Business Irish

Friday 24 January 2020

Credit Union body appoints new CEO

THE body charged with overseeing the mergers of credit unions has appointed accountant Donal Coghlan as chief executive.

Mr Coghlan will head up ReBo from June 12 next. He is former general manager of St Patrick's Credit Union – the ESB staff credit union and the second largest in the State. He also worked regulating credit unions in the Central Bank.

FOLEY'S PUB FIRM TO LOSE BUSINESS

THE owners of Foley's bar and O'Reilly's bar on Dublin's Merrion Row are set to lose the business after the High Court was told an outside investor has been secured. An examiner was appointed last April to the two companies behind the business.

The High Court yesterday granted the examiner's application to extend court protection for another 18 days.

The court was told an investment agreement for the business had been reached but time is needed for a creditors meeting and to finalise a scheme to be put before the court. The judge said it appeared the companies are being purchased and there would be a disposal by the existing shareholders.

PMPA TO EXIT ADMINISTRATION

The old PMPA insurance company will exit administration 30 years after it was saved from collapse by State intervention.

Final orders made yesterday by High Court president Mr Justice Nicholas Kearns mean the administration of PMPA, which changed its name to Primor plc, will conclude on June 10. PMPA was placed in administration in late 1983. Then the largest motor insurer in the State, it had about 300,000 policy holders. The judge noted much time has passed since the company was placed in administration in 1983 and a long process was involved. On the application of Rossa Fanning, the judge earlier made several orders, including for final repayment of some €1.1m to the State's Insurance Compensation Fund, bringing to some €11.1m the total sums repaid.

TWO IRISH PROJECTS IN EUROPEAN FINAL

COMPUTER programming initiative Coderdojo and mental health service Mymind are among 18 European socially beneficial projects that have made it to the final of European competition Join Our Core, judged by Ben & Jerry co-founder Jerry Greenfield.

Competitors will pitch their business idea to 10 of Europe's top 'ethical business people' for a €10,000 prize.

Irish Independent

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