Dublin finance firm falls victim to credit crunch

The Dublin finance company that collapsed due to the volatility of global credit markets ‘‘persisted in engaging in transactions/ trades with other counterparties despite its undoubted insolvency’’, it was claimed in the High Court last Friday.

18th August, 2007

The Dublin finance company that collapsed due to the volatility of global credit markets ‘‘persisted in engaging in transactions/ trades with other counterparties despite its undoubted insolvency’’, it was claimed in the High Court last Friday.

A provisional liquidator, Simon Coyle of Mazars, was appointed to Structured Credit Company (SCC) on Friday after the High Court was told that its debts jumped from $5 million at the start of July to...

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