Shane Filan Bankrupt

StephenHendry

it cant be easy for him. i'd say that he is filan very awful at the moment

davet82

Micky Dolenz wrote: »

I don't know what you're laughing about. We'll have to pay for it.

I know, I said HA-HA!

mattjack

I heard he has webbed feet, feathers under his arms and drinks virgins slash by the bucket.

GetWithIt

Just for the oul FYI, the majority of money owed by Shafin Developments is to Ulster Bank.

It'll be her majesty who picks up the tab on this one.

wonderfullife

GetWithIt wrote: »

Just for the oul FYI, the majority of money owed by Shafin Developments is to Ulster Bank.

It'll be her majesty who picks up the tab on this one.

http://www.leitrimobserver.ie/news/business/receivers-appointed-to-shane-filan-s-property-company-shafin-developments-ltd-1-3821324

"Bank of Ireland is reportedly Shafin’s biggest creditor but Ulster Bank is also owed a substantial amount"

Nope, we're shafted.

Plazaman

smash wrote: »

He'll be back to making millions in royalties in 12 months. B@stard should be forced to pay off his loans.

In the UK, although the bankruptcy can be discharged in 12 months, earnings for the next 3 years can still be attached to pay off debts so he'll be looking at the paychecks and going "What the fúck is NAMAed?".

jayteecork wrote: »

His wife is a bit of a munter too.

I don't know, as long as I have a face, she'll always have a seat.

rasper

It's the people who facilitated the loans to those clowns who I'd like to see before the courts not enjoying their retirements

Logical Fallacy

smash wrote: »

He'll be back to making millions in royalties in 12 months. B@stard should be forced to pay off his loans.

The annoying thing is that he will still be making royalties right now off sales of old music, radio play, licensing , band merch etc etc etc.

Bankruptcy Law is a ****ing joke in pretty much every country. Unless someone can prove they have no possible means of ever paying off even a small amount of the debt they should not be allowed to claim it.

To be honest, I have no ****ing pity for idiots like him, driven by greed to just endlessly make more and more money.

Jester252

Poor him can't pay his bills
Lucky for him can be back making money in 6 months without the debit.
If only everyone in Ireland could do this

JP Liz V1

Bustlife

tfitzgerald

I feel sorry for him he invested his money in building hoping to make some money and it went wrong for him . I don't think their is one person who would have acted differently . He always comes across as a nice bloke to me not like the backing singer in his band Kian something or other

smash

tfitzgerald wrote: »

I feel sorry for him he invested his money in building hoping to make some money and it went wrong for him .

so did mick Wallace...

yosser hughes

later12 wrote: »

I'm not sure how much of a tab 'we' are picking up. do you?

Either way, I don't seriously believe many people would behave differently. If you were faced with bankruptcy, and you had a choice between financial ruin for years to come in Ireland, or a quick resolution of your debts in the UK, which would you choose? The funniest thing is that creditors are usually no better off as a result of the longer resolution process in Ireland - it appears to be a mainly punitive, anti-entrepreneurship measure.

You're confusing investing in a property bubble with entrepreneurship. The definition has been much abused in this country.
It is not a question about whether anyone else would do any different. The point is the bankruptcy laws and company laws are being abused.The fact remains Mr. Filan could afford to pay off many of his creditors, he just doesnt want to.
The taxpayer is paying for this via the bank bailouts.
Now if you're ok with that, fine. But call it as it is. Don't pretend it's anything else. In the long run this way of doing business in Ireland has left us in a pile of shyte. Bakruptcy law is there for a reason and you could say the terms are too penal in ireland but the fact remains abusing bankruptcy and company law is detrimental to the country in the long term.

the_syco

Cosmic.Postman wrote: »

Yes he was an awful eejit with all them loans

He moves to England, goes bankrupt in England, so what's to stop him hoping back over here and getting €4 million for the tour, unless I'm missing something?

digzy

the_syco wrote: »

He moves to England, goes bankrupt in England, so what's to stop him hoping back over here and getting €4 million for the tour, unless I'm missing something?

thats exactly why he's doing it. if he waited till after the tour his takings could go to the creditors, now he gets to keep it himself. dont blame him personally, it's the fault of the system that he and others can get away with this. once again the state via the banks take the hit.

Radharc na Sleibhte

I'd do exactly the same thing.
(except for building houses in Leitrim)

pickarooney

Mousewar wrote: »

Always amazing me how someone already rich beyond most people's dreams pursues even more money. Unbelievable greed and appalling that afterwards he'll still be a millionaire while the rest of us pick up the tab.

Statistically speaking, you're probably rich beyond most people's dreams but I bet you'd not say no to a bit more cash.

