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Strokestown **Mod Note in Post #4461**
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Some borrowers have been given write downs on their debts....they just don't get to keep the asset as well just like the shareholders were wiped out.Deleted User wrote: »The Attorney General’s Office warned the Government it could not prevent a likely repayment of almost €270 million owed to a group of junior bondholders in the failed lender Anglo Irish Bank.
https://www.irishtimes.com/business/financial-services/repayment-to-junior-anglo-bondholders-unpreventable-said-ag-1.3736069?mode=amp
Evictions due to terrible lending practices are unavoidable however! Why were banks given a write down on their terrible lending but the borrowers weren't?
Edit: You do realise that the example you gave is a consistent argument for having your assets seized to pay your debts. the banks debt was paid but the previous owners lost everything (shareholders), this mans debts will be paid but he looses the land.0 -
cameramonkey wrote: »It cost to evict, the asset will be impossible to sell, so worthless.
They should cut their losses and give it back, game over.
Do you understand that if a bank just decided to cut their losses and give it back, it would mean everyone who has a mortgage could just sit tight and not pay?
Is it really that difficult to understand?0 -
One wonders if these lads , sent home with their tails between the legs would be the same buckos we seen recently deployed on the streets of Dublin, ala Frederick street?
Black paramilitary style uniform. Check.
Northern accents. Check.
Northern/UK registered vans. Check.
I could be wrong, but I don't think they'll be in any hurry to take up anymore job offers of easy money in the 26 counties again. Certainly not without considerable police and or army protection.
Undoubtedly, your man seems to have racked up a lot of debt, including a large chunk to revenue, and the debt needed to be recovered, which leaves the big question as to the appropriate method of achieving this.
What options are open to revenue officials here? Aren't we often told that they have much further powers than even AGS have?
A lien on the estate, recovered when they transfer the deeds/attempt to sell?
Rural communities form deep connections, and any potential new owners of the properties life could be made hell - if they were to take a view that they acquired the property to the detriment of one of their own , cute hoor or not (see Sean Quinn's former empire) meaning the bank are stuck with it regardless.
And to top it off, aren't the family back in the property, meaning the eviction by a gang of people who identified themselves as British with northern accents, some with UDR connections, wasn't just futile, but in fact possibly counter productive?
I don't claim to have the answers or solutions to this particular problem, but the strokes town solution surely isn't it.0 -
Sycamore Tree wrote: »Does the fact that he is a retired guard make it worse somehow? Martin Callinan is a retired guard and should be locked up.
Should they pay Revenue or are the taxpayers victims?
The retired Garda is the borrower's friend.
The borrower had other people present at the eviction.0 -
Press Release
“
LATEST NEWS FROM ROSCOMMON EVICTION
The following is a Press Statement being released through Matt Carty MEP who was raised as a child down the road from the Mc Gann family and has remained a personal friend of the family to the present day. Through Matt, every newspaper, radio station and TV station in the country have received it by now and the question is how many of them will mention it!
Press release from the Mc Gann family
The McGann family from Strokestown, County Roscommon, who were subjected last week to a forced eviction by a Northern Ireland based security firm acting on behalf of KBC Bank, have issued a statement in response to the deeply distressing events they have been forced to endure over recent days.
“Our family has been overwhelmed by the levels of support we have received and we wish to pay special thanks to our neighbours and friends who have greatly helped us during a very traumatic time. We would also like to pay tribute to the people from across the four corners of Ireland whose sympathy and solidarity has been of great assistance in our time of need and to the people who travelled long distances to stand in solidarity with us.
“The forced eviction from our home has left our family shocked by unforeseen events that were thrust upon us. Our ordeal has been further compounded by the inaccurate and ill-informed media coverage of our eviction, and the subsequent events that have occurred. We wish to make clear we condemn all forms of violence and want to see the rule of law upheld but we have also been deeply upset by the use of inflammatory language that has characterised much of the media reportage.
