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Friday 31 March 2023 Dublin: 9°C

# Bankruptcy

All time
# Bazooka
Shatter rules out exempting jewellery from new insolvency law
The justice minister told the Oireachtas justice committee that “diamond bazooka” engagement rings could not be excluded.
# Euro
Greece 'committed' to reforms to avert bankruptcy
The country’s Finance Minister warned the next few weeks are crucial for the country’s future in the euro.
# bankruptville
Californian town files for bankruptcy
Mammoth Lakes doesn’t have the funds to pay $2.7m in obligations, especially after losing a property development fight.
# Your Say
Poll: Will the Personal Insolvency Bill help people struggling with debts?
Proposed legislation to reform Ireland’s bankruptcy regime were unveiled this week. Do you think they’ll help?
# insolvency
Shatter publishes long-awaited plans to reform insolvency law
The new regime reforms our bankruptcy laws, and aims to help the likes of struggling mortgage holders out of debt.
# Bankruptcy
David Drumm's wife reaches settlement with US court - report
Former Anglo Irish Bank CEO David Drumm filed for bankruptcy in the US in 2010.
Column: Exporting our troubles is an Irish speciality
Ireland’s solution has always been to send our problems abroad, writes Jillian Godsil – and we’re still doing it today.
# Ivan Yates
Ivan Yates to leave Newstalk
Broadcaster Ivan Yates has confirmed that he is to leave his place at the helm of Newstalk’s Breakfast show to concentrate on his “financial issues”.
# Priory Hall
Priory Hall residents question developer's ability to afford legal team
The Supreme Court has dismissed Dublin City Council’s appeal to overturn the stay on Tom McFeely’s jail sentence and €1m fine.
Column: It’s not enough to help people in debt. We must look at the big picture
New legislation will help safeguard people struggling with debt – but they deserve to have their homes protected too, writes Noeleen Blackwell.
# Bailout
IMF signs off on latest €3.2 billion loan to Ireland
The IMF signs off on the fifth review of its bailout, and is releasing €3.2 billion to Ireland – bringing its total IMF debt to €16bn.
# Uh-Oh
Fitch: 'Highly likely' that Greece will default soon
The ratings agency has downgraded Greece just one day after EU leaders agreed on a €130 billion bailout deal for the country.
# Kodak
Kodak to save millions by phasing out digital cameras
The company expects to save more than $100 million through phasing out its production of digital cameras and other devices.
# Eurozone
Greek leaders head to Brussels empty-handed
If Greece doesn’t secure a bailout loan by 15 February it may not have the money to pay a €14.5 billion bond on 20 March.
# Priory Hall
Hogan: 'Inappropriate' of me to meet with Priory Hall residents
Phil Hogan says it’s his job to bring in the appropriate housing legislation, but the enforcement of those laws is not up to him.
# Eurozone
Second bailout talks resume today as Greece tries to avoid bankruptcy
The leaders of the three coalition parties meet with the PM to agree on austerity measures so a €130bn bailout can be secured – and a default avoided.
# Mortgages
Government's new debt regime may allow mortgage debt to be written off
The cabinet has approved a draft Bill allowing debts to be written off outside of court, while bankruptcy rules are also changed.
# Kodak
Kodak applies for bankruptcy protection
The company is carrying out major restructuring in an effort to stay in business.
Column: 10 reasons why Ireland should be praying for a second bailout
Cheap money, essential reforms, and a route away from gombeenism? A second bailout would have immense benefits for Ireland, argues NAMAwinelake.
# Bankruptcy
Court adjourns application for Priory Hall developer's bankruptcy
The High Court adjourns an application making Thomas McFeely bankrupt in Ireland, so that his UK bankruptcy can be challenged.
# Bankruptcy
Priory Hall residents criticise McFeely's reported bankruptcy
Residents complain that Thomas McFeely will be out of debt in 12 months, while they face years of financial turmoil.
# Bankruptcy
Drumm fails in bid to have bankruptcy challenge dismissed
The former Anglo chief executive wanted a challenge against his bankruptcy dropped because a form was filed 51 minutes late.
# Bankruptcy
Second Grehan brother declares bankruptcy in England, owing NAMA €308m
Danny Grehan – who owes NAMA €308m – follows his brother’s lead by declaring himself bankrupt in a court in Slough.
# Bankruptcy
High Court clears the way for Quinn bankruptcy in Republic
The High Court will now hear a petition next Monday on having Sean Quinn declared bankrupt in the Republic of Ireland.
# Property
Council could offer Priory Hall residents €50,000 for apartments
But residents say they will reject any such offer as it would leave them homeless and force them into bankruptcy.
# Bankruptcy
Developer who owes NAMA €312m declared bankrupt in London
Ray Grehan, who was ordered to repay €312m to NAMA two months ago, is declared bankrupt at a court in London.
# Eurozone
The single image that explains what happens if we leave the euro
This image from Boston Consulting Group provides a handy guide to the practical impact of leaving the common currency.
# Bankruptcy
American Airlines files for bankruptcy
The fourth largest airline in the world lost $868 million (€650 million) during the first nine months of this year.
# Sean Quinn
Quinn: "What happened over the last two years shouldn't have happened"
In an interview with a Fermanagh newspaper Sean Quinn vowed to restore his family’s reputation – and said that he has received thousands of letters of support from well-wishers.
# Courts
Court to rule on whether Anglo can still sue bankrupt Quinn
The Commercial Court will decide tomorrow on whether IBRC, formerly known as Anglo, can still seek a judgment against Sean Quinn.
# Sean Quinn
Seán Quinn's bankruptcy challenged by IBRC
The IBRC – formerly Anglo – is to apply for his insolvency proceedings in Northern Ireland to be annulled, saying the courts do not have jurisdiction over Quinn.
# Daily Fix
Daily Fix: Friday
A round up of the day’s main news – plus any bits and pieces you may have missed.
# Anglo
Drumm's $4m Cape Cod mansion sold to pay off creditors
The sale of David Drumm’s waterfront mansion for €2.82m will some of the way towards repaying around €10.2m in debts.
# Courts
TD Wallace ordered to repay €19m in bank loans
ACC Bank wins a summary judgment against Mick Wallace over personal guarantees he gave for five business loans.
# Bankruptcy
David Drumm's Cape Cod house could sell for $4m
A US bankruptcy official wants to sell the former Anglo chief executive’s house in Cape Cod, Massachusetts.
# Saab
Saab workers launch bankruptcy action against troubled car manufacturer
The move comes just a week after the company’s bankruptcy protection bid was rejected by a Swedish district court.
# Saab
Saab applies for bankruptcy protection
The troubled Swedish car manufacturer has applied for protection from their creditors amid plans to draw in additional funding.
# David Drumm
Anglo tries to stop former chief from declaring bankruptcy in the US
Meanwhile, the Minister for Finance says the government cannot raise questions about the legitimacy of Drumm’s residency in the US – as this could interfere with the work of the DPP.