Mousewar

pickarooney wrote: »

Statistically speaking, you're probably rich beyond most people's dreams but I bet you'd not say no to a bit more cash.

True.
But misses the point.

He'd made it. He had enough money to never need to work again and live in luxury.
He wanted more.

Greedy ****.

Best username ever

Mousewar wrote: »

True.
But misses the point.

He'd made it. He had enough money to never need to work again and live in luxury.
He wanted more.

Greedy ****.

He should've put his money where Nikki did (wherever that is) I'm sure Bertie showed him the ropes.

wonderfullife

obviously dont know the bloke but he always came across likeable.

Which is why im confused. Growing up in Sligo he probably thought right ill do well in school, get a decent job, try work up to 40/50 grand a year and be happy.

Falls on his feet makes millions, if not tens of millions, and wants to invest it in property to get even richer!!!!???

I've nothing against trying to improve your income and wages but at what point do you sit back and think "well i think that's enough!!!". He could have lived 5 lifetimes in comfort without trying to make a few more million building houses in the arse-end-of-nowhere.

kevohmsford

"No One's Gonna Sleep Tonight"

Great song.

ejmaztec

I wonder if he's still speaking to his brother?






:pac:

wonderfullife

the pure cynicism of moving his whole family to england late last year with the sole intention of ensuring irish creditors were shafted, is just sick really. The fact he'd rather move to evade this, and presumably that involved yanking his 7 year old kid out of her school to do so, is a tad bit sickening.

lubie76

I think people are being harsh, I'm no fan of his music but he seems a decent enough bloke who got carried away with the whole investment thing. None of us were ever in his financial situation so we can't comment on what we would have invested in. Also his family are mostly involved in local business so id say he was just providing the security for cash borrowing and flow. Wise, no, but he probably thought he was providing a future for his family and extended family.
No chance the Egan fella would have got caught out, tight as a gnats chuff he is :-)

jayteecork

cut of the brother.

pickarooney

Mousewar wrote: »

True.
But misses the point.

He'd made it. He had enough money to never need to work again and live in luxury.
He wanted more.

Greedy ****.

You're missing my point as well. He's a young person who has tasted success and now needs to do something with his life. Do you really expect him to get a pipe and slippers and pat himself on the back for a life well lived?

later12

yosser hughes wrote: »

You're confusing investing in a property bubble with entrepreneurship. The definition has been much abused in this country.

Rubbish. There are entrepreneurs in the property industry, and there always shall be. Anyone who takes a risk on their own initiative for the purposes of commercial benefit is an entrepreneur... you can't just arbitrarily rule out the entrepreneurs who you personally dislike owing to the economic crisis.

It is not a question about whether anyone else would do any different. The point is the bankruptcy laws and company laws are being abused.The fact remains Mr. Filan could afford to pay off many of his creditors, he just doesnt want to.

How exactly do you know this? what do you claim to know that the court services and Filan's trustee did not know?

The taxpayer is paying for this via the bank bailouts.

The tax payer is no better off whether Filan filed for bankruptcy in the UK or in Ireland. It doesn't actually make a difference. Creditors in Ireland do not benefit from the longer debt resolution process, its object seems to be to punish to bankrupt as opposed to resolving indebtedness, since the candidate for bankruptcy invariably finds it impossible to trade or do business after having approached the courts for protection.

Faith+1

Pure greed. All his millions still wasn't enough for him.

jayteecork

Faith+1 wrote: »

Pure greed. All his millions still wasn't enough for him.

Maybe he was just helping out the brother.

Useless **** by the looks of him.

hondasam

wonderfullife wrote: »

the pure cynicism of moving his whole family to england late last year with the sole intention of ensuring irish creditors were shafted, is just sick really. The fact he'd rather move to evade this, and presumably that involved yanking his 7 year old kid out of her school to do so, is a tad bit sickening.

what would you have expected him to do? He has not got the money to pay the banks. I'm not condoning it either btw but he did what he had to do.

wonderfullife

hondasam wrote: »

what would you have expected him to do? He has not got the money to pay the banks. I'm not condoning it either btw but he did what he had to do.

i find it almost impossible to believe he couldnt have taken alternative routes - i.e. routes that would have hurt him more than fleeing to England to declare bankrupcy.

Off the top of my head, he could have legally signed over future Royalties to his creditors until the debts were paid. He could have signed an agreement that he would make good on a large % of the debt at the end of the forthcoming tour. Either would be quite a sizeable asset for banks to have and they would probably have accepted either of those.

