A property developer borrowed millions from his company and never paid any tax. When challenged, the company said its owner was acting illegally. The resulting case has shone a light on the tax implications of so-called “soft company loans”.
Following recent missed payments on debts totalling $2.75 billion, bondholders including a British investment firm with Irish connections are considering their options against GTLK Europe.
2020 was a mixed bag for the US vulture fund, with collections and valuations slowing down at some of the SPVs used to buy distressed loans here. Initial figures for 2021 show a clear bounce.
Belatedly, the Oireachtas scrutinised the crucial issue of security St Vincent’s gave to its bankers over the site of the new maternity hospital on the last day before a final government decision. Better late than never.
St Vincent’s debt is secured on its land, and the pandemic relief it has obtained from the conditions attached to its debt is about to expire. Where does this leave the new maternity hospital site?
Growing worldwide profits are sitting in Apple’s subsidiary in Cork, including some frozen pending an appeal in its €13 billion dispute with the EU. The tech giant is leveraging the funds in a new way.
When the Irish treasury subsidiary of an overseas manufacturing group gained €200 million thanks to a loan waiver, the company declared this as non-taxable income. This led to a major test case.
Roadbridge has long carried heavy debts by industry standards. And it is now in talks with Bank of Ireland over the facilities.
Irish banks and vulture funds' instincts for debt enforcement litigation are seemingly dormant, except for one fund which may be running out of time.
After changing hands twice, the debt of farmers who had borrowed from ACC ended up in a dual structure set up by CarVal under new rules governing Section 110 companies. How successful has it been in reducing the vulture fund’s Revenue bills?
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