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Thread: Eircom Debt Crisis - May Seek Receivership: Update - Out of Examinership with 40% haircut of debt

  1. 05-08-2011, 04:38 PM #1
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    Talking Eircom Debt Crisis - May Seek Receivership: Update - Out of Examinership with 40% haircut of debt

    A very timely reminder of the wonders of privatisation -

    a public asset stripped, then stripped again.....

    http://www.independent.ie/business/i...p-2840548.html
    Last edited by C. Flower; 23-05-2012 at 09:04 AM.
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  2. 05-08-2011, 10:33 PM #2
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    Default Re: Eircom Debt Crisis - May Seek Receivership

    This company was doomed as soon as a few fat cats made their killing.
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  3. 13-03-2012, 07:32 AM #3
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    Default Re: Eircom Debt Crisis - May Seek Receivership

    Blackstone Group have offered Eircom150,000,000 to come in and do a bit of asset stripping

    http://www.reuters.com/article/2012/...8ED0WW20120313
    Last edited by DCon; 13-03-2012 at 07:45 AM.
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  4. 13-03-2012, 09:05 AM #4
    Baron von Biffo
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    Default Re: Eircom Debt Crisis - May Seek Receivership

    Quote Originally Posted by DCon View Post
    Blackstone Group have offered Eircom150,000,000 to come in and do a bit of asset stripping

    http://www.reuters.com/article/2012/...8ED0WW20120313
    Are there any asserts left to strip? A few vans on DoneDeal maybe?
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  5. 13-03-2012, 09:47 AM #5
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    Default Re: Eircom Debt Crisis - May Seek Receivership

    Quote Originally Posted by Baron von Biffo View Post
    Are there any asserts left to strip? A few vans on DoneDeal maybe?
    As of July 2011, Eircom have total revenues of €360,000,000 in the bank.
    You recon there's anything left?
    I dropped out of communism class because of lousy Marx.
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  6. 13-03-2012, 12:26 PM #6
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    Default Re: Eircom Debt Crisis - May Seek Receivership

    Quote Originally Posted by TotalMayhem View Post
    As of July 2011, Eircom have total revenues of €360,000,000 in the bank.
    You recon there's anything left?
    €360,000,141 now. Just paid the phone bill.
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  7. 23-05-2012, 09:04 AM #7
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    Default Re: Eircom Debt Crisis - May Seek Receivership

    Well, Eircom has been in to examinership, and is now out again. Bondholders have been subject to severe losses - Senior I believe have been shaved 15%, but junior and unsecured by much, much more, cutting the overall debt by 40%. Eircom is now owned by a very large group of institutions, and proposes (finally) a big high speed broadband project providing services to 1 million customers.

    http://www.independent.ie/business/i...s-3116913.html

    How come the banks weren't able to do something similar ?
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  8. 31-10-2012, 05:27 PM #8
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    Default Re: Eircom Debt Crisis - May Seek Receivership: Update - Out of Examinership with 40% haircut of debt

    Eircom announce 2000 redundancies at six o'clock in evening.
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  9. 31-10-2012, 06:08 PM #9
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    Default Re: Eircom Debt Crisis - May Seek Receivership: Update - Out of Examinership with 40% haircut of debt

    Quote Originally Posted by Dr. FIVE View Post
    Eircom announce 2000 redundancies at six o'clock in evening.
    "intended to seek the redundancies through a voluntary scheme"
    Bob Hope and no hope.
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  10. 31-10-2012, 07:04 PM #10
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    Default Maidir Le: Eircom Debt Crisis - May Seek Receivership: Update - Out of Examinership with 40% haircut of debt

    Be nice and ripe for DOB to steam in on his white charger, he has been sniffing around for years.
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  11. 31-10-2012, 07:09 PM #11
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    Default Re: Maidir Le: Eircom Debt Crisis - May Seek Receivership: Update - Out of Examinership with 40% haircut of debt

    Quote Originally Posted by Stanley 2 View Post
    Be nice and ripe for DOB to steam in on his white charger, he has been sniffing around for years.
    In the event that matters currently before the courts are resolved in his favour he may well have the liquidity needed to further that ambition.
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