They claimed they were not told, before entering into their investments, of the existence of a loan-to-value covenant in bank borrowings to secure the investments.
The property in question was acquired by the fund in February 2006 but in 2010 a receiver was appointed over it and it was sold in 2011. He says he and his company suffered loss following the appointment of a receiver on foot of the breach of the loan-to-value covenant and the subsequent sale of the property while it was in negative equity.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Law Law Latest News, Law Law Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Irish justice system 'failing' migrant fishing workers who report exploitation“After several years working back and forth as a seaman, it’s the first time that I experienced an employer that abused me. They mistreated us.” Our main story this morning is an investigation by noteworthy_ie into exploitation in the fishing sector: noteworthy_ie Joining the State in harassing and driving Irish fishermen out of business while other countries exploit our resources with impunity, disgraceful, go after the foreign boats exploiting our waters and people traffickers.
Source: thejournal_ie - 🏆 32. / 50 Read more »
Irish justice system 'failing' migrant fishing workers who report exploitationOver the past 6 months, noteworthy_ie teamed up with journalists in the Philippines to investigate exploitation in the Irish fishing industry. Here is what they found:
Source: thejournal_ie - 🏆 32. / 50 Read more »
Google takes fight to topple record fine over Android to EU’s top courtGoogle takes fight to topple record fine over Android to EU’s top court via IrishTimesBiz Good. I hope Google wins.
Source: IrishTimesBiz - 🏆 6. / 77 Read more »
Five Degrees of Change: Michelle Murphy🎙️ Michelle Murphy, research and policy analyst SocialJusticeI, proposes 3 policy and 2 personal changes for a greener world in the fivedegreesofchange podcast, sponsored by PwCIreland. Listen and subscribe wherever you get your podcasts Tax food to help the vulnerable. Of course the vulnerable d'ont eat🙈
Source: businessposthq - 🏆 8. / 71 Read more »
Restaurants claim giving staff legal requirement to tips will hit wages“While we would welcome the legislation which gives greater transparency for staff and customers, the unintended consequence is that staff will be taxed on their tips and will see less in their pay than before,” Adrian Cummins told the Business Post.
Source: businessposthq - 🏆 8. / 71 Read more »