Results 1 to 11 of 11

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

  1. 05-08-2011, 04:38 PM #1
    C. Flower's Avatar
    C. Flower
    C. Flower is online now Administrator
    Join Date
    Feb 2010
    Location
    Rockall
    Posts
    54,018

    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.
    Reply With Quote Reply With Quote
  2. 05-08-2011, 10:33 PM #2
    Holly's Avatar
    Holly
    Holly is offline Senior Member
    Join Date
    Mar 2011
    Location
    Ireland
    Posts
    3,076

    Default Re: Eircom Debt Crisis - May Seek Receivership

    This company was doomed as soon as a few fat cats made their killing.
    Reply With Quote Reply With Quote
  3. 13-03-2012, 07:32 AM #3
    DCon's Avatar
    DCon
    DCon is offline Moderator
    Join Date
    Mar 2010
    Location
    heart of Europe
    Posts
    11,002

    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.
    "The land Coillte Teo is now selling for development was given to them by the State in 1988 to ensure that our woodlands were run commercially, not to enable them to sell the family silver to service bank loans".
    - Friends of the Irish Environment, 28.04.2003
    Reply With Quote Reply With Quote
  4. 13-03-2012, 09:05 AM #4
    Baron von Biffo
    Baron von Biffo is offline Senior Member
    Join Date
    Mar 2010
    Posts
    15,202

    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?
    Reply With Quote Reply With Quote
  5. 13-03-2012, 09:47 AM #5
    TotalMayhem's Avatar
    TotalMayhem
    TotalMayhem is offline Senior Member
    Join Date
    Jul 2010
    Location
    Out of my mind
    Posts
    9,052

    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.
    Reply With Quote Reply With Quote
  6. 13-03-2012, 12:26 PM #6
    Baron von Biffo
    Baron von Biffo is offline Senior Member
    Join Date
    Mar 2010
    Posts
    15,202

    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.
    Reply With Quote Reply With Quote
  7. 23-05-2012, 09:04 AM #7
    C. Flower's Avatar
    C. Flower
    C. Flower is online now Administrator
    Join Date
    Feb 2010
    Location
    Rockall
    Posts
    54,018

    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 ?
    Reply With Quote Reply With Quote
  8. 31-10-2012, 05:27 PM #8
    Dr. FIVE's Avatar
    Dr. FIVE
    Dr. FIVE is online now Moderator
    Join Date
    Nov 2010
    Location
    in the national interest
    Posts
    12,175

    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.
    Reply With Quote Reply With Quote
  9. 31-10-2012, 06:08 PM #9
    PaddyJoe
    PaddyJoe is offline Moderator
    Join Date
    Mar 2010
    Posts
    14,984

    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.
    Reply With Quote Reply With Quote
  10. 31-10-2012, 07:04 PM #10
    Stanley 2
    Stanley 2 is offline Senior Member
    Join Date
    Jun 2012
    Posts
    456

    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.
    Reply With Quote Reply With Quote
  11. 31-10-2012, 07:09 PM #11
    Baron von Biffo
    Baron von Biffo is offline Senior Member
    Join Date
    Mar 2010
    Posts
    15,202

    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.
    http://schlossbiffo.wordpress.com/
    Reply With Quote Reply With Quote
« Previous Thread | Next Thread »

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  

Forum Rules