The Central Bank flagged concerns with the regulator in Gibraltar earlier this year about a number of insurance firms carrying out business in Ireland, according to the Sunday Business Post.
The story follows Friday’s news that Gibraltar-registered Enterprise Insurance, with 14,000 Irish motor customers, filed to wind up claiming insolvency.
The paper also reports, as an "exclusive", that Fianna Fáil will block plans by Fine Gael to remove tax credits from high- and middle-income earners in the budget this October. The paper claims the decision is based on the belief that such a move would further complicate the tax system and could be unworkable.
Rental property
A property fund plans to invest up to €200 million a year in the affordable rental scheme due to be introduced as part of the Government’s housing action plan,
The Sunday Times
reports.
The DAD fund, set up by property investor Bill Nowlan, plans to build up to 1,000 apartments a year on land provided by the State to house key-workers struggling to afford rental properties in Dublin. It has reportedly been working on plans for an affordable rental scheme since 2014.
Debenhams
Debenhams Retail Ireland has agreed a rent deal with the US fund Marathon Asset Management, which should help prepare the company to exit examinership. This is reported by both the
Sunday Independent
and
Sunday Times
. Debenhams had applied to the court for a repudiation of leases at four of its stores.
Pursuing Nama
Cork-based property developer Michael O’Flynn is seeking the names and addresses of all those who received confidential information relating to him following the actions of former Nama official Enda Farrell. An order of discovery has been made as part of
High Court
proceedings, the
Sunday Independent
reports. It says both he and his brother are also seeking damages from Nama for breach of confidence, misfeasance in public office and breach of statutory duty.
Gambling
Gambling groups
Rank Group
and 888 Holdings are preparing a shock double bid for William Hill, according to the
Sunday Telegraph
. The paper estimates the ambitious bid for Britain’s biggest bookmaker could cost upwards of £3 billion. It is unclear, it reports, whether the bid will see Rank and 888, which have a combined market value of £1.7 billion, agree to merge.
