Irish Bank Resolution Corporation Limited

Type: Company
Name: Irish Bank Resolution Corporation Limited
First reported 11 hours ago - Updated 11 hours ago - 1 reports

Ex-bankers to face fraud trial

Two former bankers with the defunct Anglo Irish Bank are to stand trial for alleged fraud over an eight million euro loan arranged for one of them.Pat Whelan, 54, and Willie McAteer, 63, appeared before Dublin District Court where they were remanded on ... [Published Donegal Democrat - 11 hours ago]
First reported Aug 24 2014 - Updated Aug 24 2014 - 1 reports

Losses 'narrow' at Permanent TSB despite €4bn bailout by taxpayers

Operating losses narrowed by 62pc at State-owned Permanent TSB in the first six months of the year, but its chief executive Jeremy Masding remains cautious about the challenges that still face the bank. Operating losses narrowed by 62pc at State-owned ... [Published Irish Independent - Aug 24 2014]
First reported Aug 19 2014 - Updated Aug 19 2014 - 1 reports

Final sell-off of loans linked to IBRC is under way

THE special liquidators of the Irish Bank Resolution Corporation (IBRC) have begun the sales process for the final €2.4bn worth of loans linked to the former bank. THE special liquidators of the Irish Bank Resolution Corporation (IBRC) have begun the ... [Published Irish Independent - Aug 19 2014]
First reported Aug 11 2014 - Updated Aug 12 2014 - 2 reports

Former bankers face fraud charges

Two directors of the former Anglo Irish Bank are to stand trial for alleged fraud over an 8m euros (£6.4m) loan arranged for one of them.Pat Whelan, 54, and Willie McAteer, 63, appeared before Dublin District Court where they were remanded on bail after ... [Published BBC - Aug 11 2014]
First reported Aug 09 2014 - Updated Aug 09 2014 - 1 reports

Investigation into Drumm has cost nearly €1m

Investigations into the financial affairs of disgraced former Anglo Irish Bank chief executive David Drumm have cost almost $1m (€0.75m), the Irish Independent has learned. One set of American lawyers, hired by the bankruptcy official overseeing his case, ... [Published Irish Independent - Aug 09 2014]
First reported Aug 07 2014 - Updated Aug 07 2014 - 1 reports

Bain affiliate wins Future Fund mandate

Private equity firm Bain Capital’s debt arm Sankaty Advisors is set to win a $500 million plus debt mandate from Future Fund, reporting by Data Room has found.Details of the allocation are yet to be disclosed, but it is believed Sankaty has secured the ... [Published Business Spectator - Aug 07 2014]
First reported Aug 05 2014 - Updated Aug 05 2014 - 2 reports

ASB partnership with Madison Capital acquires prime retail property for $60M

ASB Real Estate Investments announces the acquisition of 10 South State Street, a 55,000 square foot retail property in Chicago’s historic Loop neighborhood. ASB made the $60 million acquisition on behalf of its Allegiance Real Estate Fund, a $3.5 billion ... [Published REJournals.com - Aug 05 2014]
First reported Aug 04 2014 - Updated Aug 04 2014 - 1 reports

East Coast firms pay $60 million for State Street retail building

By Micah MaidenbergOffice Depot is a tenant in the property. Photo from CoStar Group Inc.Two East Coast real estate firms paid $60 million for a Loop retail property, another sign of investors' hearty appetite for buildings in the heart of downtown.A ... [Published Crains ChicagoBusiness - Aug 04 2014]
First reported Aug 02 2014 - Updated Aug 02 2014 - 1 reports

The posterboy of the 1 per cent who can bring down a country

One of the titans of Wall Street, Paul Singer is in many ways the embodiment of modern global capitalism.From his offices in New York he has just forced Argentina into a second default in less than 13 years in pursuit of the money he says it owes him, ... [Published Irish Times - Aug 02 2014]
First reported Aug 01 2014 - Updated Aug 01 2014 - 1 reports

'Enjoy community service': former Anglo pair avoid jail

FORMER Anglo Irish Bank directors Pat Whelan and William McAteer would have been jailed for two years each had they not been suitable for community service, a judge warned. The ex-bankers were sentenced to 240 hours community service each for their role ... [Published Irish Independent - Aug 01 2014]
First reported Jul 30 2014 - Updated Jul 30 2014 - 1 reports

Update re Investment in Puma Hotels: 18 July 2014

("HCP" or the "Company")Further to the Company's announcement of 26 June 2014, the Hotel Corporation plc, the AIM listed investment company, has been notified that at the General Meeting ("GM") of Puma Hotels plc ("Puma") on 10 July 2014, the resolution ... [Published Noodls - Jul 30 2014]
First reported Jul 28 2014 - Updated Jul 29 2014 - 5 reports

Bain’s Sankaty Advisors buys $1.3 billion debt portfolio from JP Morgan

Sankaty Advisors , an arm of Bain Capital, on Monday said it was buying a $1.3 billion portfolio of loans and debt securities from JP Morgan’s Global Special Opportunities Group.The deal is the latest in a series of acquisitions by Boston-based Sankaty, ... [Published Boston Globe - Jul 28 2014]

