AIB has pulled financial support to a distressed London-listed firm whose main business is to help troubled borrowers navigate their financial difficulties.
Lancashire-based Fairpoint Group said on Monday that AIBs UK subsidiary had assigned debt it owes the bank to a company called Doorway Capital. Doorway Capital, a specialist provider of capital to law firms, appears mainly interested in shoring up the Fairpoints legal services business, Simpson Millar, and has provided £5 million of working capital to the division.
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Read the full article at: http://www.irishtimes.com/business/financial-services/aib-moves-on-distressed-uk-debt-management-group-1.3142287
