Justice Twomey used a commercial court judgment to excoriate serial litigants and to advocate for changes to prevent the abuse of the Irish justice system. As legal caseloads increase, the judge makes a number of valid points.
The acquisition of thousands of remaining Ulster Bank loans is transformational for the alternative lender, but what does it mean for those homeowners?
Brian McDonagh once dreamt of building the world's largest data centre with his two brothers. After a decade of legal disputes arising from the ill-fated project, the High Court has granted an order for the possession and sale of his Delgany home.
The Dublin vehicle established by Cerberus to digest property-backed debt with a face value of £1.4 billion in Northern Ireland has come to the end of its life, revealing how much profit the US vulture fund has drawn from the deal.
Pandemic-hit debt collections have forced the US vulture fund to renegotiate some of its own loans with Morgan Stanley and Deutsche Bank. The worst cases to date have a common denominator: Ulster Bank.
In 2005, three Irish investors formed a partnership to buy commercial real estate in Romania. A €3 million bank loan was drawn down. Now one of the three, former Fine Gael donor Andrew Sheehy, claims his name was forged on the loan documents.
He stood in the way of Apple, racked up debt, used forged documents and a front company. Brian McDonagh has been unyielding in his ambition to build a data centre. New High Court findings suggest he will pay a hefty price.
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