washman3 Registered User
#16

MungBean said:
Can they not take them from the wife knowing they were transferred for the sole purpose of avoiding repaying his debts ?

Surely its not as simple as borrow a billion, buy a load of property and then give it to your wife and nobody can do nothing about it.



Yes, could be done tomorrow if only the will to do it was there.
IMO the biggest fear is that these guys will start talking and bring down the whole house of cards by implicating the politicans involved.
Much easier for the government to do a bit of "optics" now and again and take the heat off.

3 people have thanked this post
#17

MungBean said:


Surely its not as simple as borrow a billion, buy a load of property and then give it to your wife and nobody can do nothing about it.


Property is worth up to 60% less now than it was in 2008. The financial come back horse has bolted. It's too late for this. I doubt anything will come from it anyway.

#18

squod said:
Property is worth up to 60% less now than it was in 2008. The financial come back horse has bolted. It's too late for this. I doubt anything will come from it anyway.

Well he does own AIB headquarters. It'd be funny if he kicked them out saying he was going bankrupt

#19

smash said:
Well he does own AIB headquarters. It'd be funny if he kicked them out saying he was going bankrupt


Like to see that meself.

#20

Especially because they sold all their assets and have nowhere else!

2 people have thanked this post
#21

Instead of starting a new thread, I'll add to this one as it's the same topic

The NAMA developer awarded an unauthorised contract to a company controlled by his wife to refurbish D4 Hotels following flood damage in October 2011, according to papers lodged in the High Court.....................

Details of the allegation emerged after a company owned by Ms Killilea sued the banks, claiming it was owed almost €2.5m for carrying out the renovations.

But Zrko, the syndicate of lenders led by Ulster Bank, claims that not only was the contract awarded to Ms Killilea's company Mavior without their knowledge, but the work carried out was also "below standard".


poor Gayle my ar$e, she is as corrupt as he is, Jail them both

4 people have thanked this post
bbsrs Registered User
#22

Our friend Mr Dunne has declared himself bankrupt in the US. Free to start again in a year while we less well connected individuals have to stay and pay for his debts for decades to come. It's a fcuked up world.
http://m.rte.ie/news/touch/2013/0331/379157-sean-dunne-declares-himself-bankrupt-in-us/
http://www.independent.ie/irish-news/people-of-ireland-i-am-truly-sorry-former-baron-of-ballsbridge-sean-dunne-has-filed-for-bankruptcy-in-the-united-states-29165116.html

washman3 Registered User
#23

Will he now have to make the heart-breaking decision of getting rid of his SKY or VHI...?

1 person has thanked this post
BillyMitchel Registered User
#24

Bankrupt and clost to a billion in debt it said today. Assists maybe worth up to 10 million. That's all dollars.

Holy focking shît!!

How greedy and out right stupid do you have to be.

1 person has thanked this post
Montroseee Registered User
#25

Im really beginning to detest that term 'Celtic Tiger.'

washman3 Registered User
#26

MungBean said:
Can they not take them from the wife knowing they were transferred for the sole purpose of avoiding repaying his debts ?

Surely its not as simple as borrow a billion, buy a load of property and then give it to your wife and nobody can do nothing about it.


yes, thats how simple it really is. i kid you not.!! just as long as you had the leader of your country on your side to implement legislation if anything went wrong along the way. the bank guarantee and nama were introduced for one reason and one reason only, to maintain the status quo and protect the crony elite. Never, ever believe anything else.

the culture of deference Registered User
#27

MungBean said:

Surely its not as simple as borrow a billion, buy a load of property and then give it to your wife and nobody can do nothing about it.


This is correct.

Irish couple who built up a €1bn (£800m) portfolio of luxury property, stretching from London to Washington DC and Stockholm, will attempt to file for bankruptcy in London on Thursday.

Brian O'Donnell, a high-profile Dublin corporate lawyer, and his psychiatrist wife, Mary Patricia O'Donnell, are accused of being among the Irish "bankruptcy tourists" fleeing to the UK to use Britain's more lenient bankruptcy laws.

The Irish court battle revealed that the couple, who were once listed as the 178th richest in Ireland, have transferred the ownership of three properties worth an estimated €360m to their four children. Lawyers for the Bank of Ireland dismissed the trusts as a "sham".

The properties transferred to their children include the London residence in Barton Street, Westminster. The property is valued at about £13m, up from the £10.5m the O'Donnells' investment company, Vico Barton.


The couple also spent £194m buying the offices of Sweden's tax authorities in Stockholm.


His practice, however, is not high profile.
He first diversified into serious property business back in 1999 and, with access to funds from a string of banks including Bank of Ireland, Ulster Bank and Anglo-Irish, made his audacious moves in London, Scandinavia and the US.


Other high-profile Irish business people filing for bankruptcy in Britain include David Drumm, a former chief executive of Ireland's "toxic bank", Anglo Irish, and the property developer John Fleming, who was declared bankrupt by Southend crown court with debts of €1bn.

The Bank of Ireland declined to comment. O'Donnell declined to comment about the suggestion that he had transferred millions of pounds' worth of property to his adult children.


Another person who has said he is considering filing for bankruptcy in Britain is the former Irish minister and media personality Ivan Yates. Yates, formerly agricultural minister, is saddled with debts of up to €3.5m following the collapse of the bookmaking firm he set up. This year he described his future as "exceptionally bleak" and "full of uncertainty" as he stood down as the breakfast show host of Ireland's Newstalk radio.

Means Of Escape Registered User
#28

Temptamperu said:
They already had his wife up in court and its been proven shes not a wall flower so the funds may be still there and still receivable.


Dream on
If they couldn't find the paper trail linking Lowry to O Brien you can be sure Dunne has done the same
He will continue to laugh his arse off in his jacuzzi .

#29

MagicSean said:
Some people are never happy.


I suggest you read the post you quoted again and again until you get your head around it

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