“We believe our plight has been exploited by some wishing to further their own narrow agendas and we were particularly disappointed at comments made by An Taoiseach Leo Varadkar during Leaders’ Questions in the Dáil. His remarks,” we believe, “are a deliberate attempt to deflect attention from some of the very serious issues relating to our eviction. He has yet to adequately respond to the actions of unidentified security personnel who forcibly, and with considerable violence, removed our family from our home in front of a massive Garda presence that oversaw the eviction nor has he responded to concerns about the legality of the eviction notice.”
The McGanns have asked the Taoiseach to refrain from making comments that further compound their distress and in conclusion to their statement they say their case is with two firms of solicitors who are now acting on their behalf and that matters relating to their eviction will be heard before the courts in due course. Meanwhile they appeal for their privacy to be respected as they resume their preparations for Christmas. As this is now a legal matter the Mc Gann family or anybody connected to them will be making no further comments as it may be prejudicial to future legal proceedings.
NOTE TO EDITORS: The Mc Gann family have released their statement through their friend and neighbour Matt Carthy”
https://www.facebook.com/anna.kavanagh.102/posts/10216333480516943?__tn__=K-R0 -
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[Deleted User] wrote: »Press Release
“
LATEST NEWS FROM ROSCOMMON EVICTION
The following is a Press Statement being released through Matt Carty MEP who was raised as a child down the road from the Mc Gann family and has remained a personal friend of the family to the present day. Through Matt, every newspaper, radio station and TV station in the country have received it by now and the question is how many of them will mention it!
Press release from the Mc Gann family
The McGann family from Strokestown, County Roscommon, who were subjected last week to a forced eviction by a Northern Ireland based security firm acting on behalf of KBC Bank, have issued a statement in response to the deeply distressing events they have been forced to endure over recent days.
“Our family has been overwhelmed by the levels of support we have received and we wish to pay special thanks to our neighbours and friends who have greatly helped us during a very traumatic time. We would also like to pay tribute to the people from across the four corners of Ireland whose sympathy and solidarity has been of great assistance in our time of need and to the people who travelled long distances to stand in solidarity with us.
“The forced eviction from our home has left our family shocked by unforeseen events that were thrust upon us. Our ordeal has been further compounded by the inaccurate and ill-informed media coverage of our eviction, and the subsequent events that have occurred. We wish to make clear we condemn all forms of violence and want to see the rule of law upheld but we have also been deeply upset by the use of inflammatory language that has characterised much of the media reportage.
“We believe our plight has been exploited by some wishing to further their own narrow agendas and we were particularly disappointed at comments made by An Taoiseach Leo Varadkar during Leaders’ Questions in the Dáil. His remarks,” we believe, “are a deliberate attempt to deflect attention from some of the very serious issues relating to our eviction. He has yet to adequately respond to the actions of unidentified security personnel who forcibly, and with considerable violence, removed our family from our home in front of a massive Garda presence that oversaw the eviction nor has he responded to concerns about the legality of the eviction notice.”
The McGanns have asked the Taoiseach to refrain from making comments that further compound their distress and in conclusion to their statement they say their case is with two firms of solicitors who are now acting on their behalf and that matters relating to their eviction will be heard before the courts in due course. Meanwhile they appeal for their privacy to be respected as they resume their preparations for Christmas. As this is now a legal matter the Mc Gann family or anybody connected to them will be making no further comments as it may be prejudicial to future legal proceedings.
NOTE TO EDITORS: The Mc Gann family have released their statement through their friend and neighbour Matt Carthy”
https://www.facebook.com/anna.kavanagh.102/posts/10216333480516943?__tn__=K-R
Yeah, must have been a huge surprise that after 15 years non-payment and a court order to leave, they were expected to y'know....... Leave.....0 -
BalcombeSt4 wrote: »but if your born in Ireland you are Irish, full stop.
Not full stop if you respect the The Good Friday Agreement, which says it is the birthright of all the people of Northern Ireland to identify themselves and be accepted as Irish or British, or both, as they may so choose, and accordingly [the two governments] confirm that their right to hold both British and Irish citizenship is accepted by both Governments and would not be affected by any future change in the status of Northern Ireland.
