Mortelaro wrote: » Are you prepared to back up the accusation of corruption ?
The report focused on the 2012 sale of Project Nantes, a portfolio of loans linked to Quinlan Private, to Clairvue Capital, a US private equity fund. At the time of the sale, the loans were managed by Avestus, which took over Quinlan Private in 2010. The portfolio included personal loans of partners in Quinlan’s business. Then Independent TD Mick Wallace revealed that a director of Avestus was also a director of the Clairvue entity that bought the loans, which he claimed was illegal. McCarthy found that it wasn’t illegal, as the provisions preventing the sale of Nama assets at discounts back to anyone linked to the original borrowers technically only referred to the sale of property and not loans. The loans were sold for about €27 million, a €10 million loss for the agency – the only loss it made on loans linked to Avestus. McCarthy found that Nama undervalued the Nantes portfolio by as much as €29 million.
Snow Garden wrote: » https://www.irishtimes.com/business/commercial-property/while-public-is-distracted-by-covid-19-nama-shrugs-off-loan-sale-findings-1.4208238 Why did the delay the publication of the internal report?
smurgen wrote: » And now they're not answering questions of the opposition parties. It's like the night of the bank bailout all over again. Watch as dodgy deal after dodgy deal passes. Later their cheerleaders with claim it was an "emergency" and decisions had to be made fast and no alternatives were available.
Mortelaro wrote: » Are you prepared to back up the allegation of corruption is what I asked? No? Thought so Nice fake news from you though
Speaking under privilege, Mr Wallace said the company Avestus took over Quinlan Private in 2010. The three principal directors, Olan Cremin, Thomas Dowd and Peter Donnelly, had borrowed heavily during the boom, mainly from Anglo Irish Bank, and owed €489m when the crash came,” he said. The €489m went across to NAMA and NAMA assembled a portfolio with €352m of this debt, naming it Project Nantes. The three boys went off to America to find someone to put up the money and found a company called Clairvue. They then set up a shell company in Luxembourg called Clairvue Nantes and installed another director of Avestus, Mark Donnelly, as a director of the Luxembourg company. He had been a director of Avestus since 2010 and became a director of Clairvue in 2012,” he said. The company bought Project Nantes for €26.6m, with a discount bringing the price to under 10% of the original value. This sale is in breach of the NAMA Act for multiple reasons. It was off-market, at a knock-down price and, worst of all, the purchaser was connected to the debtor which is illegal under section 172 of the NAMA Act
Snow Garden wrote: » https://www.irishexaminer.com/breakingnews/ireland/mick-wallace-calls-on-finance-minister-to-investigate-illegal-26-million-nama-deal-887198.html Oh yes of course, nothing to see here. Maybe if it was an external report ;);)
Mortelaro wrote: » You accused FG of corruption with that report,I asked you to back up that accusation You haven't Your accusation against FG is fake news
McMurphy wrote: » Ghost? You realise he's still currently under an active enquiry ref siteserv? NBBP will undoubtedly be yet another enquiry in the post, and I'm pretty sure I've seen Denis O'Brien headlines in the last few weeks. Ghost indeed.
Snow Garden wrote: » I fully believe it was a corrupt and illegal deal.
markodaly wrote: » You can believe in a flying spaghetti monster and bigfoot for all I care, that means **** all in reality. If all you have is a strong belief then unfortunately, you are wrong to equate your belief as fact.
Snow Garden wrote: » Very suspicious indeed, I think you will agree? Lots of question marks. Time will tell. I fully believe it was a corrupt and illegal deal. I am 100% convinced. It wouldn't be the first time FG took care of it's friends. If it looks like a duck, swims like a duck, and quacks like a duck...
McMurphy wrote: » Duly noted for the next time yourself or blanch start shyting on about army councils, shadowy figures blah blah blah, your belief means diddly squat without proof - am I understanding you correctly?
markodaly wrote: » So why is Ireland the top of the class when it comes to economic growth and reducing unemployment. Sure, if a rising tide lifted all boats, why were places like Greece and Italy (pre-Covid19) struggling economically? Germany was on the cusp of a recession before the virus hit. Rising tide lifts all boats, yet Irelands boat seemed be have been lifted way above anyone else in the EU.....Nothing at all to do with good government policy. Pure luck probably.
markodaly wrote: » The thing is, there are ex-IRA members in SF. That is a fact!
