Monday 9 December 2019

Department of Finance

Derek Moran has been appointed as secretary general in the Department of Finance.

He will formally take up the position on July 15, replacing John Moran and marking a return to promotion of an internal candidates to the top job in the department.

Derek Moran was the assistant secretary general with responsibility for the fiscal policy division in the department.

Polar's UTV stake

Polar Capital has raised its stake in UTV to 4.46pc.

The money manager has been an investor in the broadcaster since 2012.

Its stake pased 4pc on July 7, triggering a mandatory declaration.

Air France-KLM dip

Air France-KLM sent a shiver through the airline sector when it slashed full-year profit forecasts due to overcapacity on its US 
routes.

Air France-KLM, which flew 77.3 million passengers across its fleet of 552 planes last year, cut its 2014 earnings target by 12pc 
to around £1.7 bn (€2.14bn).

Clarification

In yesterday's edition, (July 8th) it was reported that Edward Farrelly BL, for Terence Cooney (a former director of Irish Nationwide Building Society Ltd) had secured permission from Mr Justice Peter Kelly to bring an application to 
have accountancy firm KPMG joined as a defendant to litigation being pursued by Irish Bank Resolution Corporation Ltd (in special liquidation) against Mr Cooney and three other former directors of INBS if a decision was not made by July 28th relating to an independent review by solicitors Eugene F Collins of matters concerning the litigation.

The special liquidators of IBRC have asked us to clarify that Mr Justice Kelly informed Mr Farrelly he could bring an application for a stay on the proceedings against Mr Cooney if a decision on the review by solicitors Eugene F. Collins was not made by July 
28th.

Parkway Centre

AN article in Tuesday's Irish Independent referred to Parkway Shopping Centre in Limerick being mothballed in 2007. This was incorrect. Parkway Shopping Centre is operating as normal and has been for several years.

We are happy to clarify this matter.

Irish Independent

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