Quotes

He said: "The mandate we have from the community and the expectations of it haven't changed, and we are proceeding with the deal according to the memorandum of understanding which we reached with Aventas."
Profit after tax rebounded to €61m in the first six months from a loss of €71m in the same period a year earlier. But the company remained cautious. "After the strong start in Europe we have seen an easing of trends in recent months . . . while the uncertain political backdrop in Ukraine remains a cause for concern" it said. Retired footballer Niall Quinn has bought into a well-known Kildare hotel, helping to save it from closure
">http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=760047 LONDON, August 15 (Fitch) Fitch Ratings has upgraded Ireland's Long-term foreign and local currency Issuer Default Ratings (IDR) to 'A-' from 'BBB+'. The Outlooks are Stable. The issue ratings on Ireland's senior unsecured foreign and local currency bonds have also been upgraded to 'A-'. The Short-term foreign currency IDR has been upgraded to 'F1' from 'F2' and the Country Ceiling raised to 'AAA' from 'AA+'. The rating of National Asset Management Ltd's (NAMA) guaranteed issuance has also been upgraded to 'F1' from 'F2', in line with the sovereign rating. KEY RATING DRIVERS The upgrade of Ireland's IDRs reflects the following key rating drivers and their relative weights: Medium The IrishIrish government has continued its multi-year fiscal consolidation programme following the exit from the Troika programme at the end of 2013 and remains compliant with domestic and eurozone fiscal rules. Fitch forecasts the 2014 general government deficit to be below the 4.8% of GDP target and expects a small primary surplus compared with a primary deficit peak of more than 9% of GDP in 2009. We believe Ireland's gross general government debt (GGGD) to GDP ratio peaked in 2013 at 123%, albeit after an increase of 100pp since 2007 to a level among the highest of Fitch-rated sovereigns. Market financing conditions have steadily improved over the past two years since Ireland returned to the markets. The yield curve has declined significantly and Irish yields are close to historical lows. The cash buffer remained high in 1H14 (EUR21bn in July 2014, equivalent to 12% of GDP) and the 2015-16 redemption profile has been successfully smoothed in recent months. Ireland's reserve currency flexibility score has been increased to '1' from '0' in Fitch's Sovereign Rating Model in light of its track record of favourable market access since the end of the Troika programme."
In abbreviated accounts for UK Land & Property North West in 2013, the company was described as retained by IBRC to "facilitate the ongoing letting and management of the existing tenant base and to ultimately refinance or dispose of the portfolio" . A secured bank loan of £310,000 against property assets was overdue and UK Land was negotiating with the lender for continued support when the bank...

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All (45) | News (44) | Reports (0) | Blogs (1) | Audio/Video (0) | Fact Sheets (0) | Press Releases (0)
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Ex-bankers to face fraud trial [Published Donegal Democrat - 11 hours ago]
Sean Quinn allies clinch deal on parts of his f... [Published Belfast Telegraph - Aug 26 2014]
Losses 'narrow' at Permanent TSB despite €4bn b... [Published Irish Independent - Aug 24 2014]
Final sell-off of loans linked to IBRC is under... [Published Irish Independent - Aug 19 2014]
Fitch Upgrades Ireland to 'A-'; Outlook Stable [Published Yahoo! Finance - Aug 15 2014]
Former bankers face fraud charges [Published BBC - Aug 11 2014]
Ex-bankers to face fraud trial [Published Yahoo! UK and Ireland - Aug 11 2014]
Investigation into Drumm has cost nearly €1m [Published Irish Independent - Aug 09 2014]
UK Land & Property subsidiaries in administration [Published Place North West - Aug 07 2014]
JPMorgan Chase : Sankaty Advisors Acquires J.P.... [Published 4 Traders - Aug 07 2014]
Bain affiliate wins Future Fund mandate [Published Business Spectator - Aug 07 2014]
ASB partnership with Madison Capital acquires p... [Published REJournals.com - Aug 05 2014]
USAA Real Estate JV Grabs 280-Unit Multi-Family... [Published Commercial Property Executive - Aug 05 2014]
Allegiance Real Estate Fund acquires Chicago re... [Published Property Funds World - Aug 05 2014]
ASB Buys 10 S. State for $60 Million [Published GlobeSt.com - Aug 05 2014]
East Coast firms pay $60 million for State Stre... [Published Crains ChicagoBusiness - Aug 04 2014]
Sean Quinn's friends to buy back parts of empir... [Published Belfast Telegraph - Aug 04 2014]
The posterboy of the 1 per cent who can bring d... [Published Irish Times - Aug 02 2014]
'Enjoy community service': former Anglo pair av... [Published Irish Independent - Aug 01 2014]
Money and Banking Statistics – June 2014 [Published Financial Regulator Ireland - Jul 31 2014]
Update re Investment in Puma Hotels: 18 July 2014 [Published Noodls - Jul 30 2014]
4 ‘Great job’ by Corrigan but NTMA still has wo... [Published Irish Times - Jul 30 2014]
TRLPC: Sankaty sops up JPM loan portfolio, targ... [Published Reuters - Jul 29 2014]
Quinns tell court of recent recordings [Published Irish Times - Jul 29 2014]
Judge gives deadline for KPMG co-defendant issue [Published Irish Times - Jul 29 2014]
JPMorgan To Sell Its $1.3 Billion Loan Portfolio [Published Seeking Alpha - Jul 28 2014]
Bain’s Sankaty Advisors buys $1.3 billion debt ... [Published Boston Globe - Jul 28 2014]
Bain Capital Unit Buys $1.3B Loan Portfolio fro... [Published Mergers & Acquisitions - Jul 28 2014]
JPMorgan To Sell Its $1.3 Billion Loan Portfolio [Published Bidness Etc - Jul 28 2014]
NAMA seeks €41.7m judgment against businessman,... [Published Irish Independent - Jul 28 2014]
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Sankaty Advisors acquires J.P. Morgan investmen... [Published PE Hub Blog - Jul 28 2014]
Sankaty Advisors has acquired a portfolio of loans and other securities from J.P. Morgan’s Global Special Opportunities Group . The portfolio contains mezzanine loans in North America and Europe, as well as loans and related special situations investments ...
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