Mortelaro wrote: » So fake news,your beliefs etc I see
Nama probably failed to get the best price for a batch of loans linked to financier Derek Quinlan's boom-era property empire and failed to properly document its processes, according to a damning report from the Comptroller and Auditor General (C&AG). "It is difficult to conclude that Nama secured the best possible price for the sale of the Project Nantes loans," the report said. It also found fault with the sale process, including a decision by Nama not to seek independent valuation advice in line with its own stated best practice.
Snow Garden wrote: » The FG government did succeed in creating a massive national debt by not taking hard decisions (welfare state, shoite/wasteful/incompetent public services, corruption). That will come back to bite us when the budget deficit hits 20 billion+ this year.
Did they get that expensive printer into the Dail yet?
Snow Garden wrote: » https://www.independent.ie/business/commercial-property/nama-could-have-got-better-price-on-nantes-loan-sale-39059881.html They tried to bury the report in the Covid19 crisis but hopefully the truth comes out some day.
Mortelaro wrote: » That depends on who is more likely to sue for slander A case against a slander accusation regarding the army council and Sinn Féin is unlikely to be taken in the first place but unlikely to fly given it's already published elsewhere and reported as said by officials eg gardai etc Accusations of corruption in posts here against FG would be considered slander if a poster started naming individuals here They wont of course because they have no evidence to back that up if brought to law which I'm sure would happen and would be very costly for the poster Without naming or producing evidence of corruption, said accusation means fiddly squat Often forgotten is a court can go after a user name here and the person behind it
Mortelaro wrote: » That's your opinion ,not fact We prior to Covid 19 have been running budget surpluses lately Covid 19 spend is being treated differently world wide Still on about that? Ask Louise o'Reilly of SF from the watchdog that oversees oireachtas expenditure It's not a government competency That was pointed out to you a few days ago Ignored? Or missed in a fog of misty eyed fine Gael hate?
Mortelaro wrote: » Wheres the report?can anyone read it? Freely available yes? Thought so More fake news
Snow Garden wrote: » That question was directed to MarkO. You always trim my posts and go after the easy bits. No comment on the Irish Water superquango that continues to waste billions and was set up in a sea of corruption/cronyism?
Mortelaro wrote: » Still posting about corruption without producing any actual evidence I see Fake news again so You're fond of that! I only trim the parts I have already addressed Anyone can comment on your posts here by the way,its a public discussion forum I've come to the conclusion you're very unhappy with Fine Gael I actually have no problem with that and wish you well But obviously so far,I don't agree, stating why
McMurphy wrote: » Denis O'Brien suing anyone? Get up the yard, would never happen.
Snow Garden wrote: » I have lots to say about the Irish Water setup. When I have time I will outline it all for you. Full of corruption and intrigue too - you'll love it.
Mortelaro wrote: » Be careful you don't name anyone then I'll probably not read it though sorry,had my fill of that for too many years on forums We've all moved on,well most of us anyway to more current issues
Mortelaro wrote: » That depends on who is more likely to sue for slander Accusations of corruption in posts here against FG would be considered slander if a poster started naming individuals here
satguy wrote: » Now why would Róisín Shortall single out FG and not FF.
Snow Garden wrote: » I never move on until justice is done. Can I use the names in here?https://www.broadsheet.ie/2015/03/05/denis-obrien-fine-gael-and-the-water-meter-deal/
satguy wrote: » This is from today 07/04/20The Social Democrats say they will look at any proposal for coalition government produced by Fianna Fáil and Fine Gael. But co-leader Róisín Shortall says there are fundamental policy differences between her party and Fine Gael in particular. Now why would Róisín Shortall single out FG and not FF. No answer needed,, we all know the answer,, all the parties mentioned above will work hard for the people, execpt the one Róisín singled out. sourcehttps://www.breakingnews.ie/ireland/covid-19-has-created-democratic-deficit-td-says-992600.html
