My previous boss, 25 so employees, 9 years trading, was asked to put his and two other directors houses up for collateral for a 'high-street' Irish bank to extend the business banking facility.
I'm talking about sums less than 20 grand and before the bust. Is that the case with your ex-boss?
As many people thought would happen. It appears that the sheriff turned up when there was no one there and continued with the eviction, so the thread title should really be "people power slightly delays eviction"
My god, he hasn't paid a red cent towards the property (of which the dole would probably easily cover repayments) in years. What does he expect?
More the fools who went to stand up for him.
edit: And I also see 'The Journal' makes no mention of the amount owed and the amount of time passed without payment.
URGENT - The SHERIFF BROKE IN ASSISTED BY GARDI and CHANGED THE LOCKS!
^^ on youtube video.
More freeman ****e
Oh hell no. Thats feudalism. As legal mod you know this. You do own your home and the lender retains a security interest in your home (in the form of amortgage lien).
From a purely practical point of view, there are disadvantages to this as with the property market bottomed out the way it currently is, the lender usually prefers to restructure the debt and use the lien for negotiating leverage. But if there is no realistic prospect of ever fulfilling the terms of the loan then it may seize the property. That in itself is expensive in legal fees, auctioneers fees and the lender has to hold a physical asset that is worth far less than the loan and which is extremely difficult to sell. At that point it really sucks for everyone involved but it sucks more for whoever is losing their home. Every one of these people will have unique personal circumstances so I cannot and will not tar all defaulters with a broad brush. Some people's personal circumstances will be more sympathetic to the public than others.
What you described is called feudalism. Nevertheless, anyone who doesn't acknowledge the tragedy in this for the people getting evicted has no idea what its like to be hounded by solicitors. No idea what its like to live between county registrar court dates and have every aspect of your personal finances blown wide open for all in open court to see. No idea what its like to experience such a sudden and dramatic shift in the quality of your life.
Can anyone confirm just what are the details on this?
He hasn't been paying a cent since June 2006. Also, he tried to argue with the judge that the bank, in fact, had no right to the deeds of the house based on an argument straight out of Zeitgeist!
He's a bloody chancer. I would advise anyone on this guy's side to at least question his motives.
Ouch. Lay litigant botches his own case by running out statutory time limit to appeal the original repo order then presses for discovery when its irrelevant.
I kind of wish he had a solicitor who wouldn't allow that to happen, but in so many respects, it seems that money = access. Its Mr. Justice Peart though, and he is well aware of the problem of money and access in the legal profession at least. He spoke about it at a seminar in Ballina not too long ago.
I can't believe people are attempting to defend this man. He hasn't paid a cent towards his home since 2006, before the world went arseways and while Ireland was neck deep in euros.
Chancing arsehole who deserves to be tossed out.
Is it clear as to whether both loans on the property were from the same lender (UBL)
Are there any interviews with this unfortunate fellow,I'd like to hear him speak ....