Developers Paddy McKillen Jnr and Matt Ryan’s Oakmount Company are planning to build a 155-bedroom hotel and leisure complex on a historic site in Birmingham, reports the Sunday Independent. Citing a local report, the newspaper said Oakmount is planning the project at Methodist Central Hall. The hotel will use the developers’ Dean hotel brand and Sophie’s bar and restaurant brand.
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The Sunday Independent also reports that some creditors of collapsed construction company Roadbridge have demanded to see documents relating to the receivership of the firm, which went bankrupt in March, putting more than 1,700 jobs on the line. hazard. Commercial creditors owe €50m but rank behind the €30m in loans from the Bank of Ireland. Now, some creditors have asked Grant Thornton receivers to see the bank loan documents.
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Transport Infrastructure Ireland, the state agency responsible for road construction, has launched a review of its budget over fears it could ‘drop’ some new road projects due to soaring inflation in the transport sector. construction, reports the Business Post. The newspaper’s sources told him that TII was reviewing “how much the current budget can provide”, as the state reviews projects planned under the 165 billion euro National Development Plan.
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“At least a dozen” wealthy Irish taxpayers are seeking settlements with Revenue over a collective tax bill of around €100million linked to the company’s share rights transfer. The Business Post reports that high-income earners sought settlements after Revenue settled with a businessman for around 10% on €2 million in stock rights transfers. There have been disputes over whether these transfers are subject to income tax or whether they are considered capital gains.
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An Post is seeking government approval to take a stake in a new bank-planned and bank-led mobile money transfer app, which is being set up as an alternative to Revolut, reports the Sunday Times. Bank of Ireland, AIB and Permanent TSB are the main drivers behind Synch Payments, which is developing the app to enable instant money transfer. An Post wants to take a small stake as a junior partner.
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The Sunday Times also reports on Irish businessman Patrick Doran, who is expected to turn a $25,000 investment into an $85 million stake in a Nasdaq venture in just 20 months. Doran helped set up a Nasdaq-listed vehicle to seek merger candidates. The vehicle will soon merge with the software company, Telesign, resulting in the transfer of a 5% stake to a company controlled by Doran.
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