Anglo Irish Bank Share Discussion Threads

[lbo] 13/1/2010 16:08

EMPG says in talks over Houghton Mifflin



Educational media company EMPG, formerly Riverdeep and the owners of Houghton Mifflin Harcourt, has confirmed it is in discussions which will result in 'comprehensive' financial restructuring.

Earlier this afternoon, Fine Gael TD, George Lee, said that Houghton Mifflin Harcourt has failed and that a number of Irish equity investors have lost significant sums of money as a result.

"Many of these investors were funded through large loans from Anglo Irish Bank, which is now wholly owned by Irish taxpayers. As a company, Houghton Mifflin Harcourt was a highly leveraged operation and had very significant banking commitments. I understand that the remaining US business is to be transferred to its bond holders. However, it appears that its Irish equity investors will lose all of their investment as a result of this failure. This will have repercussions for Anglo Irish Bank, and possibly other Irish banks, and therefore the Irish taxpayer," he said.

According to RTE this afternoon, stockbroking company Davy has been in touch with a number of investors informing them that their equity has been wiped out.

Houghton Mifflin Harcourt supplied educational resources to a number of US States. However, demand for Houghton Mifflin Harcourt's products has fallen as a result of the recession

[lbo] 16/11/2009 23:05

Anglo Irish "needs E5.7bn new capital"

[lbo] 13/11/2009 21:31

DEVELOPER NOEL Smyth has borrowings of almost half a billion and rental income of just €13 million arising from his planned €300 million development of The Square shopping centre in Tallaght

the only bank prepared to fund his scheme was Anglo Irish Bank. Because of previous borrowings with Anglo, it was the "obvious" lender and Anglo was confident about the planned development "on a long-term basis", he said.

[lbo] 06/11/2009 12:37

SEÁN FITZPATRICK and Lar Bradshaw sat in on the board meeting of the Dublin Docklands Development Authority (DDDA) that approved its investment in the €412 million Irish Glass Bottle site deal in 2006, despite the involvement of Anglo Irish Bank.

[lbo] 03/11/2009 11:01

Govt refuses to release Anglo documents





Anglo Irish sues Hugh O'Regan

[lbo] 03/11/2009 09:59

Anglo facing fraud lawsuits for €15m over hotels venture

[lbo] 02/11/2009 21:03

Anglo Irish Bank is being sued by 21 "high net worth" Irish-based private investors for $23 million dollars over their investment in a fund to buy and renovate two hotels in New York, the Commercial Court heard today

[lbo] 02/11/2009 13:07

Moody Blues' was a sign of trouble ahead for Quinn Group



It was known that even prior to losing the rating, Quinn Group was rated only Baa2 by Moody's - not exactly a stellar credit rating for an insurance company. The rating means that the company offers ''adequate financial security. However, certain protective elements may be lacking or may be characteristically unreliable over any great length of time''.

The rationale behind the Baa2 rating was described by Moody's in a credit opinion issued in March. It drew attention to certain aspects of the company's exposure to higher risk investments, particularly equities and property, and to the fact that its private ownership structure could potentially restrict financial flexibility were additional capital to be required.

Moody's also stated that Quinn's ''large exposure to risk assets represents one of the most significant risks to Quinn [the company]. Equities and property accounted for more than 65 per cent of invested assets at year end 2006, with meaningful market movements likely to cause significant stress to the capital position of the company''



Large international broker networks such as Aon and Marsh refuse to do business with Quinn because the insurer withdrew from having its debt rated – a key assurance of solvency. Privately, executives at large competitors are worried that a Quinn collapse – at the Group level or just of the insurer – would devastate the insurance industry in Ireland as other firms would be forced to pick up business originally written on terms they could not match. Such a situation would drive up average insurance costs for businesses and probably put a good few firms underwater – exactly the opposite of what the government wants at the moment.

[lbo] 02/11/2009 13:03

Seán Quinn group is largest debtor of Anglo Irish

[lbo] 02/11/2009 12:55

"The Quinn family and its businesses are understood to be the largest single customer of Anglo Irish Bank"



Quinn's success now of great interest to taxpayer

Seán Quinn, his family and their businesses are understood to be the single largest customers of nationalised Anglo Irish Bank. The amount involved is not known, but must be in excess of €2 billion, given the scale of the debt to that bank owed by some of its property development customers.

it would be fair to suspect, that a large part of the €200 million taken from the group by the family last year in dividends went towards financing the family's bank debt.

[hvs] 01/11/2009 12:26

And The Irish TAXPAYER left WITH the BILL.

Nice , vely vely NICE.

And we talk about Corruption in THE THIRD WORLD.

Looks like we shall soon be eating potatoes. Not RED BOOSTERS though .

[father o toole] 01/11/2009 11:49

of course he`ll be on his yacht, he`s "irelands richest man"

[hvs] 01/11/2009 11:38

IRELAND is BUSTED.

Sean Quinn must be on his YACHT having a vely vely vely good time.

[father o toole] 01/11/2009 11:36

story in the sunday times that sean quinn owes anglo 3billion and had bought 28% of anglo at one stage, i said before and now its obvious, sean quinn is busted imho.

[lbo] 30/10/2009 14:37

The investigation into Anglo Irish Bank is to examine lending to Seán Quinn and his family by Anglo, which was used partly to maintain his 25% position in the bank's shares, RTÉ News had learned

[setanta3] 19/10/2009 18:17

how to get rich in Ireland?
become a planner!
brown envelopes shelved, for now?

[lbo] 19/10/2009 18:14

Some Irish land will have to be dezoned says planning board head; Ireland has 88 planning authorities for population of 4.4m

[lbo] 05/10/2009 10:34

Anglo's house of horrors
Thanks to a discreet change, Anglo Irish Bank won't be issuing fresh financial information again until March or April, but that won't stop the unfolding horror show concerning loans to former directors and serving executives of the bank.

[lbo] 01/10/2009 16:17

Developer's retained profits plummeted by €10m in two years as the bubble burst

[lbo] 01/10/2009 10:36

Its like a black list now!

[lbo] 01/10/2009 10:33

AN Irish couple who bought a London office block at the height of the property boom face losing up to €20m on their investment.

the couple, who are estimated to have amassed a property portfolio of more than €1bn at the market peak

Rich List and estimated their net wealth, after borrowings are deducted, at €46m.