That's the actual fact. Some people also identify as just Northern Irish. It's not as simplistic as it has been made out on here at all but that doesn't seem to matter at times. The results of the last census give a an insight. Some very interesting, complex and surprising answers on it.0 -
Johnny Dogs wrote: »One wonders if these lads , sent home with their tails between the legs would be the same buckos we seen recently deployed on the streets of Dublin, ala Frederick street?
Black paramilitary style uniform. Check.
Northern accents. Check.
Northern/UK registered vans. Check.
I could be wrong, but I don't think they'll be in any hurry to take up anymore job offers of easy money in the 26 counties again. Certainly not without considerable police and or army protection.
Undoubtedly, your man seems to have racked up a lot of debt, including a large chunk to revenue, and the debt needed to be recovered, which leaves the big question as to the appropriate method of achieving this.
What options are open to revenue officials here? Aren't we often told that they have much further powers than even AGS have?
A lien on the estate, recovered when they transfer the deeds/attempt to sell?
Rural communities form deep connections, and any potential new owners of the properties life could be made hell - if they were to take a view that they acquired the property to the detriment of one of their own , cute hoor or not (see Sean Quinn's former empire) meaning the bank are stuck with it regardless.
And to top it off, aren't the family back in the property, meaning the eviction by a gang of people who identified themselves as British with northern accents, some with UDR connections, wasn't just futile, but in fact possibly counter productive?
I don't claim to have the answers or solutions to this particular problem, but the strokes town solution surely isn't it.
I'd say you're right there,who in their right mind would buy the property after this fiasco.
It's a perfect storm really.0 -
nice_guy80 wrote: »wow.
take off the FG hat.
what Varadkar said in the Dail yesterday was a disgracewow.
take off the SF hat.
what Doherty said in the Dail yesterday was a disgrace
...and what Varadkar said was spot on0 -
Johnny Dogs wrote: »One wonders if these lads , sent home with their tails between the legs would be the same buckos we seen recently deployed on the streets of Dublin, ala Frederick street?
Black paramilitary style uniform. Check.
Northern accents. Check.
Northern/UK registered vans. Check.
I could be wrong, but I don't think they'll be in any hurry to take up anymore job offers of easy money in the 26 counties again. Certainly not without considerable police and or army protection.
Undoubtedly, your man seems to have racked up a lot of debt, including a large chunk to revenue, and the debt needed to be recovered, which leaves the big question as to the appropriate method of achieving this.
What options are open to revenue officials here? Aren't we often told that they have much further powers than even AGS have?
A lien on the estate, recovered when they transfer the deeds/attempt to sell?
Rural communities form deep connections, and any potential new owners of the properties life could be made hell - if they were to take a view that they acquired the property to the detriment of one of their own , cute hoor or not (see Sean Quinn's former empire) meaning the bank are stuck with it regardless.
And to top it off, aren't the family back in the property, meaning the eviction by a gang of people who identified themselves as British with northern accents, some with UDR connections, wasn't just futile, but in fact possibly counter productive?
I don't claim to have the answers or solutions to this particular problem, but the strokes town solution surely isn't it.
Revenue could freeze any assets he has (no funding to buy, any proceeds of sales go towards the debt), he could be struck off any directorships he has (for example if the VAT under-declaration was by a company he sat on the board of) and further restricted from becoming a director for many years into the future, his credit score in general will be shot where any of his suppliers do credit scoring, and he could be facing penalties up to and including jail time.
Short term it might seem this process as being counter-intuitive.
Long term, I can see a lot of the support actually being a massive own goal:
- The property is now smashed to bits by all accounts, who will pay for the repairs if the family ultimately do remain in the property?
