans due to Bank of Scotland Ireland (BoSI), which would have triggered the sale of his share of a London luxury hotel group, it was alleged yesterday.
- Order against Dunne
Tue, May 22, 2012DEVELOPER SEÁN Dunne has consented to the entry of €164.5 million summary judgment orders against him at the Commercial Court over his personal guarantees of loans related to the purchase of Jurys Hotel. - Cairn to advise on Treasury loansTue, May 22, 2012Property debt specialist Cairn Capital has been appointed financial adviser to Opera Finance, a securitised vehicle comprising some €375 million in loans originally used by the Treasury Holdings-controlled Real Estate Opportunities to purchase a portfolio of commercial properties.
- Spectacular TV HQ completed
Tue, May 22, 2012 ASIA BRIEFING: CONSTRUCTION work on the multimillion euro headquarters of China’s state broadcaster Chinese Central Television (CCTV) has finally been completed, and engineers and architects had a final walk through the striking building last week before handing over to its owners. - Dunne consents to €164m judgmentMon, May 21, 2012A syndicate of banks that provided funds to companies of developer Sean Dunne towards acquiring two hotels in Ballsbridge for €400 million has secured €164.5 million summary judgment orders on consent against Mr Dunne over his personal guarantees of loans related to the purchase of Jury's Hotel.
- Mortgage lending down by 19%Sat, May 19, 2012NEW MORTGAGE lending fell 19 per cent to €450 million in the first three months of the year, the lowest rate of year-on-year decline since the first quarter of 2007.
- Ex-Payzone chief seeks injunctions against bankSat, May 19, 2012The former chief executive of a card-payment company and his wife are seeking High Court injunctions over a bank’s alleged failure to obey a court ruling relating to an appeal over a €5.1 million mortgage on their family home.
- Strong growth leaves Kentz with $2.46bn in contracts on books at end of AprilSat, May 19, 2012Engineering group Kentz had contracts worth $2.46 billion (€1.93 billion) on its books at the end of last month, the company told shareholders yesterday.
- Receivership for Alburn Real EstateThu, May 17, 2012SOLICITOR NOEL Smyth’s Alburn Real Estate UK is to be put into receivership by Rothschild, ending his efforts to regain command of the heavily indebted property portfolio which has breached a number of its borrowing covenants.
- CRH transfers Secil shareholdingWed, May 16, 2012Construction group CRH has transferred its 49 per cent shareholding in Secil, the Portuguese cement producer, to Semapa (SGPS, S.A.), its former joint venture partner, for a sum of €564.5 million.
- High Court reserves judgment on Quinn contemptWed, May 16, 2012A HIGH Court ruling on whether bankrupt businessman Seán Quinn, his son and nephew acted in contempt of court orders, which restrained them from putting assets beyond the reach of the former Anglo Irish Bank, has been reserved to next month.
