Sunday 22 October 2017

BoI examination of O'Donnell adjourned

BANK of Ireland's court examination of solicitor Brian O'Donnell about his assets as part of the bank's bid to enforce a €75m judgment has been adjourned. The adjournment was granted on terms including his agreement to produce a range of documents, including those related to trusts that the bank claims are invalid.

Galaxy sales help Samsung top rivals

TECHNOLOGY

SALES of the Galaxy smartphone saw a record quarterly profit of $5.9bn (€4.8bn) at Samsung Electronics. The flagship Galaxy smartphones are likely to have stretched their lead over rivals Apple and Nokia.

Receiver in at Douglas Court

REceivership

DOUGLAS Court Shopping Centre in Cork has gone into receivership. The centre is owned by Douglas Developments, a subsidiary of the Shipton Group. KPMG were appointed as receivers yesterday. A company spokesman insisted that all stores will continue to trade as normal -- and that no job losses are anticipated.

KBC gets €17.7m in damages from firm

COURTS

KBC Bank has been awarded €17.7m damages against Dublin law firm BCM Hanby Wallace (now Byrne Wallace) over "most serious" failures to ensure the bank had security for substantial loans to property developer and struck-off solicitor Thomas Byrne. The bank sought security on 30 properties but only got it on three.

BA key to Ryanair plans for Aer Lingus

AVIATION

RYANAIR'S latest attempt to buy Aer Lingus could get the green light from Brussels if BA owner IAG demonstrates an interest in operating more services out of Ireland, according to Merrion Stockbrokers. In two research reports published yesterday, Merrion says that securing European Commission approval for Ryanair's €694m Aer Lingus bid would be a "big obstacle", but not insurmountable.

Irish Independent

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