What You Need To Know About The Irish Credit Bureau (ICB)

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What is The Irish Credit Bureau?

The Irish Credit Bureau (ICB), currently the main credit reference agency for individuals in Ireland, complies a database of information supplied by the country’s main financial institutions. The database includes information on a wide range of loans, including personal loans, mortgages and credit card loans.

The ICB does not decide whether or not you get a loan. Financial institutions use the information held by the ICB when deciding whether or not to lend to you.

What does the ICB database include?

The ICB’s database holds information about you if you have had Read more

Posted on September 13, 2016 by Cooney Carey

The Personal Insolvency (Amendment) Act 2015

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Overview

The Personal Insolvency Act 2012 introduced 3 mechanisms for non-judical debt settlement;

  • Debt Relief Notice (“DRN”)
  • Debt Settlement Arrangement (“DSA”)
  • Personal Insolvency Arrangement (“PIA”)

PIA and Secured Debts

Specifically, the PIA was introduced to address debt problems relating to Read more

Posted on August 30, 2016 by Cooney Carey

The Basis for Valuing Your Business

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Over the lifespan of any business, a valuation may be required for a variety of reasons including management buy-outs, shareholder buy-outs, debt restructuring and/or estate planning. A valuation of a business can be of benefit to the seller in advance of the sales process as it gives a realistic and tangible assessment of the valuation of the seller’s shares or interests in a company.

It is now quite common, especially so in the hotel industry that these business sales are conducted on a cash basis. An acquirer especially one in the hotel industry will focus on the company’s EBITDA (Earnings before interest, tax depreciation and amortisation) as a benchmark for the profitability of a business and will as a result base any valuation on a multiple of this measure. Given this knowledge, it is important from the seller’s perspective that Read more

Posted on March 8, 2016 by Des McCann

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