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Full coverage: Debt

An American fund giant has appointed receivers to a Mainstream financing vehicle

Irish-founded renewables firm Mainstream is in a $313m debt dispute with Ares Management. The legal row just stepped up a notch.

Tom Lyons
25th Jul, 2023 - 1 min read

US lender sues Mainstream Renewable for €280m

After borrowing from US-managed funds, the Irish-founded renewable energy developer announced the restructuring of its projects in Chile, triggering allegations that it is trying to evade its responsibility to its lenders. Mainstream describes the allegations as "baseless" and will fight the case.

Tom Lyons
21st Jul, 2023 - 3 min read

For Devenish, the sale of Dowth is more than the disposal of a flagship asset

By selling the research farm touted as Ireland’s answer to climate change, the livestock nutrition and agricultural technology group is closing a symbolic chapter. But the true meaning of the decision emerges from Devenish’s debt history.

Thomas Hubert
21st Apr, 2023 - 5 min read

SBCI boss on banking turmoil, the rise of alternative lenders, and stepping in at times of crisis

Since it was founded in the aftermath of the financial crisis, the Strategic Banking Corporation of Ireland has advanced €3.5bn to 55,000 Irish SMEs. Over that time, its model has evolved and its remit expanded. CEO June Butler talks about the journey and reveals what is coming next.

Ian Kehoe
18th Apr, 2023 - 13 min read

The Eagle has landed: How Cerberus exceeded a 50% return on controversial Nama northern portfolio

The controversy surrounding the sale of Nama loans secured on properties in Northern Ireland has focused on the discount given to their buyer. A forensic investigation reveals how much Cerberus made from the deal.

Thomas Hubert
10th Mar, 2023 - 6 min read

Apollo installs receiver over Harcourt Development’s shopping centres; consensual appointment paves way for sale

Acting through a Luxembourg entity, Apollo has appointed KPMG as receiver over six shopping centres, a move designed to facilitate the sale of the portfolio to a Canadian buyer.

Ian Kehoe
21st Feb, 2023 - 2 min read

“The judgement wasn’t something I wanted to do”: Businessman Tom Brennan secured €40K judgement against former hurler DJ Carey

Carey claimed to be due an insurance payment, so asked the entrepreneur for a short-term loan. However, the Kilkenny hurling star never repaid it.

Tom Lyons
13th Feb, 2023 - 1 min read

Omni-present: CarVal and Goldman Sachs rejig old ACC loans

The two American financial giants paid €322m for the discounted mortgage book offloaded by Rabobank almost three years ago. They are still bouncing some borrowers around in search of higher profit.

Thomas Hubert
9th Jan, 2023 - 3 min read

The debts of corporate Ireland: As interest rates spike, which companies have borrowed heavily?

Companies that got comfortable with large amounts of debt are having to adjust to tighter credit and rising interest rates. This investigation reveals the Irish companies that have the highest exposure, and the one thing they all have in common.

Sean Keyes
20th Dec, 2022 - 9 min read

How a vulture fund and a Wall Street Bank are carving up profits from bad Ulster Bank mortgages

After splitting a lucrative portfolio of Irish distressed debt with Morgan Stanley, Cerberus is on track to double its money on the 2018 Scariff deal.

Thomas Hubert
19th Oct, 2022 - 3 min read
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