Or he can leg it to England wait a year and hey presto back living it up again!!

smash

The property was never going to sell in that location. I would have thought he had more sense but obviously not. Now he's saying he'll cut his losses and just flee and leave the rest of us to pick up his tab. I'd say there's sub contractors getting burned too. It's sickening because he can well afford it!

hondasam

wonderfullife wrote: »

i find it almost impossible to believe he couldnt have taken alternative routes - i.e. routes that would have hurt him more than fleeing to England to declare bankrupcy.

Off the top of my head, he could have legally signed over future Royalties to his creditors until the debts were paid. He could have signed an agreement that he would make good on a large % of the debt at the end of the forthcoming tour. Either would be quite a sizeable asset for banks to have and they would probably have accepted either of those.

Or he can leg it to England wait a year and hey presto back living it up again!!

He could have paid the 5.5m he owes but he did not want too.
He took the easy option which protected himself, this option should not be available to anyone imo.
I think we would all do the same thing in the same circumstances no one wants to lose money.

smash wrote: »

The property was never going to sell in that location. I would have thought he had more sense but obviously not. Now he's saying he'll cut his losses and just flee and leave the rest of us to pick up his tab. I'd say there's sub contractors getting burned too. It's sickening because he can well afford it!

I think the brother was in charge there, shane just financed it and let them use his name to sell houses.
I don't agree with what he has done but you can't blame him for the choice he has made.

Zebra3

Zebra3 wrote: »

Afaik it's actually adults that go to watch those mongs "perform".

What does "mong" mean exactly?

Some form of hilarious slang word for disabled people I'm guessing:rolleyes: Yeah, that's f--king hysterical. Can't wait to share that one with the next mongoloid I stop to laugh and point at in the street. Bet they'll love it.

Nevermind, correct me if I'm mong. Sorry, wrong.

Worztron

Does this mean Filans debts will be dumped onto the battered Irish tax payers? :mad:

Prometheus

Cosmic.Postman wrote: »

Why the hell do any of you lot care about this man's personal life? Leave him be. Yes he was an awful eejit with all them loans, but seriously, what the papers are doing to him and his family is bad enough. So stop bashing him.

Stop bashing him!!!, this guy would have been quite happy to have charged, the ordinary tax payer, the criminal prices that were demanded at the time.
He declares himself bankrupt, not even has the balls to do it in his own country, pays so many cents(pence) to the euro(pound) that he owes, and f@@ks off to leave the mess behind.While we end up paying for the likes of him.
Give me a break will yeah

D1stant

Wow. The world has changed a lot

Soneone goes bust...

20 years ago. Poor Bollix, snigger

10 years ago. Thick C*nt. Laughter

Now. Hatred. You stole my money

This is starting to shape up like a class(money) war

Pretty sure that 99% of people with his resources would have gone bankrupt in EXACTLY the same way, so please, dismount.

peasant

It's only logical that he should have filed for bancruptcy in the UK ...all the luxury cars he was parading around Sligo were registered there as well

(and nobody ever took him up on it)

Prometheus

Spoken like someone who is prepared to keep taken whats shoveled to them.
Ahh ignorance is bliss.

D1stant wrote: »

Wow. The world has changed a lot

Soneone goes bust...

20 years ago. Poor Bollix, snigger

10 years ago. Thick C*nt. Laughter

Now. Hatred. You stole my money

This is starting to shape up like a class(money) war

Pretty sure that 99% of people with his resources would have gone bankrupt in EXACTLY the same way, so please, dismount.

suicide_circus

Some people here need to get a grip.

The man made a mistake. Now let him get on with the west of his life in peace.











I'll get my coat.

Mousewar

D1stant wrote: »

Wow. The world has changed a lot

Soneone goes bust...

20 years ago. Poor Bollix, snigger

10 years ago. Thick C*nt. Laughter

Now. Hatred. You stole my money

This is starting to shape up like a class(money) war

Pretty sure that 99% of people with his resources would have gone bankrupt in EXACTLY the same way, so please, dismount.

That stat is somewhat suspect seeing that the rest of westlife managed to avoid bankruptcy.
It's greed - simple as that.

mathepac

Cosmic.Postman wrote: »

Why the hell do any of you lot care about this man's personal life? Leave him be. Yes he was an awful eejit with all them loans, but seriously, what the papers are doing to him and his family is bad enough. So stop bashing him.

As a "showbiz" personality, a director of a development company that went bust with significant debts and as a declared bankrupt, he has no private life. He has lost all access or right to privacy. Did you notice the number of UK registered cars he and his cronies / family have? No VAT VRT or motor-tax paid here, while banks and home-buyers were shafted by him. A loathsome business man. That is my money he and his pals pissed away, money I have to pay back because, he, his company and his bankers don't have it.

I know this is AH but maybe you need to learn a little about the partricular topic before coming out to play and start whingeing about "leave poor Shane alone, ye big bullies ye".