- The debt as it stood before eviction remains outstanding in full
- Additional costs of security, damages, losses, etc. will likely be added on top of the existing debt
- Banks will be considering lending of this type to this particular segment of the market in far more scrutiny leading to greater difficult in accessing credit to everyone, even the ordinary people who pay their way
- No bank will want to be involved in repossessions after the last week's outcome, expect far more of these non-performing loans to be sold off to these so-called vulture funds much, much earlier in the process than has been to date
- Expect processes and regulations to be devised (a good thing) to ensure evictions and repossessions occur in a formal and regulated manner (potentially a bad thing - because expect repossessions to happen sooner {months, not years}, quicker {hours, not days} and more stringently {black and white timelines, not on a per-case basis} than they have to now)0 -
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Seems like politics in the South are becoming as bad as the North.
Leo had a relevant question put to him, during leaders questions, and with a simple click bait soundbite he has everyone distracted and eating out of the palm of his hand.
The true point forgotten its now all about SF/IRA promote vigilante violence.
I'll never vote for SF in my life, but I have to laugh at the plaudits Leo gets for doing nothing. Have to hand it to him... he is a PR genius.0 -
Frank Castle wrote: »Seems like politics in the South are becoming as bad as the North.
Leo had a relevant question put to him, during leaders questions, and with a simple click bait soundbite he has everyone distracted and eating out of the palm of his hand.
The true point forgotten its now all about SF/IRA promote vigilante violence.
I'll never vote for SF in my life, but I have to laugh at the plaudits Leo gets for doing nothing. Have to hand it to him... he is a PR genius.
I applaud him for having the guts to put it up to SF and their hypocrisy.
They get away with too much.0 -
Wheeliebin30 wrote: »Funny how these stories become a little clearer once you dig a bit.
See Margaret Cash, see Erica Fleming.
I’ve never been more convinced of my belief that these people are only to blame for their situation and it’s not the governments fault one bit.
I think it is because honest decent people do their best and don't have an entitlement culture which all these ones so beloved of the lefty brigade.Deleted User wrote: »Press Release
“
LATEST NEWS FROM ROSCOMMON EVICTION
The following is a Press Statement being released through Matt Carty MEP who was raised as a child down the road from the Mc Gann family and has remained a personal friend of the family to the present day. Through Matt, every newspaper, radio station and TV station in the country have received it by now and the question is how many of them will mention it!
Press release from the Mc Gann family
The McGann family from Strokestown, County Roscommon, who were subjected last week to a forced eviction by a Northern Ireland based security firm acting on behalf of KBC Bank, have issued a statement in response to the deeply distressing events they have been forced to endure over recent days.
“Our family has been overwhelmed by the levels of support we have received and we wish to pay special thanks to our neighbours and friends who have greatly helped us during a very traumatic time. We would also like to pay tribute to the people from across the four corners of Ireland whose sympathy and solidarity has been of great assistance in our time of need and to the people who travelled long distances to stand in solidarity with us.
...
NOTE TO EDITORS: The Mc Gann family have released their statement through their friend and neighbour Matt Carthy”
https://www.facebook.com/anna.kavanagh.102/posts/10216333480516943?__tn__=K-R
If only they were as willing to pay their debts they won't be in this position. :rolleyes:0 -
Frank Castle wrote:I'll never vote for SF in my life, but I have to laugh at the plaudits Leo gets for doing nothing. Have to hand it to him... he is a PR genius.
Can't be that much of a genius when his personal popularity is slipping according to recent polls. Deflection and sneering only works for so long.0 -
martingriff wrote: »The "This is my Land" mentality of The Field apparently
Don't think so little of us.
We are not ungovernable.0 -
Wheeliebin30 wrote: »I applaud him for having the guts to put it up to SF and their hypocrisy.
They get away with too much.
Now I am originally from the north, protestant and a moderate unionist (not afraid of a UI) and i'm an alliance voter in the north (not decided yet down south who I would vote for). So bear in mind I come from a different perspective/lack of knowledge.
But that said, I don't understand the hate the most people down south have for SF. where does this stem from? is it their links to the IRA? if so, what is the difference between them and FF/FG. they all have links to that type of past.
