How much does Sean Dunne 'owe' you?

johnty56

Just curious about how much Sean Dunne, who filed for bankruptcy in U.S. on Friday, owes the banks, which means how much does he ultimately owe the taxpayer. How much would that debt work out at per man, woman and child in the country?
His comments that he paid 350 million in taxes and so owes us nothing is particularly galling... its a little like a shopkeeper borrowing the money (from us) to buy his stock, selling it and enjoying the profits, going bust and handing the bill to us saying 'but I paid the VAT on it so I owe nowt'

uch

€6.40

Peregrine

Three fiddy

It doesn't really matter, he can never pay it back anyway.

galwayrush

No point in being outraged at something we can't do anything about.

johnty56

It just sticks in my graw thats all.... I mean what kind of fcukwit pays 500 million for a couple of acres.. the guys selling that must still have a good old chuckle

'good ole Sean' they'd say, 'little touched don't you know... did you hear he's going bankrupt in Amerikay'

galwayrush

johnty56 wrote: »

It just sticks in my graw thats all.... I mean what kind of fcukwit pays 500 million for a couple of acres.. the guys selling that must still have a good old chuckle

What galls me is the Bankers who lent him the money get massive salaries and bonuses. He was a chancer, they were the idiots and yet they are rewarded very well for their stupidity.

johnty56

And pretty soon you won't even be able to go on't web and give out about them if Gilmore gets his way..

Cavehill Red

Nimrod 7 wrote: »

Three fiddy
It doesn't really matter, he can never pay it back anyway.

But his wife could pay a whack of it. And it certainly does matter. We're the ones paying for his arrogance and poor gambling decisions.

the groutch

https://www.youtube.com/watch?v=l91ISfcuzDw

galwayrush

johnty56 wrote: »

And pretty soon you won't even be able to go on't web and give out about them if Gilmore gets his way..

**** that ****, if it happens to me, they can have the house, i'll go to the UK and in a year, i'll have my web and SKY sports back.

Peregrine

Cavehill Red wrote: »

But his wife could pay a whack of it. And it certainly does matter. We're the ones paying for his arrogance and poor gambling decisions.

Actually you're right, whatever transactions he made to his wives account should definitely be taken into account in court. He shouldn't be allowed to hide his money and claim bankruptcy. But the rest..

JonathanAnon

I havent checked my accounts recently but I'm pretty sure I owe Sean Dunne a boot up the h0le...

galwayrush

Nimrod 7 wrote: »

Actually you're right, whatever transactions he made to his wives account should definitely be taken into account in court. He shouldn't be allowed to hide his money and claim bankruptcy. But the rest..

Apparently assets and money transfered longer than 18 months cannot be touched. I imagine he's looked after things pretty much in his / wife's favour.

amacca

I dont know how much I'm owed but I have several ideas on how the repayments should be made.

shedweller

galwayrush wrote: »

No point in being outraged at something we can't do anything about.

Which is why they'll get away with it again in 20 odd years!

Cavehill Red

Nimrod 7 wrote: »

Actually you're right, whatever transactions he made to his wives account should definitely be taken into account in court. He shouldn't be allowed to hide his money and claim bankruptcy. But the rest..

They're not living like paupers. When they are, that'll do. I'm not being vindictive. As far as I'm concerned I don't see anything different from his gob****ery and Nick Leeson, and Leeson's still paying back a quarter of everything he earns forever.

galwayrush

shedweller wrote: »

Which is why they'll get away with it again in 20 odd years!

That is absolutely certain.

RobbingBandit

Could be grounds for a class action here, seems though he has gone to the land of retarded legal rulings may be someone should take up the chance to sue this ****er for all he has.

WhatNowForUs?

johnty56 wrote: »

It just sticks in my graw thats all.... I mean what kind of fcukwit pays 500 million for a couple of acres.. the guys selling that must still have a good old chuckle

'good ole Sean' they'd say, 'little touched don't you know... did you hear he's going bankrupt in Amerikay'

The horror of those couple of acres is that as the bidding went in each of the banks involved were hedging their bets and bidding against themself.

AnarchistKen

I'm not condoning what Sean Dunne did but it was a vicious circle of greed and availability of easy credit.

The loan managers in Ulster Bank, BOI and AIB have questions to answer too but they're not being scapegoated today in the media.

Whatever he "owes us" is irrelevant at this point. Let sleeping dogs lie and all that.

AnarchistKen

I'm not condoning what Sean Dunne did but it was a vicious circle of greed and availability of easy credit.

The loan managers in Ulster Bank, BOI and AIB have questions to answer too but they're not being scapegoated today in the media.

Whatever he "owes us" is irrelevant at this point. Let sleeping dogs lie and all that.

amacca

AnarchistKen wrote: »

Let sleeping dogs lie and all that.

Not much of an anarchist are you?

