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02/12/2009
Building Halted As Bank Calls In Debt
Social housing schemes in the greater Belfast area has stalled after a bank - recently bailed out by the taxpayer - forclosed on the contractor.
The BBC in NI has reported that the various developments, by Downpatrick-based company Polly Brothers, were funded by Stormont's Department of Social Development.
However, the Ulster Bank has moved against the company and work has stopped on three out of four of its sites.
The sites affected are at North Howard Street in west Belfast, Gleneagles Gardens at Dundonald and Brookhill Avenue in north Belfast.
According to administrators, PwC, Polly Brothers' development at Clonard is the only one where work is continuing.
The Gleneagles, Brookhill and North Howard Street developments are being built for the Helm Housing Association.
PwC said it was trading the company in administration.
It said work would not resume on the three Helm sites until it reached agreement with the housing association as to how the buildings would be finished and the outstanding work paid for.
The BBC has been unable to get a comment from Pollys and the BBC reported last night that Ulster Bank refused a request from the company to give them more time to sort out its finances.
Last month, Chancellor Alistair Darling was forced to defend government plans to inject a further £30 billion of public money into two troubled banks — insisting the taxpayer was getting a "better deal".
He said that progress was being made in the recovery of beleaguered banking giants Royal Bank of Scotland and Lloyds as he confirmed plans to give them more public cash in return for significant restructuring.
The already part-nationalised RBS, which owns Ulster Bank, will get anther £25.5bn from the government in the move which was forced on the banks to appease European competition fears.
(BMcC/KMcA)
The BBC in NI has reported that the various developments, by Downpatrick-based company Polly Brothers, were funded by Stormont's Department of Social Development.
However, the Ulster Bank has moved against the company and work has stopped on three out of four of its sites.
The sites affected are at North Howard Street in west Belfast, Gleneagles Gardens at Dundonald and Brookhill Avenue in north Belfast.
According to administrators, PwC, Polly Brothers' development at Clonard is the only one where work is continuing.
The Gleneagles, Brookhill and North Howard Street developments are being built for the Helm Housing Association.
PwC said it was trading the company in administration.
It said work would not resume on the three Helm sites until it reached agreement with the housing association as to how the buildings would be finished and the outstanding work paid for.
The BBC has been unable to get a comment from Pollys and the BBC reported last night that Ulster Bank refused a request from the company to give them more time to sort out its finances.
Last month, Chancellor Alistair Darling was forced to defend government plans to inject a further £30 billion of public money into two troubled banks — insisting the taxpayer was getting a "better deal".
He said that progress was being made in the recovery of beleaguered banking giants Royal Bank of Scotland and Lloyds as he confirmed plans to give them more public cash in return for significant restructuring.
The already part-nationalised RBS, which owns Ulster Bank, will get anther £25.5bn from the government in the move which was forced on the banks to appease European competition fears.
(BMcC/KMcA)
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New bank notes have been released into circulation in Northern Ireland. The £10 and £20 notes are being issued from Danske Bank and will gradually replace the existing Northern Bank notes. The design of the notes remains the same, the only difference is the Danske Bank logo has replaced the Northern Bank logo.
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Northern Bank To Be Rebranded
Danske Bank has announced a new organisational set-up for its operations in Northern Ireland and Ireland. The new structure will take effect on 1 June 2012. The re-organisation mirrors a similar Group wide set-up being introduced in all Danske Bank operations.
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Danske Bank has announced a new organisational set-up for its operations in Northern Ireland and Ireland. The new structure will take effect on 1 June 2012. The re-organisation mirrors a similar Group wide set-up being introduced in all Danske Bank operations.
03 January 2007
Bank robbery charges dropped
The County Down man accused of the £26 million Northern Bank robbery in 2004, has had the charges against him dropped. Dominic McEvoy, 23, a builder from Mullandra Park in Kilcoo, was not present in Belfast Magistrates Court during the hearing.
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The County Down man accused of the £26 million Northern Bank robbery in 2004, has had the charges against him dropped. Dominic McEvoy, 23, a builder from Mullandra Park in Kilcoo, was not present in Belfast Magistrates Court during the hearing.
07 January 2005
Consequences ‘dire and grim’ says Robinson
The consequences for Sinn Féin will be “dire and grim” if Chief Constable Hugh Orde confirms IRA involvement in the £22 million Northern Bank robbery last month, said DUP deputy leader Peter Robinson.
Consequences ‘dire and grim’ says Robinson
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15 June 2004
Families return home following gas leak
Around 50 families have returned home after a gas leak in the Springfield Road area of west Belfast was repaired on Tuesday. Families in and around the area had been forced to leave their homes as fire crews investigated the leak close to New Barnsley police station.
Families return home following gas leak
Around 50 families have returned home after a gas leak in the Springfield Road area of west Belfast was repaired on Tuesday. Families in and around the area had been forced to leave their homes as fire crews investigated the leak close to New Barnsley police station.
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Northern Ireland WeatherToday:The day will be very windy with strong to gale force westerly winds becoming occasionally severe along the north coast. Sunny spells will be interspersed with scattered showers. Maximum temperature 8 °C.Tonight:West to northwest gale force winds, severe along the north coast, will continue overnight. Frequent showers persist, merging into longer periods of rain at times and turning wintry. Minimum temperature 1 °C.