I believe FG even have facist & anti semitic links in their past?
Does SF get unfairly treated with their past compared to the others? and if so, why?
(not defending SF here, but I honestly can't see the difference between the 3 parties, and as far as I can tell FF/FG may as well be the one party)0 -
Frank Castle, exactly the questions on my mind too. From reading opinions of SF on boards from the past few years, there is an association with SF still being an IRA party and supporters of SF to be supporters of IRA & violent behaviour. Just like Varadkar tarred Doherty with that brush yesterday..0
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[Deleted User] wrote: »Press Release
“
LATEST NEWS FROM ROSCOMMON EVICTION
The following is a Press Statement being released through Matt Carty MEP who was raised as a child down the road from the Mc Gann family and has remained a personal friend of the family to the present day. Through Matt, every newspaper, radio station and TV station in the country have received it by now and the question is how many of them will mention it!
Press release from the Mc Gann family
The McGann family from Strokestown, County Roscommon, who were subjected last week to a forced eviction by a Northern Ireland based security firm acting on behalf of KBC Bank, have issued a statement in response to the deeply distressing events they have been forced to endure over recent days.
“Our family has been overwhelmed by the levels of support we have received and we wish to pay special thanks to our neighbours and friends who have greatly helped us during a very traumatic time. We would also like to pay tribute to the people from across the four corners of Ireland whose sympathy and solidarity has been of great assistance in our time of need and to the people who travelled long distances to stand in solidarity with us.
“The forced eviction from our home has left our family shocked by unforeseen events that were thrust upon us. Our ordeal has been further compounded by the inaccurate and ill-informed media coverage of our eviction, and the subsequent events that have occurred. We wish to make clear we condemn all forms of violence and want to see the rule of law upheld but we have also been deeply upset by the use of inflammatory language that has characterised much of the media reportage.
“We believe our plight has been exploited by some wishing to further their own narrow agendas and we were particularly disappointed at comments made by An Taoiseach Leo Varadkar during Leaders’ Questions in the Dáil. His remarks,” we believe, “are a deliberate attempt to deflect attention from some of the very serious issues relating to our eviction. He has yet to adequately respond to the actions of unidentified security personnel who forcibly, and with considerable violence, removed our family from our home in front of a massive Garda presence that oversaw the eviction nor has he responded to concerns about the legality of the eviction notice.”
The McGanns have asked the Taoiseach to refrain from making comments that further compound their distress and in conclusion to their statement they say their case is with two firms of solicitors who are now acting on their behalf and that matters relating to their eviction will be heard before the courts in due course. Meanwhile they appeal for their privacy to be respected as they resume their preparations for Christmas. As this is now a legal matter the Mc Gann family or anybody connected to them will be making no further comments as it may be prejudicial to future legal proceedings.
NOTE TO EDITORS: The Mc Gann family have released their statement through their friend and neighbour Matt Carthy”
https://www.facebook.com/anna.kavanagh.102/posts/10216333480516943?__tn__=K-R
What a load of bullsh1t. Typical SF trying to stoke the emotions rather than providing any facts. Not one mention of the debts they owe. From what I’ve read they owe the revenue over 400k, KBC over 300k and at least 18k to local businesses stretching back to 2004. How was it a surprise they were being evicted? Not one mention of the sheriff giving them the date and time twice before the eviction. Why were the family friends in the property except to try prevent the eviction.0 -
Frank Castle, exactly the questions on my mind too. From reading opinions of SF on boards from the past few years, there is an association with SF still being an IRA party and supporters of SF to be supporters of IRA & violent behaviour. Just like Varadkar tarred Doherty with that brush yesterday..
Truth hurts sometimes0 -
What a load of bullsh1t. Typical SF trying to stoke the emotions rather than providing any facts. Not one mention of the debts they owe. From what I’ve read they owe the revenue over 400k, KBC over 300k and at least 18k to local businesses stretching back to 2004. How was it a surprise they were being evicted? Not one mention of the sheriff giving them the date and time twice before the eviction. Why were the family friends in the property except to try prevent the eviction.
