Former Anglo Irish Bank chief executive David Drumm has filed a High Court action against Matheson, the law firm that advised the bank on the crisis-era "Maple 10" share deal, reports the Sunday Business Post. Mr Drumm has also commenced action against AIG Europe, which provided directors liability insurance to Anglo.
Larry Goodman to move on Galway Clinic
The Post also reports that Larry Goodman is on the verge of taking control of the Galway Clinic with a €31 million buyout of the stake held by its founder, Jimmy Sheehan. Mr Goodman's stake will rise to 75 per cent when the deals to buy Mr Sheehan's quarter share concludes.
Cerberus to be confirmed as Danske Bank portfolio buyer
The Sunday Times reports that Cerberus, the US private equity company linked to the Project Eagle sale, is expected to be confirmed this week as the buyer of a large portfolio of residential mortgage loans from Danske Bank. The sale, dubbed Project Pluto, is part of Danske's withdrawal from the Irish market.
The Times also reports that Tom Anderson, a member of the family of cinema operators who made up one half of the Ward Anderson nexus, has sold five of his UK cinemas to Cineworld for £94 million (€108 million). The clutch includes the Empire in London's Leicester Square.
The Times also reports that the Government has abandoned its pledge to raise the minimum wage to €10.50 an hour by 2021. The State's Low Pay Commission has become embroiled in a spat with the Government, demanding independence in its work calculating pay rates.
State agencies spent over €1m on leases
More than €1 million has been spent by seven State agencies on leases for unused office accommodation, says the Sunday Independent. The Comptroller and Auditor General has found that amalgamations and staff cuts have left the bodies, including the National Transport Authority and IDA Ireland, with office space that is no longer required.
Fitzpatrick Referrals books sales of €11m
A company owned by Noel Fitzpatrick, the Laois-born star of television series Supervet, booked sales of €11 million last year and profits of €1.1 million, reports the Sunday Independent. Fitzpatrick Referrals, the vet surgery business that is subject of the fly on the wall series, has 113 staff and boosted sales by 43 per cent.
