Hypo Alpe Adria Bank guarantee, offered a debt hair-cut to buy the senior bonds for 75% face value and 30% face value for subordinated bonds. On 4 August 2016, a private equity fund advised by Bain Capital purchased Heta Asset Resolution Italia S.r.l. (former Hypo Alpe-Adria Leasing S.r.l.) from Heta. During the year, Financial Market Authority also made a debt hair cut using the power as a resolution authority of EU "Bank Recovery and Resolution Directive", making the bad bank had a positive equity for the first time. Hypo Alpe Adria Bank Heta Asset Resolution A.G. is a "bad bank" that was the residual
Corporation tax in the Republic of Ireland which Apple paid an Irish ETR of <1% on €110.8 billion in Irish profits. Despite the loss of taxes to the U.S. exchequer, it was the EU Commission that forced Ireland to close the Double Irish from January 2015; with closure to existing users by 2020. In an October 2013 interview, PwC tax partner Feargal O'Rourke ("architect" of the Double Irish, see above), said that: "the days of the Double Irish tax scheme are numbered". In October 2014, as the EU forced the Irish State to close the Double Irish BEPS tool, the influential U.S. National Tax Journal published an