The Kingston story: Bidders fail to pay up for auctioned cows

mf240

whelan2 wrote: »

Was there any protest today from the land league?

They were all in Dublin 4. Trying to prevent the repossession of a ride-on lawnmower

melissak

djmc wrote: »

What I understand from his side of the story
The bank left him short 150k after he had completed the work which was promised but then renaged on due to the banking collapse.
The were given security over the land but not the cattle or the house or machinery.
He said he has no problem with the land as that's what he offered but they are coming after everything.
He said he was making payments and offered 1.2 million to work with him and give him more time but they refused.
I believe everyone that borrows money should repay it and be given every chance to repay it.
I also believe that if someone is set up to fail or someone is profiteering from others misfortune they should be investigated and exposed.

But does anyone in this country have the balls to investigate and expose this case and the countless other cases like it all the way back to the golden Vale poisoned cattle case.

rangler1

Pacoa wrote: »

Buying um and paying for um are two different things. We shall see if they are actually sold this time.

Bidders had to put up a deposit of €5000 if they wanted to bid and when that was spent, they had to put up more money before they bid again.
I think they had to put up the deposit even if they only wanted to get into the auction

Sam Kade

rangler1 wrote: »

Bidders had to put up a deposit of €5000 if they wanted to bid and when that was spent, they had to put up more money before they bid again.
I think they had to put up the deposit even if they only wanted to get into the auction

They had to pay a deposit just to view the animals on the days coming up to the auction.

Sam Kade

rangler1 wrote: »

Bidders had to put up a deposit of €5000 if they wanted to bid and when that was spent, they had to put up more money before they bid again.
I think they had to put up the deposit even if they only wanted to get into the auction

They had to pay a deposit just to view the animals on the days coming up to the auction. They also had to pay for transport up front.

J.O. Farmer

handlemaster wrote: »

Add your reply here.


thats why paddys great business goes bust. also insurance cover is not given for customer orders like this without purchase numbers etc.

What are you on about with order numbers. the farmer orders the fertiliser or feed from the co-op and the farmer gives the quantity required. The co-op generally has some way of recording the order possibly using some kind of new fangled computery thingy. They may even number the order but they don't need one from the farmers. The farmer doesn't care about the order number just can he get the goods and when.
Goods are sold on credit and the invoice will be sent out possibly with some kind of number relating to the order.
Paddys business would go bust if he was working off the farmers order numbers as he would have lots of order number 1 and all for very different amounts. The farmer being overcharged wouldn't be wanting to pay and the farmer being undercharged would only end up paying for a fraction of what he got.

djmc

melissak wrote: »

But does anyone in this country have the balls to investigate and expose this case and the countless other cases like it all the way back to the golden Vale poisoned cattle case.

probably not as most people dont care what happens outside their front door.
To go off topic a bit
As a side note the faeries used to be our gods before Catholicism
known in irish as the tribe of the gods the name was changed to the tribe of the mystical people so not to confuse them with the catholic god which was the one true god.
later when the english took over and attempted to translate this tribe of invisible mystical people with powers the word faeries was used.
later again written into childrens books and made into a cartoon by Disney.
Maybe in a few hundred years people will think we were mad going to mass and eating bread called the body of christ and having communions confermations and all that goes with it.
One god the irish did not want to give up was Brigit
So the church got onto rome about a nun from kildare with the same name
made her a saint which we just happen to celebrate on the same day as old gods pagan festival st. brigits day.
places of worship to old gods such as wells were turned into holy wells.

patsy_mccabe

How did we go from selling the Kingson cows to St. Brigid.

kowtow

patsy_mccabe wrote:

How did we go from selling the Kingson cows to St. Brigid.:angel:

Eloquently.

handlemaster

I think the st Brigid connection is people hoping for a miracle to happen

Sam Kade

handlemaster wrote: »

I think the st Brigid connection is people hoping for a miracle to happen

A bit late for Kingston, he said he turns to the Lord for help.

rangler1

Sam Kade wrote: »

A bit late for Kingston, he said he turns to the Lord for help.

I'm an atheist, but isn't there a saint for hopeless cases

Sam Kade

rangler1 wrote: »

I'm an atheist, but isn't there a saint for hopeless cases

St Jude, she might be a better bet for Kingston than the Lord

whisky_galore

melissak wrote: »

It used to be farmers wouldn't buy repossessed cattle etc. They thought it would bring misfortune

They had a name for them: Grabbers.

