Throwing the book at Dunne; Budget figures and a new mortgage lender

‘Business Today: the best news, analysis and comment from ‘The Irish Times’ business desk

Property developer Sean Dunne, who faces another 10 years in bankruptcy following a High Court hearing. Photograph:  Collins
Property developer Sean Dunne, who faces another 10 years in bankruptcy following a High Court hearing. Photograph: Collins

Property developer Sean Dunne had his bankruptcy extended to just three months short of the 15-year maximum allowed by law after a High Court judge said he was a "deeply dishonest" witness who clearly told lies about a number of matters. Mary Carolan was in court and Simon Carswell reports that a US court found Mr Dunne in contempt of his bankruptcy obligations only last week and gives the background to the case.

Ulster Bank says any small business that feels it was unfairly treated by the bank's controversial restructuring unit when getting into difficulty during the recession must notify it of their claim for compensation by the end of the year. Joe Brennan reports.

Joe also reports that Minister for Finance Paschal Donohoe is expected to appoint international recruitment specialists Korn Ferry to conduct a review of banker's pay in the coming days – 10 years after the crash.

The Minister is also totting the figures for Budget 2019 ahead of his speech next Tuesday, and he got little leeway from the September tax returns that show the Government is still behind forecast although revenues are ahead of last year. Eoin Burke-Kennedy has the details.

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Irish lender Dilosk, which bought the old ICS Mortgages brand back in 2014, says it intends to enter the owner-occupier mortgage market in the first half of next year. Peter Hamilton reports.

It's not what business wants to hear as it tries to plan for the future but Cliff Taylor thinks negotiations on the shape of any Brexit will likely roll on till the eleventh hour...and possibly beyond.

That will provide little cheer to motor industry executives, who were giving ever more pointed warnings about the perils of Brexit at the Paris Motor Show. Michael McAleer is there.

And staying with cars, Aston Martin may have had to lower its ambitions on price slightly ahead of today's London Stock Exchange flotation but a £4.5 billion valuation, with, presumably, some upside as shares start trading could see it become the first carmaker in the FTSE 100 for 30 years in December, especially after Royal Mail's calamitous profit warning, writes Fiona Walsh.

In Commercial Property, Jack Fagan reports that Dunnes Storesis looking at moving out of its landmark Grafton Street store and leasing it to another retailer.

Meanwhile, in a sign of the bullish Dublin economy, estate agent Lisney is looking for in excess of ¤1.6m for a car park it owns cars between Baggot Street and Fitzwilliam Square that can accommodate 32 cars.

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Dominic Coyle

Dominic Coyle

Dominic Coyle is Deputy Business Editor of The Irish Times