Repossession

vienne86

No sympathy for them at all - they've a cheak. They owe the money, won't pay it, so sorry, you have to part with your house. No matter who you are.

Pumpkinseeds

seamus wrote: »

The argument is more likely that his children have a right to roof over their heads, and their family home to remain unviolated until they have grown up.

It's an argument typically used successfully in divorce and bankruptcy cases, but courts are seeing through it more often now, where people are occupying houses because they can't/won't pay the mortgage even though they have more then enough money to afford to live somewhere else.

Their kids are adults and ordinary people with children are evicted when their homes are repossessed. The law should apply to everyone.

Blaise Bambury

All the Golden Circle crowd seem to the same when their number is up ?

Drag the whole thing through the courts ..try and squirrell away as much loot as possible....hang on to their palatial family homes ?.

Plead incompetence ..didn't know what i was signing M'Lud..the HOUSE ? Didn't know I was signing away the HOUSE !

Lies and greed most of it .....

Lollipops23

Pumpkinseeds wrote: »

Their kids are adults and ordinary people with children are evicted when their homes are repossessed. The law should apply to everyone.

So hang on-should I be able to kick up a fuss about the 50quid my dad lost in the bookies in the 1992 Grand National? Seeing as I should be able to inherit it when he kicks the bucket?

Same idiotic and preposterous logic as theirs. Spoilt brats.

Lollipops23

Wait....how did they EVER think they were going to be able to pay off 71million? Surely that's Hollywood money. Not a solicitor, no matter how amazing at his job he is.

nokia69

Lollipops23 wrote: »

Wait....how did they EVER think they were going to be able to pay off 71million? Surely that's Hollywood money. Not a solicitor, no matter how amazing at his job he is.

AFAIK he was investing in property in London and maybe Ireland

in general banks think of property as a good bet since they are lending first to the developer to build the houses/flats

then the banks give out mortgages to wage slave suckers who pay for it all

the smaller loans end up supporting the bigger loans

bjork

He was valued at 1 billion at the height of the boom

SEPT 23 1989

Lollipops23 wrote: »

Wait....how did they EVER think they were going to be able to pay off 71million? Surely that's Hollywood money. Not a solicitor, no matter how amazing at his job he is.

you did not need to even fill out an application for a loan in certain circles

can i get x amount?

yes

sign here

Lollipops23

SEPT 23 1989 wrote: »

you did not need to even fill out an application for a loan in certain circles

can i get x amount?

yes

sign here

And yet I couldn't even higher my credit card limit last year (from 1k to 2k) despite never missing a payment and being a customer of my bank since I was 16.

Huh. :mad:

Pumpkinseeds

Lollipops23 wrote: »

So hang on-should I be able to kick up a fuss about the 50quid my dad lost in the bookies in the 1992 Grand National? Seeing as I should be able to inherit it when he kicks the bucket?

Same idiotic and preposterous logic as theirs. Spoilt brats.

I think you misread my post. I think they should be held to account and subject to the same laws and Joe and Jill bloggs. It makes me angry that the rich can get away with this crap and it sickens me to see these land league twats defending them. They seem to miss the irony of standing outside the locked gates of someone's mansion, the mansion of someone who owes 71 million, and trying to defend their right to sneakily hang on to it by passing it to their kids as some sort of inheritance. That excuse wouldn't work for working class people and it shouldn't work for the rich.

Even the indo don't know how to pluralise anymore


Look at me

look at me

I'm the journalist now

seamus

Jet Black wrote: »

Really because of his occupation. Solicitor was one of the top jobs from a banks perspective and they would give them whatever money they wanted. So say he gets a small enough sum, say 10 million. With this he buys 20 properties, fills them with people to pay his mortgage on each one and he has a nice little portfolio. Repeat this over and over.

Don't even necessarily have to fill the properties and pay the mortgage.

At the height of it, there were finance agreements between bankers and high-flying types like solicitors and accountants where the bank would front up the cash on the understanding that the property would be flipped six months later for a 10-20% profit. Little or no interest payable until the property was sold.

Banks couldn't be seen to get directly involved in the speculation game themselves (since they were already funding the building of these properties), but they could happily throw money at "respectable" people to do it for them.

Anglo of course took this one step further and loaned money to people to buy their shares.

Pumpkinseeds wrote: »

Their kids are adults and ordinary people with children are evicted when their homes are repossessed. The law should apply to everyone.

Ordinary people with children are only evicted if they have the means to live somewhere else. As mentioned above, it's a last resort and someone who cannot afford to rent another property for a family of five won't be evicted by any court.

It's part of the reason why our arrears situation is so bad and why banks aren't following through on repossessions.

Geuze

Lollipops23 wrote: »

Wait....how did they EVER think they were going to be able to pay off 71million? Surely that's Hollywood money. Not a solicitor, no matter how amazing at his job he is.

They were massive property investors.