Might be 50 years after the sale, but the family would still be called 'the Grabbers'. :pac:

Mrs cockett

Sam Kade wrote: »

St Jude, she might be a better bet for Kingston than the Lord

St Jude was a man

Sam Kade

whisky_galore wrote: »

They had a name for them: Grabbers.

Might be 50 years after the sale, but the family would still be called 'the Grabbers'. :pac:

Even though they buy the farm, whoever buys kingstons farm they won't be short of shed space. It could be fairly awkward with him living so close.

whisky_galore

Sam Kade wrote: »

Even though they buy the farm, whoever buys kingstons farm they won't be short of shed space. It could be fairly awkward with him living so close.

Yes.

Totes awks, as the young people say.

whelan2

Sam Kade wrote: »

Even though they buy the farm, whoever buys kingstons farm they won't be short of shed space. It could be fairly awkward with him living so close.

Is the land/yard for sale too?

Sam Kade

Mrs cockett wrote: »

St Jude was a man

Thanks for the heads up

Bass Reeves

whisky_galore wrote: »

They had a name for them: Grabbers.

Might be 50 years after the sale, but the family would still be called 'the Grabbers'. :pac:

Nobody will give a f@@k if they pay there bills.

Sam Kade

whelan2 wrote: »

Is the land/yard for sale too?

I assume, he put it up as security for the loan.

whelan2

Sam Kade wrote: »

I assume, he put it up as security for the loan.

Did he not change the security from the land to the stock?

Sam Kade

whelan2 wrote: »

Did he not change the security from the land to the stock?

No. He said he never put the stock up for security but the bank went after them after anyway.

Bass Reeves

whisky_galore wrote: »

They had a name for them: Grabbers.

Might be 50 years after the sale, but the family would still be called 'the Grabbers'. :pac:

Sam Kade wrote: »

No. He said he never put the stock up for security but the bank went after them after anyway.

In Ireland all loans are full recourse in that if the assets you put up will not meet the loan then the bank can recover any shortfall from other assets. If you take out HP or a car and fail to repay if after recovering the car and selling it the HP company can chase you for any balance. They can also chase you for any costs incurred in dealing with the recovery loan and the recovery and sale of the car. That is why it is often best to do a deal with the HP company regarding the recovery of the car.

Just because you give the deeds of a property is not a limit on what the bank can recover from you.

coolshannagh28

This is a rotten prurient thread and should be closed

Farmer Ed

coolshannagh28 wrote: »

This is a rotten prurient thread and should be closed

I agree or at least name it the Tabloid thread. I guess human nature really hasn't changed that much since the times when public hanging was considered a great attraction.

Mrs cockett

coolshannagh28 wrote: »

This is a rotten prurient thread and should be closed

I think prurient is used out of context here

whelan2

Mrs cockett wrote: »

I think prurient is used out of context here

I had to google what it meant https://www.google.ie/url?sa=t&rct=j&q=&esrc=s&source=web&cd=3&cad=rja&uact=8&ved=0ahUKEwiit6HxkKzMAhVIJMAKHaFwCJYQFggkMAI&url=http%3A%2F%2Fwww.dictionary.com%2Fbrowse%2Fprurient&usg=AFQjCNGsteZ3b1AMjSu_AYX-RSIzyrwY5A&sig2=VO2V7XiefJdQaIwsiNcywA

Bass Reeves

coolshannagh28 wrote: »

This is a rotten prurient thread and should be closed

I am not sure. It is important from the point of view that there may be 20-50 of these type of cases over the next 5 years. Will the farmers involved be better going head to head with the banks as may have happened here or will negotiation be a better answer. This is the reality of borrowing money and what happens when a bank forecloses. What options have you and what can the bank do.

If you take a cold hard look at it are lenders better off trying to cut a deal and saying to banks look we will sell the cattle, grain or machinery or what ever and try to gain the maximun value for the stock rather than a sheriff or receiver and maybe work there way through it like that. Maybe banks will do a deal in such a situation maybe not.

Or we can bury our head in the sand and hope when we take it out it has all gone away.

melissak

Bass Reeves wrote: »

Nobody will give a f@@k if they pay there bills.

Maybe country folk are different in Cork. If someone bought a repossessed farm around here I would never miss an opportunity to do them an unneighbourly turn. And I'm fairly peaceful. My grandfather was offered a repossessed field for half nothing thirty years ago and he told them to shove it where the sun don't shine. AFAIK it never sold. Farmers should stick together or any one of them could be next. Grabbers should not be allowed to prosper.