Cavehill Red

The dog ain't sleeping, Ken. He's in the US, doing land deals under his wife's name. (Anyone who believes that he has nothing to do with her bizarre transformation from gossip columnist to major property developer is too gullible to live.)
He still lives in a mansion, still drives a nice car, eats in the best restaurants wearing the nicest suits.
The only people lying down in this scenario is us, Ken, lying down and taking it nice and hard from behind.

Koops80

johnty56 wrote: »

Just curious about how much Sean Dunne, who filed for bankruptcy in U.S. on Friday, owes the banks, which means how much does he ultimately owe the taxpayer. How much would that debt work out at per man, woman and child in the country?
His comments that he paid 350 million in taxes and so owes us nothing is particularly galling... its a little like a shopkeeper borrowing the money (from us) to buy his stock, selling it and enjoying the profits, going bust and handing the bill to us saying 'but I paid the VAT on it so I owe nowt'

He owes a lot of it to ulster bank which is nothing to do with the irish tax payers. Uk tax payers paying for this.

Cavehill Red

Koops80 wrote: »

He owes a lot of it to ulster bank which is nothing to do with the irish tax payers. Uk tax payers paying for this.

If we're not paying for it, how come NAMA are pursuing him through the courts?

true

AnarchistKen wrote: »

The loan managers in Ulster Bank, BOI and AIB have questions to answer too but they're not being scapegoated today in the media.

and our regulator / central bank has a lot to answer for too. Instead those w*****s get away scot free, and rewarded by golden pensions, no stress, like the bankers who lent the money and got the bonuses.
They are all still living in mansions, still driving a nice car, eats in the best restaurants wearing the nicest suits.

TheUsual

I agree it would be nice for him to pay back some of his income for the rest of his life but he was just one guy. The whole setup at the time with zero financial watchdogs and a smug Government boasting to other countries how great they were.

Also Irish people have to take some of the blame individually too. Borrowing ridiculous amounts of money and gambling on land and housing was part of the equation. People like Dunne could not have done what they did without a willing customer (forgetting the high-wealth developers here for the moment).
Yeah hindsight is bitch now, I'm sure a lot of people getting mortgages didn't work out compound interest and loss of earnings when signing on the dotted line. But they do know about the small print now.

true

TheUsual wrote: »

People like Dunne could not have done what they did without a willing customer

Dunne did not have a customer for the Jury's site in Ballsbridge he paid hundreds of millions for.

People like Dunne could not have done what they did without a willing bank manager. The manager still got his salary, bonus and pension.

Cavehill Red

And if this were Iceland many of them would be facing jail.
But what is it AH (and all the other boards) are so fond of telling posters who are irreparably underwater with their mortgages, who are considering jingle mail, or emigration?
Pay your debts? You should have realised what you were borrowing? These are our banks now so you're fiddling the taxpayer?
Why doesn't any of this apply to Sean Dunne too?
After all, he's in the hole for the equivalent of thousands of negative equity mortgages.

MadsL

He owes some of the Ballsbridge residents a portion of thier lives back after they had to fight so hard to stop him shitting all over their backyard - Dublin City Council being completely in bed with his ego-driven shite planned for the area.

Koops80

Cavehill Red wrote: »

If we're not paying for it, how come NAMA are pursuing him through the courts?

Key word in my post is "a lot". From the journal;

Dunne has been pursued by the National Assets Management Agency (Nama) in the civil courts in Connecticut for debts exceeding €150 million. It is thought he may owe Ulster Bank significantly more.

http://www.thejournal.ie/sean-dunne-declares-bankruptcy-in-us-851642-Mar2013/


Nama only covers boi, aib, acc, irish nationwide, ptsb & esb. Banks like ulster bank, bank of Scotland, Halifax, rbs, national irish etc who are not irish owned have nothing to do with nama their losses are nothing to do with the irish tax payers

Death and Taxes

Dunne actually owes us comparativley little most of his debts are with Ulster Bank and other forigen banks.
Not saying I agree with the point he made but what he said was that NAMA are chasing him for €150 million, and he paid over €100 million in personal (not vat or stamp duty or corporate) Taxes alone in Ireland and over €250 million in other taxes so he doesnt feel like he owes Ireland anything.

Death and Taxes

Cavehill Red wrote: »

And if this were Iceland many of them would be facing jail.
But what is it AH (and all the other boards) are so fond of telling posters who are irreparably underwater with their mortgages, who are considering jingle mail, or emigration?
Pay your debts? You should have realised what you were borrowing? These are our banks now so you're fiddling the taxpayer?
Why doesn't any of this apply to Sean Dunne too?
After all, he's in the hole for the equivalent of thousands of negative equity mortgages.

Well they can do what he did and declare bankrupcy, thousands are just waiting for the new insolvency laws to come into force so that the rest of us (the taxpayer) can pick up their tabs too!

dissed doc

galwayrush wrote: »

What galls me is the Bankers who lent him the money get massive salaries and bonuses. He was a chancer, they were the idiots and yet they are rewarded very well for their stupidity.

They are the wealth creators. It was the public sector's fault, remember.

