Seen and Heard: 1,000 pubs and shops in insurance ‘limbo’

Dilemma follows financial authorities in Liechtenstein seizing control of Gable Insurance

The Sunday Times reports that up to 1,000 Irish pubs and other retail businesses "have been left in limbo" about their insurance cover after financial authorities in Liechtenstein seized control of Gable Insurance, which is headed by chief executive William Dewsall.

Regulators have appointed PwC as special administrator to the company, which sold insurance in Ireland – as well as other European countries – from a network of brokers.

Lobbying in relation to company law change

Law firm Matheson lobbied the Government in relation to changes in company law which oblige unlimited companies to put the word "unlimited" in their legal name, according to documents obtained under Freedom of Information by the Sunday Times.

Matheson said there was “shock and disappointment” among its multinational clients who would incur “tens of millions of euro” in costs changing their legal names.


Murphy to step down at Hewlett Packard

One of Ireland's longest-serving tech executives Martin Murphy – the head of Hewlett Packard in Ireland – is to step down after more than 30 years at the company, the Sunday Times reports.

HP staff at its Irish operation, which employs 4,000 in Leixlip, Co Kildare, were told on Friday that he will leave early next year.

Nama to be questioned about site sale to Abbey Theatre

The Sunday Business Post reports that Nama is to be questioned by the Public Accounts Committee about the sale to the Abbey Theatre of an adjacent strategic site for €1.5 million.

Eden House was originally meant to be the site for a development by property developer Garrett Kelleher, but it was sold by Nama to the theatre without soliciting rival bids.

ESB customers face bill hike

The Sunday Business Post also reports that electricity customers are facing a €6 million hike in their bills after cost overruns on the State's electric car project.

The ESB was given a budget of €26 million to roll out 1,000 car-charging points, but actually spent €33 million, the paper says.

Dunne accuses Nama and Ulster Bank of ‘relying on a narrative fallacy’

Bankrupt developer Seán Dunne has accused Nama and Ulster Bank of "relying on a narrative fallacy" to "vindicate their theory" over his transfer of €100 million in assets to his wife, according to court papers obtained by the Sunday Independent.

Mr Dunne is opposing an application by a bankruptcy trustee to extend Mr Dunne's bankruptcy by five years.

Increase in Brexit-related relocation enquiries from London

The Sunday Independent also reports that the Central Bank is witnessing "a material uplift" in enquiries from financial firms exploring the option of relocating from London to Dublin in the aftermath of Brexit.

The paper says the bank has plans to commit extra staff and resources to cope with any increase in applications.