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Archive for the ‘Irish High Court’ Category

‘frankly pathetic.’

Mr.Liam Carroll’s latest application ‘unprecedented’

The second application for an examiner to be appointed to the Carroll group of companies has been described in the High Court as ‘extraordinary and unprecedented in the history of
corporate litigation.’

Lyndon McCann, SC for ACC Bank said a ‘tactical and strategic decision’ had been taken by the Carroll group to withhold evidence relating to its business plan and property valuations on the first petition for examinership.

He described this as a bad decision and the attempt to introduce the previously withheld business plan was ‘an abuse of the process of the court.’

Mr McCann also described the content of the letters from the financial institutions as ‘frankly pathetic.’

The video clip below captures some members of the public reactions to the so called current valuations giver to the courts by Mr.Carrolls legal team


This video doesn’t exist

Prison just for the poor??

THE NUMBER of people sent to prison for failing to pay fines or debts jumped to 2,520 in 2008, mostly caused by the recession and rising unemployment.

The latest figures available from the Prison Service show the number of people being sent to jail is rising. There were 13,600 prisoners on remand (a 14 per cent increase) and 8,000 under sentence (a 25 per cent increase) in 2008

Didn’t I read a few weeks ago that a court had ruled that it was unconstitutional for a court to imprison somebody for not paying debts?

Yes I remember now it was the McCann ruling on debt recovery

(Ms McCann (36), Mullaghmatt, Co Monaghan, brought her action against the State, with Monaghan Credit Union as a notice party, and the Human Rights Commission as amicus curiae (assistant to the court on legal issues).

Ms Justice Mary Laffoy yesterday ruled the relevant law – section 6 of the Enforcement of Court Orders Acts 1940 – breached McCann’s rights to fair procedures and personal liberty under the Constitution.) (Itishtimes.com)

Apart from this ruling it has also being reported that the Government will have an extra 400 more prison made available this year in order to cope with the rising demand as a result of people not being able to pay their debts

I am willing to take bets from anybody that Mr.Lian Carroll will not be gracing the inside of any of the countries Jails for non payment of his debts anytime soon

His latest action in the High court is just another attempt to stall the Supreme Court’s ruling a few days ago .just goes to show you if you have money in Ireland even when it is other people’s money you can run rings around any court’s ruling

Nor are we likely to see another Banker con artist, developer, or any politician join the thousands of ordinary people who will be turned out of their homes, and dumped into prison for non payment of their accumulated mortgage debts, in the coming months

We the people must not accept one law for the rich and one law for the poor Never!

vulchers circling Irish Banks

Irish Times reported to-day; that a Canadian bank had made a proposal to take a stake in AIB but that it wouldn’t make the move until AIB’s development loans are transferred to Ireland’s National Asset Management Agency. The paper said it is believed to be one of Canada’s five biggest banks.

The Irish Times said that the talks began two weeks ago but that any move is unlikely to develop in the near term pending the outcome of AIB’s talks with NAMA.

AIB sold a 25% stake to the Irish government earlier this year for EUR3.5 billion to help boost its finances after it was hit hard by the collapse in Ireland’s property market.

What a waste of public money looking at to-day’s closing prices!

But the fact is that there are now a lot of vulchers circling Irish Banks at these prices!

Particularly Allied Irish Bank even with the Supreme Court ruling one would have expected the shares to plummet again but no, they are up at least 20% since then I wonder why??

Maybe the market has already discounted this bad news and thus the share price is in fact a steal at these levels

This also shows that the people who are advising the current government on matters Banks and the financial well being of the Irish State should be brought out and hanged

Currently the bank is worth approx 2.7 billion with 460 million shares out and only 1.9% shares held by institutions(vulchers circling Irish Banks) the ordinary retail share holder is in the firing line and could be in for another hit before the vulchers decide to come down and feast on its carcass

Remember telecom eireann so watch out!

The government can piss off the ordinary punter but not the international institutional investors

The time to get in is when they are getting in!






This morning I read over the wires that the Green Party Members are now having second thoughts about the proposed “NAMA”

I have being writing about this preposterous piece of legislation for the past few months and It is

Very disappointing that the Greens of all people would take so long to come around to the notion that this con job on the Irish public is for one unconstitutional leageliey suspect!

But most of all it is downright fraudulent to expect that they could palm off these huge debts on to the ordinary Irish public , the very victims of these Bank crooks and despot Developers !

To the Greens I say Listen to the Grass roots; the people are not going to take this blatant attempt to saddle them with the debts of the ruling elite!

It shouldn’t take a Supreme Court judgement to tell you that this is wrong!




Dragons Den for NAMA?


Brian Lenihan

Will no doubt be looking around to-day and the next few weeks to see if he can get some suckers to buy his NAMA Crap !

Round one to the taxpayers

Well done Mr.
Chief Justice John Murray

The Irish Supreme Court rejected Liam Carroll’s last-ditch attempt to save his property empire

The ruling that could trigger a fire sale of his assets and puts a question mark over the Governments plan to rip off the tax payer by paying over the odds for Mr.Carroll’s worthless assets

The court’s decision to uphold an earlier ruling from the High Court means a receiver will give the job of off loading Carroll’s assets, from hotels to houses, in a knockdown sale that will drive down the market price of property before the government’s “bad bank” is up and running.

The Government had plans to transfer property loans with a nominal value of 90 billion Euros to a state-run “bad bank”

But “The Supreme court concluded that the petitioner had not established that its strategy for the orderly disposal of key assets of the company was credible or reasonably viable,” Chief Justice John Murray said in a written judgment.

The ordinary people of Ireland can justifiably to-night say a big thank you to the Supreme Court for demonstrating their independence and they can be proud in the knowledge that they did the country justice by not allowing a corrupt government and financial system rip off the people of Ireland

Carroll must face up to his own problems and pay his own debts and not expect the hard pressed people of Ireland to pay for his mistakes !

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