TheVman

His thick head on a stick.
What turns my blood is the thick boggers in my home village who were the stupidest fools in school and just cause uncle willy or cousin paddy was an electrician or worked in the bank these f***ing boggers, then the elite of the village, even coopted into confreries, who built 10 bedroom houses and drove around in touareg v10s in the hayday now owe millions but are still in their 10 bedroom houses... getting debts written off. Someone explain it to me in english ?

johnr1

TheVman wrote: »

His thick head on a stick.
What turns my blood is the thick boggers in my home village who were the stupidest fools in school and just cause uncle willy or cousin paddy was an electrician or worked in the bank these f***ing boggers, then the elite of the village, even coopted into confreries, who built 10 bedroom houses and drove around in touareg v10s in the hayday now owe millions but are still in their 10 bedroom houses... getting debts written off. Someone explain it to me in english ?

Bitterness and jealously, - thats the explanation for you. :pac:

G Power

galwayrush wrote: »

What galls me is the Bankers who lent him the money get massive salaries and bonuses. He was a chancer, they were the idiots and yet they are rewarded very well for their stupidity.

they're all chancers and have practically gotten away scot free out of it. we are a joke of a nation for sitting back and watching it all like a bad soap opera more interested in fighting amongst ourselves than ever mobilising to fight back against private and bankers debts being anything to do with us!!

donegal_road

moral of the story... the people who just lie down and roll over (Sean and Mary and the Ford Fiesta), will end up paying for everything

the culture of deference

galwayrush wrote: »

What galls me is the Bankers who lent him the money get massive salaries and bonuses. He was a chancer, they were the idiots and yet they are rewarded very well for their stupidity.

I remember years ago when the salaries of bank staff were in the news for being too high, the quote "if you pay peanuts you get monkey's" obviously turned out to be incorrect.

Irish Independent, Friday November 09 2012
THE boss of the former Anglo Irish Bank – now IBRC – has robustly defended the €500,000 salaries paid to his top officials.
In an exclusive interview with the Irish Independent, Mike Aynsley said the public should not be "bloody-minded", nor should they believe that "all bankers don't deserve to be paid these high levels".
Mr Aynsley said IBRC was an "easy target" for people who wanted to bash at bankers because it was seen as the bank that took the country down.

Speaking at his headquarters in Dublin, the Australian, who was brought in to sort out the mess of Anglo Irish Bank, said there was a high turnover of staff at the bank and that he needed high salaries in order to keep good staff.
Finance Minister Michael Noonan and Tanaiste Eamon Gilmore have insisted that they will push for lower salaries at IBRC, which is 100pc-owned by the taxpayer.
He warned that the loss of good staff would cost the taxpayer in the long run.
"There is a direct link between the quality of people we have and the recovery of assets.
IBRC's top six executives earn more than €500,000 each.
Mr Aynsley is paid €663,000 -- a €500,000 salary, allowances of €38,000 and a pension sum of €125,000.
The head of IBRC's UK operations, Jim Brydie, is on a salary of £400,000, or €501,000.
Chief financial officer Jim Bradley; head of asset recoveries Tom Hunersen; head of Irish recoveries Mark Layther; and head of specialised asset management Richard Woodhouse, are each paid a salary of about €400,000. They also receive the equivalent of 25pc of their salaries in annual pension payments -- on top of €30,000 each a year in allowances.
Mr Aynsley's outspoken defence came as Michael Noonan, who controls IBRC, said he would continue to push the issue. The Finance Minister has admitted that he asked IBRC's chairman Alan Dukes for wage cuts at the bank, but said his request was turned down.

zom

galwayrush wrote: »

No point in being outraged at something we can't do anything about.

NONSENSE - we can do a lot about it. Anyone. It's just Them want Us to think "we can't do anything about".

Originally Posted by Cavehill Red View Post
And if this were Iceland many of them would be facing jail.

WHY OH WHY nobody else can do like them? What stops people from all other places think and do like Icelanders?
They recently (January) won in European Court against few other ex-bankers and they have clean hands now.
When Irish will get their hands clean?

Cavehill Red

Koops80 wrote: »

Key word in my post is "a lot". From the journal;

Dunne has been pursued by the National Assets Management Agency (Nama) in the civil courts in Connecticut for debts exceeding €150 million. It is thought he may owe Ulster Bank significantly more.

http://www.thejournal.ie/sean-dunne-declares-bankruptcy-in-us-851642-Mar2013/


Nama only covers boi, aib, acc, irish nationwide, ptsb & esb. Banks like ulster bank, bank of Scotland, Halifax, rbs, national irish etc who are not irish owned have nothing to do with nama their losses are nothing to do with the irish tax payers

That 150 million on the other hand has everything to do with the Irish taxpayer. If John and Mary should continue repaying the outstanding debt on a mortgage even after the house is sold at a loss, why shouldn't 'the Baron of Ballsbridge' pay the 150 million? How many carers' respite grants, student grants, nurse's salaries etc are we having to cut to pay for his hubris?