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.
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.
The HSE halted payments to the Mater Private amid concerns that it was being billed for hefty intercompany interest bills paid to a Luxembourg entity. The High Court has largely ruled in its favour.
Cabot Financial Ireland and its Dublin subsidiaries have grown their assets and revenue from non-performing loans acquired from Portugal to Poland – as well as the taxable Irish profit arising from this business.
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.
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