Liquidator figures down on last month
COMPANY failures could be starting to bottom out, according to research from Vision Net. There have been 155 liquidators appointed so far in May, compared to 190 the previous month.
The number of receiverships also fell, from 64 in April to 44 so far in May. Almost two thirds of the 152 insolvencies recorded in May 2011 came about because of creditors seeking liquidations.
Court-ordered liquidations rose 50pc. Vision Net's data shows 40pc fewer first-time directors were appointed in May, a sign fewer people are willing to strike out on their own in business.
Dublin Port 'needs better facilities'
DUBLIN Port needs better facilities and supporting infrastructure as part of a strategy for the next 30 years, according to Dublin Chamber of Commerce, in response to Dublin Port's MasterPlan 2011-2040 public consultation.
Ulster Bank gets judgment orders
ULSTER Bank has secured summary judgment orders for almost €18m against businessman Raymond Stokes. It includes an order for about €6.25m against Mr Stokes' wife, Ann. In related proceedings, the bank is pursuing Anthony Dean, Woodhaven, Milltown Bridge Road, Milltown, Dublin, for more than €5.56m.
Pageant ups stake in Datalex to 3.2pc
PAGEANT Holdings, the investment firm controlled by businessman Nick Furlong, has boosted its stake in Irish travel-software firm Datalex. Filings lodged with the stock exchange indicate Pageant acquired 377,000 shares in Datalex, raising its entire holding to 2.3 million shares, or 3.2pc of the company's outstanding stock.
Friends First chase €4.5m in loans
THREE daughters of deceased developer Liam Maye are being pursued by Friends First Finance Ltd for repayment of €4.5m loans. The proceedings against Emma, Nicola and Dawn Maye were transferred to the Commercial Court yesterday.