"GAA star in alleged scam" Mod Note on page 1 and 2

Mentioning Primetime and documents. Somethings up.

Rte about to open the can of worms on him id say!

He won't do any time. He won't have to pay back any money. And he'll be back on the reality TV circuit in time, earning money. Bertie is back in FF, baby.

The €9.5m is just the nominal debt. AIB would have written that down themselves years ago- maybe to zero. In that case €60K wouldn't be too bad. Check out some of the write offs that are granted in personal insolvencies. One recent one at the High Court saw the write off exceed €12m.

I think the K Club properties were worth 2 million each at one point. But that would have halved I'd say after 2008.

This was reported in 2012:

At almost the same time, Newman was involved in a dispute with her ex-husband, Patrick O'Donohoe, over property, including the houses in Monkstown and the K Club. Although the couple have been separated since 2000, O'Donohoe was a co-director of Needahotel.com, and a year after the company was sold, the High Court ordered Newman to pay over €2.1m to her ex-husband. Some years later, with an amount rumoured to be more than €1m still outstanding, O'Donohoe registered charges over the house on Alma Road and the K Club properties. Sarah Newman says that all financial issues between the pair have now been resolved.

But it goes on to say that Carey was still staying at the K-Club after the split. Was that the ex-husband's place? :

The couple announced to their circle of friends -- by text message apparently -- just over a week ago, that the relationship was over. She is currently staying in England with her mother, while <admin snip> is apparently living at one of the K Club houses.

By the time judgments were made against them both in the Commercial Court last year -- for more than €9m each in favour of AIB Mortgage Bank -- the couple must have been frantically paddling for quite some time, trying desperately to keep their finances stable, even as his cleaning product company went into liquidation, and their property empire plummeted in value along with the rest of the country. The AIB debts related to cross-guarantees each gave in respect of the other's liabilities, specifically mortgage loans of €7.85m and €1.5m, dating back to 2007, which allowed them to refinance existing debt and release equity on properties jointly owned.

The cross-guarantees were slightly unusual transactions, but then, theirs was a deeply entwined relationship, in which each was involved with the other's businesses and finances. Rather than two lives running separate and parallel, they chose to confront the world as a unit. And even though they were an initially unlikely couple -- she a blonde, shiny Essex-girl-made-good, gregarious and a relentless net-worker, he a sporting legend and hero to men throughout the country, but personally shy and modest -- together, they were a convincing double act.

As well as the K Club properties, the couple bought a house at Mount Juliet, and a large beautifully renovated Georgian redbrick on Alma Road in Monkstown, where they mostly lived, with Newman's children. And then there was Chalet Grace, in a chic ski resort in Zermatt, Switzerland. Named for Newman's daughter, Chalet Grace was a true Celtic Tiger folly, with double-height floor-to-ceiling windows on all three levels, five double bedrooms, a dining room seating 14, a home cinema, a games room with pool table, and a 'Wellness' centre including a sauna, shower room, massage room, Pilates/yoga space, outdoor hot tub and shower. The chalet was finished in 2010, and on the market barely a year later, for €12.1m. It finally sold last year, which undoubtedly eased the financial strain considerably. However, that wasn't enough to turn back time on the stress of recent years.