AIB has started repaying some investors burned by Belfry Funds all or some of their money
At long last, AIB has begun paying investors in the failed Belfry Funds, and some are even getting damages. It has been a long time coming for investors who have battled the bank for decades.
29th Sep, 2022 - 3 min read
An Irish financial advisory firm has been acquired for €25.8m
MMPI employs 54 people, including 18 advisors providing financial planning, insurance services, investment, pensions, and mortgage advice to high-net-worth individuals. It has now been acquired by an AIM-listed wealth and investment management group.
26th Sep, 2022 - 2 min read
How attempted tiger kidnappings and a brush with death set Declan Murphy on an entrepreneurial journey
Declan Murphy believes Allsorter, which provides AI bias and compliance technology for hiring, can be a billion-dollar business. But to understand his plans for the future, you must understand the various turning points in his past.
26th Sep, 2022 - 12 min read
Three years and €2.5m later, Content Llama has lost its co-founder, customers and is back at “start-up stage”
As recently as May, it all seemed to be going to plan for Content LIama, an e-commerce software company backed by high profile investors. But the summer months appear to have changed the company's course and its future is now being tested.
23rd Sep, 2022 - 3 min read
Charged in San Francisco with alleged tax fraud, two Cork-born brothers remain “at large”
Denis Cullinane, owner of Cullinane Plastering, and Jeremiah ‘Jerry’ Cullinane, owner of Cullinane Construction, have had their US assets frozen following the charges. Office administrator Gemma Maher, who holds both Irish and US passports, was arraigned earlier this week.
16th Sep, 2022 - 3 min read
McGrath to plough more funds into restaurant as creditors face haircuts
Shareholders, suppliers and the landlord of Brasserie Sixty6 are among the creditors expected to suffer severe write-downs while co-owner and chef Dylan McGrath is preparing to lend fresh cash to rescue the business.
15th Sep, 2022 - 2 min read
Man arrested in insider trading probe was trading in shares of Dublin pharma company Open Orphan
The man, not a well-known figure in Irish business, was not working for the pharma services company. Open Orphan is “helping the relevant Irish authorities in respect of this allegation.”
14th Sep, 2022 - 2 min read
One of Ireland’s leading venture capitalists is predicting a “material slowdown” in investments
Frontline founding partner Will Prendergast says the investment slowdown has already happened in Europe. However, impact investor Faye Walsh Drouillard remains much more upbeat. “It is not all doom and gloom for us,” she said.
12th Sep, 2022 - 3 min read
Siteserv fallout: Brian Harvey, the €3.2m exit package and the “elaborate scheme” to conceal assets from IBRC
The IBRC Commission report has revealed new details about the generous exit package received by Siteserv’s former CEO Brian Harvey, while also noting that neither he nor his wife paid any tax on the multi-million sale of his shares in the business.