Repossession

HiGlo

The_Pretender wrote: »

There were plenty of ordinary Joe Soaps given much more than they could afford, thats part of why the country is in the mess it is now.

Fair point. Very true.


Still ridiculous carry on - no matter who the recipient....

conorh91

seamus wrote: »

it has been successfully argued in the past that someone should keep their house if it's befitting of their profession - e.g. if a consultant doctor has to suffer the indignity of living in a 3-bed semi D in Dundrum, their profession would be injured, so they get to keep their five bed in Killiney.

Where was that 'successfully argued'?

The only person I've ever heard make that remark was an accountant on the radio a few years back. It isn't a legal consideration.

All primary residences are to be repossessed only as a last resort, and with very strict conditions imposed by the Central Bank and the courts.

Desolation Of Smug

Gorse hill - the vale of tears...Didn't Pat Kenny and his neighbours have a bit of a spat over another section of "gorse".

Seems more like Orse Hill.

cloud493

How does he possibly owe that much money? Its insane.

Desolation Of Smug

cloud493 wrote: »

How does he possibly owe that much money? Its insane.

Getting up to your b0ll0x in debt doesn't come cheap you know.

Nucular Arms

Blizzardmoment wrote: »

Do people not realise that the moral obligation lies with the borrower to pay back the money they were given.

He's a lawyer.. what would he know about morals?

Chijj

This case is truly laughable, I hate the utter indignation of all this, they owe 71 million and are still trying to fight against possession.

People claim the banks are the ones to blame (obviously they played their part) but it is people who borrowed above their means and then when the **** hits the fan they end up cosingt the state even more money by going round the houses through any court that will hear their plea.

Then the "Land league" come along, they should be banned from using that name, there is a big difference between poor tenants being turfed out of their home & normally land they worked because of increase in rent than someone who has lived the life of Riley and then when it catches up with them blame the banks & Robin Hood and his merry men show up.

As I said laughable.

whiskeyman

cloud493 wrote: »

How does he possibly owe that much money? Its insane.

Sure that's small change to what some others owe.

Sean Quinn anyone?

Shurimgreat

Has his rockstar neighbour pleaded for debt forgiveness on o'donnells behalf yet??

Jet Black

cloud493 wrote: »

How does he possibly owe that much money? Its insane.

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.

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?

Guy:Incognito

boobar wrote: »

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

Owe 160 for TV license go straight to jail

Owe 75 million, well...

Straight to jail eh? Not a reminder first, then another, then a summons, then a fine, then another court appearance for not paying the fine, then a payment plan, then another summons for not keeping to the payment plan, then a sentence for contempt of court for refusing to pay the court fine?

Guy:Incognito

hatrickpatrick wrote: »

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?

Why would you need blind faith? The bank loaned someone money, they don't pay and the bank want the house that they (the bank) own. It's a simple enough arrangement.

The bank are much better off if someone pays the 400k mortgage on the house now worth 200k taken out 10 years ago than they are having the house back so if its a goer they will want the person to stay in the house and pay them.

thebaz

usually I am a sympathetic sort - always up for the outsider against big brother - but in this instance I have zero sympathy - piss off out of your mansion and live with us ordinary folk - what the hell are the land league doing up there anyway - taxpayers should not be paying for this nonsense, if i don't pay my rent I'm kicked out onto the street , but the O'Donnellls have a divine right to live on Vico road.

FalconGirl

Land league ha. League of failed businessmen more like because thats all they are. These people lie outside the golden circle for whatever reason. Their loans have been called in and dealt with accordingly unlike others I can think of!

Lollipops23

hatrickpatrick wrote: »

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?

From the couple of people I know who have fallen into arrears due to unemployment etc.

Yes, the banks are a dreadful shower of b*tards, every single one of them, including the tellers, the people in the offices, all of them are inherently evil and won't do a thing to help customers out. :rolleyes:

yipeeeee

Who is this idiot from the land league talking ****e on my tv.

thebaz

FalconGirl wrote: »

Land league ha. League of failed businessmen more like because thats all they are. These people lie outside the golden circle for whatever reason. Their loans have been called in and dealt with accordingly unlike others I can think of!

the word on the streets is that - Bertie won it on the races, is planning a comeback , and linking up with this post Celtic Tiger land league - bring back the era of brown paper bag politics , that the stupid taxpayers will always pay for.
Long live Bertie an Irish legend, creator of the Celtic Tiger

diomed

Gerry Beades ... is he the Fianna Fail guy from Swords?

Andalucia

Vote Parnell - these guys are an embarrassment to his name

Beades is a failed businessman who has nearly spent as much time in the courts as the O'Donnells

he got lucky a few years back where ACC lost some deeds to property he had

why is not being asked how much did you borrow and not re-pay? How many banks have secured judgement against you?

He is also a former member of Fianna Fail

RecordStraight

Andalucia wrote: »

Beades is a failed businessman who has nearly spent as much time in the courts as the O'Donnells

A property developer, and a great pal of Bertie Ahern. What's not to like?