AFAIK, they owned the largest shopping centre in Stockholm, among many other assets.

stevedublin

Lollipops23 wrote: »

And yet I couldn't even higher my credit card limit last year (from 1k to 2k) despite never missing a payment and being a customer of my bank since I was 16.

Huh. :mad:

In fairness, you would've been able in 2004/5

I thought the general consensus was that the golden circles always got away with it in Ireland and its only ordinary people who were made pay!!

He is fecking ejjit at this stage the house is going to be repossessed one way or another.

Mr.McLovin

RTE:

14.42 The High Court has rejected an application by the O'Donnell children for an injunction to stop the repossession of their Killiney home.

Good!

Falthyron

Tomorrow's headlines should read:

"Ex-rich guy angry. Man loses house after making millions from the same economic system that made him rich. Shockingly, Capitalism has its risks. Unfairness to blame, says now poor man."

ronan45

Reminds me of this fella, anyone know what happened this fella in the end

Brendan & Asta Kelly Killiney Eviction Interview

https://www.youtube.com/watch?v=6t0oPNNzY2Y

Hitchens

"Judge McGovern asked Blake O’Donnell if he understood the order given, telling him: “We can do this the easy way or make this more difficult”. He directed Blake O’Donnell to contact his parents with the court’s decision.


After a 20 minute break, Blake O’Donnell told the court that his parents had said that as they were not party to the proceedings, their position was that there is no order against them.


The judge reiterated the order, and asked if the couple will yield to the receiver or obstruct them. Blake O’Donnell replied that his parents did not accept that the receiver had the right to repossess the house.


Judge McGovern told O’Donnell that as both he and his father are solicitors, they understand the consequences of not complying with a court order.
Blake O’Donnell told the court that his parents will be appealing the court’s decision.


Senior counsel for Bank of Ireland said it had “anticipated this situation might arise” stating that they had “fresh proceedings” against the O’Donnells in the form of trespass proceedings.


Mr Justice McGovern gave Bank of Ireland permission to serve papers for a trespass injunction on the couple and to fix them to the gate of the house if there is no response from the intercom, as there is no postbox.


He ordered the copies of the papers be emailed to the O’Donnells."


http://www.thejournal.ie/high-court-killiney-home-brian-odonnell-1969843-Mar2015/


this is priceless, kid gloves all the way (....and The Journal don't seem to be accepting comments on this one)

vienne86

Delighted this was flung out today. They should just get out of there, because the bank are going to get them out one way or another.

_Kaiser_

This story is farcical and everything that is wrong with this country... worse again that it's headline news on RTE. Why the fook has the Gardai or the Sheriff not been called to turf them out?
Remember those 2 in Castleknock who tried a similar stunt with a house that wasn't theirs? They were thrown out quick enough and rightly so. Why are these 2 different?

Yet another example of the two-tier society in this country.

Lollipops23

I'm delighted that the judge is having none of it.

There have been plenty of families who have had their homes repossessed. It's sad, especially where there are children concerned, but I understand it is a last resort and the banks will normally do their best to work with you on it as much as they can to come to another resolution.

I'm assuming that they did the same with the O'Donnells. The arrogance that they think they can just ignore it is astounding.

chrysagon

o Donnells gambled heavy..greed and all that..and Lost..and cant except it..what makes them so special from other people who have court appearances this week in relation to repossessions!!

darkpagandeath

These lot are the same types that will complain about people on the dole while owing Millions, Is this the same crowd that tried to say the Family home was in the UK to stop that getting repossessed ? Golden circle or not 70 million is not a number you can walk away from. We all went mad greats on this kinda stuff to, this lot owe hundreds of family's amount of debt for mortgages.

darkpagandeath

chrysagon wrote: »

o Donnells gambled heavy..greed and all that..and Lost..and cant except it..what makes them so special from other people who have court appearances this week in relation to repossessions!!

Part of the Irish elite, They can't fathom what went wrong with their greed. They probably think they don't actually owe money back.

Galwayguy35

The fella from the Land League seems to be enjoying his 15 mins of fame in front of the media.

boobar

The more money you owe, the better you're treated.

Owe 160 for TV license go straight to jail

Owe 75 million, well...

chrysagon

Galwayguy35 wrote: »

The fella from the Land League seems to be enjoying his 15 mins of fame in front of the media.

A friend of mine lost their home last summer.. depite trying to negotiate, and LAND LEAGUE no where to be seen, then again it was only 100k outstanding, 3 bed semi , and not in Kiliney..

hatrickpatrick

nokia69 wrote: »

the land league LOL

I doubt that this is what Davitt had in mind

Then what did he have in mind?

hatrickpatrick

Lollipops23 wrote: »

I understand it is a last resort and the banks will normally do their best to work with you on it as much as they can to come to another resolution.

Are you speaking from experience or do you just have blind faith in the good nature of a section of society which has been proven time and time again to be utterly rotten and unethical to its core?