Is anyone actually arguing against the eviction? rather than the methods used during the eviction?
I know from my time working in England, that a sheriff is to only use physical force to defend themselves or the public. With the idea being to talk someone around to leaving, failing that they wait them out, as soon as the leave the property they move in and take control of it. At the end of the day, no one can remain in their house forever.0 -
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I think it’s time the McCanns stopped listening to political people who only have their own aims and interests in mind, and got independent legal and financial advice and act on it. At the end of the day, MEPs and internet social justice warriors don’t care a fig about about them.0
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simongurnick wrote: »Sad to see after everything Ireland has gone through after the last few years, that so many people automatically lean to the side of the banks/government/establishment. Will we ever learn?
Eh no we lean to the side of honest decent people.
So where do you stand on people not paying the VAT due to the state?
You do know how VAT works, right ?
You pay VAT on top of your purchase, be it goods or services.
Then that VAT is meant to be paid onto the state.
Except what this chancer did was he decided to keep some of it for himself.
So forgive me for leaning to the side of me, a fellow taxpayer of this state and a user of services from this state.
I wish to fook Irish people would grow up and realise that there isn't some mythical system, ala the British occupiers of long ago, that we can screw over.
We are all the system and when you screw the system you are ultimately screwing your fellow citizens.
In this precise instance the guy not repaying his bank loan is screwing fellow bank customers, ordinary decent people paying mortgages and loans.
Oh and the fact that KBC divested themselves of that loan to some fund, be it vulture or not, means they took a major loss on it.
That cost is borne ultimately by the other customers of the bank.0 -
Frank Castle wrote: »Is anyone actually arguing against the eviction? rather than the methods used during the eviction?
I know from my time working in England, that a sheriff is to only use physical force to defend themselves or the public. With the idea being to talk someone around to leaving, failing that they wait them out, as soon as the leave the property they move in and take control of it. At the end of the day, no one can remain in their house forever.
they dont wait them out indefinitely. a couple of hours at most. and they can use force to gain entry. Once they are in they dont leave.0 -
Luckily enough for the people who live in the real world they need to get at least 57 more TD's elected before they can get into government. They might get noisier on the sidelines but at least they'll never be on the pitch.
And remember when they do get in Government they run away when the going gets tough like they have in Northern Ireland blaming the other side. Their bloody modus operandi "but but look at the other guys...". No political responsibility and no personal responsibility seems to be the Sinn Fein mantra!0 -
Yellow vest protest outside custom house on Saturday at 2pm.0
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ohnonotgmail wrote: »they dont wait them out indefinitely. a couple of hours at most. and they can use force to gain entry. Once they are in they dont leave.
They do not, but I have not come across a case of them having to wait longer than 3 days.
Now I am only a legal secretary, so its not as if I know all the ins and outs but in my personal experience I have not seen a case where they had to force entry with the owner still inside. They do bar entrance to the property and and use force to defend themselves while barring that entry. And as I say, no one can stay inside their house forever0 -
donkeykong5 wrote: »Yellow vest protest outside custom house on Saturday at 2pm.
Ah an excuse for the Eirigi twats to cause trouble.0 -
donkeykong5 wrote: »Yellow vest protest outside custom house on Saturday at 2pm.
Oh goody. More imported silliness.0 -
Frank Castle wrote: »They do not, but I have not come across a case of them having to wait longer than 3 days.
Now I am only a legal secretary, so its not as if I know all the ins and outs but in my personal experience I have not seen a case where they had to force entry with the owner still inside. They do bar entrance to the property and and use force to defend themselves while barring that entry. And as I say, no one can stay inside their house forever
they have a lot more authority than you think. They can force entry but that does not mean they do. Much easier for them to get a locksmith to open the door.0 -
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donkeykong5 wrote: »Yellow vest protest outside custom house on Saturday at 2pm.
oh great! time to board up the shop fronts0
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