The Sunday Times reports that the Residential Tenancies Board (RTB) has ruled against Aidan Hall, who owns the property in Palmerstown Park, Dartry, near Rathmines in Dublin 6, which Mr Cosgrave rents for €3,700 a month. Among other things, Mr Hall had alleged that Mr Cosgrave had breached his tenancy agreement by hosting more people than allowed in the house, which he discovered from media reports about the businessman. Mr Cosgrave’s wife, Faye Dinsmore, told The Irish Times in 2019 that the couple shared the house with five other people. But the RTB found that Mr Hall had failed to prove that the house was occupied by more people than Mr Cosgrave and his family. It ultimately ruled that the termination notice served on Mr Cosgrave was “void”.
Doubts about €2 billion data center investment
Both companies began looking for alternatives after the Utilities Regulatory Commission ruled out a moratorium on building new centers last November, but said it reserves the right to impose one in the future if it deems it necessary to “protection security of supply”.
The Revenue is investigating the reduction in taxes paid by property trusts
Revenue Commissioners have launched an investigation into a “dramatic reduction” in tax paid by Irish Real Estate Funds (Irefs), the Business Post reports, after new figures showed the effective rate of tax paid by the funds fell dramatically from 17.9 per cent in 2020 to just 5.9 percent last year. Having pointed out that some Irefs had “behaved aggressively to avoid tax”, Finance Minister Paschal Donohoe increased the tax paid by institutional investors by 171 per cent in the 2020 Budget. The Revenue is now looking at the 2021 figures to “determine the cause of the reduction”, a spokesman told the newspaper. The Treasury, meanwhile, said it was awaiting an update from the Revenue Commissioners on its own investigations into the matter.
Altada’s €40 million profit forecast was questioned
Also in The Business Post, Altada told investors last year it was on track to make annual profits of more than 40 million euros by 2024, according to documents seen by the newspaper. The Cork-based artificial intelligence start-up has faced financial difficulties due to recent staff layoffs and is working to secure bridging funding to bring them back. US company OpticsML has also sued, which claims the Irish company had access to its trade secrets. Altada denies the allegations. However, The Business Post reports that Altada told prospective investors last year ahead of its Series A funding round that the startup would begin generating very strong earnings in 2022 with double-digit earnings growth expected through 2024.
Hibergene’s rebel shareholders
Troubled Irish medical diagnostics company Hibergene has accused a group of rebel shareholders of damaging its value and weakening the company’s negotiating position in talks with potential partners, The Sunday Independent reports. Last month, a group of shareholders held an extraordinary general meeting, at which the company’s performance and strategy were heavily criticized. But the company refused to recognize the meeting as legitimate and, in a briefing to shareholders, said the breakdown had a “damaging effect” on ongoing talks with potential strategic partners. Discussions are aimed at finding a partner to provide working capital to operate the company or a possible “exit” for shareholders, the paper said.
