Threshold for debt forgiveness rises to €35,000
The Irish Times reports this morning that the Insolvency Service of Ireland is raising the level of unsecured debts that certain borrowers can write off completely from €20,000 to €35,000.
Qualifying borrowers will be able to write off debts up to this new maximum level, without any interference by creditors such as banks if they are granted a Debt Relief Notice by the Insolvency Service.
A key provision involves a three-year period during which their everyday living expenses are supervised.
As part of an overhaul of its programme and processes, the Insolvency Sercice also says it will have representatives present in every property repossession court sitting across the State, and those sittings are now beginning to ramp up.
The number of debt restructuring arrangements approved by the ISI since it commenced operations two years ago has been very low at under 1,000.
Digicel, the first mobile operator to block Google/Facebook ads?
Digicel, which is expected to float on the New York Stock Exchange, in the coming days, has become the first mobile phone operator, globally, to block ads from the likes of Google/ Facebook, on phones and other mobile devices.
Digicel wants to force the global web companies to share these advertising revenues and is working with an Israeli start-up company, Shine, whose software prevents delivery of display and video ads to mobile browsers/apps.
Digicel and Denis O’ Brien have been threatening for some time to take on this fight, accusing the Googles and Facebooks of this world of effectively piggy-backing for free on the infrastructure investment of mobile operators and of absorbing much of the bundles of broadband time sold to subscribers, which could otherwise generate revenues for the operator
Digicel has more than 13 million subscribers in 13 countries across the Carribbean and South Pacific regions. The blocking process will begin in Jamaica, one of the company’s largest markets, and then to other markets
Students and NAMA for Dublin’s north docklands
Planning permission has been submitted to build Dublin’s largest off campus student accommodation complex, close to the Three Arena and the East Link Bridge in Dublin’s north docklands.
Planning for the complex, which would host close to 1,000 students, is being sought jointly by NAMA, CIE and the receivers to the owners of the site.
The project is the latest in a spate of planned, privately-funded student accommodation centres close to Dublin city centre. The Higher Education Authority recently reported that Dublin universities have a combined student population of close to 80,000 but can only accommodate about 6,000 in their own on-campus units.
Meanwhile it’s reported that the National Treasury Management, which includes NAMA, is likely to move to offices beside the new Central Bank in the North Docklands, within the next two years.
Munster Rugby Chief hits out at Government Capital Plan omission
The Chief Executive of Munster Rugby, Garrett Fitzgerald, has criticised the Government’s failure to upgrade the N20, Cork Limerick road to motorway status, in its six-year capital plan, published this week.
Mr Fitzgerald said his business – which employs 140 people and which had a turnover of €14m last year – and many other businesses in the Munster region would suffer because of the decision.
He tells the Irish Examiner this morning that Cork and Limerick are the only two main cities in the country not connected by motorway and that it was easier for him to schedule a meeting in Portlaoise than to travel to Limerick from Cork.
He also said the proposed M20 was a vital piece of infrastructure if Ireland was successful with its planned bid for the Rugby World Cup in 2023.
