Sign up to The Irish Times Archive (1859 - 2008)My Account »
Wed 12 Dec 2008Warning banks face €1bn writedowns
A HIGH Court ruling in a recent examinership case could leave banks facing writedowns totalling more than €1 billion on loans secured against commercial property, two analysts say.
John Cantwell and Ciaran Callaghan of stockbrokers NCB said in a note published yesterday that the High Court-approved settlement in the Ocean Bar examinership case was a blow to the banks because it could cut the amount they can recover against secured loans in such cases.
Choose a Subscription type - required
