Of course they did !
The taxpayer is underwriting a reduced borrowing cost for them, & they only have to pay back this margin once they get profitable again.
If the bank offered you a 2%, ‘Hardship’ reduction on your mortgage, wouldn’t you try to prolong the hardship as long as possible ?
Friend of mine used to rent one of Callely’s in the city centre up to recently. I say ‘Callely’s’ because it was wholly in the wife’s name, but in an admirable display of teamwork, it was Ivor and Ivor alone who dealt with all day-to-day administration. And yes, he tried to screw him out of the deposit.
That really would be an experience though, standing in a city centre one bed with damp issues, arguing with Senator Ivor Callely in a cramped hallway over a tin of paint.
spudnick:
Friend of mine used to rent one of Callely’s in the city centre up to recently. I say ‘Callely’s’ because it was wholly in the wife’s name, but in an admirable display of teamwork, it was Ivor and Ivor alone who dealt with all day-to-day administration. And yes, he tried to screw him out of the deposit.
That really would be an experience though, standing in a city centre one bed with damp issues, arguing with Senator Ivor Callely in a cramped hallway over a tin of paint.
The Travails of Mister Callelly is truly one of the best feel good stories of the last couple of years. Every cloud does indeed have a silver lining. Thanks Ivor
I wonder will this damage Sean Haughey’s chances of keeping his seat…
https://www.irishtimes.com/newspaper/images/boundedtile/2010/1006/1224280473068_1.jpg
Larry
January 31, 2011, 9:45am
#25
From the Indo story above:
Seems like we might need a NAMA for Ivor. Paper losses on these properties must be head-spinning.
It’s hard to imagine many people - even successful ones - who have enough equity elsewhere (in property, in cash or in other investments) to cover the losses on 10 properties bought at the height of the bubble.
Rimbaud
January 31, 2011, 9:48am
#26
Senator Ivor Callely and his family have built up an extensive portfolio totalling at least 19 properties, an Irish Independent investigation reveals.
The investments were mainly bankrolled by AIB, which provided finance for 15 residential properties owned or co-owned by Mr Callely, his wife and two of their children.
At least three of those properties are registered as rental properties with the Private Residential Tenancies Board (PRTB). One rental property in Artane is registered solely in Mr Callely’s name, and has an AIB mortgage.
independent.ie/national-news … 17544.html
Why only 3 out of 19??
All I can assume is he only has 3 properties rented out because its a serious offense not to register a rented property with the PRTB,at the very least it prohibits a LL from writing off the interest portion of his mortgage against rental income…puzzling.
tommyt
January 31, 2011, 10:20am
#28
aah Ivor- in the eye of his personal shitstorm in September who did I spot only himself - picking up a roll of that spongy kitchen wall paper (great for hiding the damp no doubt) and rummaging in a bargain bin full of cushions in Atlantic Homecare, Coolock.
There must be great solace in being a slumlord.
temene:
By Shane Phelan Investigative Correspondent Monday January 31 2011
Senator Ivor Callely and his family have built up an extensive portfolio totalling at least 19 properties, an Irish Independent investigation reveals. The investments were mainly bankrolled by AIB, which provided finance for 15 residential properties owned or co-owned by Mr Callely, his wife and two of their children. The Callelys invested heavily in the Dublin residential market over the past decade, land records reveal.
Six houses on Dublin’s northside, including the family home in Clontarf, are registered in the name of the senator and his wife, hairdresser Jennifer Callely. All of those are subject to mortgages from AIB. At least three of those properties are registered as rental properties with the Private Residential Tenancies Board (PRTB). One rental property in Artane is registered solely in Mr Callely’s name, and has an AIB mortgage.
A further six Dublin homes are registered solely in the name of Mrs Callely, four bought using AIB loans and two bought with funding from Irish Nationwide. PRTB records show at least three of these homes are rental properties. A residential property in Waterford city is also registered in Mrs Callely’s name and is subject to an AIB mortgage.
The couple’s holiday home in Kilcrohane, near Bantry, Co Cork, is also in Mrs Callely’s name. It was transferred into her sole ownership in April of last year. It is currently mortgage free and is on sale with an asking price of €650,000.
Mr and Mrs Callely and their son Ronan are registered as the owners of another rental property in Killester, north Dublin, bought in late 2006 and subject to an AIB mortgage. The couple’s daughter Aoibheann is also registered as the owner of two rental properties in Donaghmede, north Dublin, both of which were purchased with the aid of AIB loans…>>>.
Seconds out, Round Two !!
Have we not been here before
An investigation by the Seanad Committee on Members’ Interests has found Senator Ivor Callely did not contravene the Ethics in Public Office Act by not disclosing certain properties in the register of members interests.
The investigation into Mr Callely was initiated in August after a complaint was made by a member of the public on foot of a newspaper article.
**After considering the complaint, and receiving a response from Mr Callely, the committee met yesterday and decided not to uphold the complaint.The committee says it accepts the properties referred to in the complaint were not owned by family members of the Senator. **
Wednesday, 29 September 2010
rte.ie/news/2010/0929/callelyi.html
Inexplicable I know, but seems to be done and dusted already.
Shure - tis no wonder the poor man was confused as to where his real home was come Seanad travel expenses time!
Interesting, here’s a second anti Callely article today.
Looks like the knives are back out for Ivor. Usual murky shit.
SENATOR Ivor Callely last night admitted that he had a role in appointing the director of a printing company which carried out work for him to the board of the Irish Aviation Authority (IAA).
He is still being pursued for a debt of over €17,000 owed to Future Print, which printed political literature for him,.
But although Mr Callely denies he owes the money for the printing work, it has emerged that, in 2005, he promoted one of the company’s directors for appointment to the IAA board. < snip >
In a statement, Mr Callely denied there was any unwritten agreement between him and Ms Jameson that Future Print would carry out work and not insist on the invoice being paid.
“You will appreciate that if you make any suggestion in your article that there was anything inappropriate on my part I will take the necessary legal action,” he said.
independent.ie/national-news … 17543.html
I wonder at what point this fellow crosses the line and becomes a vexatious litigant…or has that line been crossed already…?
This sort of behaviour from a member of the Oireachtas would in someplace like Egypt have the citizenry gathered outside Ivor`s hall door(s)
bokonon
April 29, 2011, 10:20am
#35
Good lord, Paul Gogarty may have done something useful…
Ivor Callely file sent to DPP
A file on former senator Ivor Callely has been sent to the Director of Public Prosecutions (DPP) after investigations into irregular mobile phone claims.
Mr Callely was accused of falsely claiming about €3,000 for mobile phone expenses for a company that had gone out of business and he faced a Garda inquiry as well as in-house probes.
He is accused of supplying invoices from the business even though it was not trading.
It is understood the DPP will be examining whether a fraud has been committed.
Last August former Green Party backbencher Paul Gogarty made an official Garda complaint over reports that Mr Callely allegedly used invoices from a company that had gone out of business to claim mobile phone allowances.
…
irishtimes.com/newspaper/bre … ing55.html
Yeah and it exposes a rather farcical situation. Ordinary joe public isn’t good enough to make a complaint to the gardai; it has to be one of the great and the good, i.e. someone with knowledge of the situation and who has been affected by it. To give credit to Mr. Gogarty, once it became clear that was the case he made publicly the complaint, leaving an unwilling gardai hiding behind procedure no choice.
bokonon
April 29, 2011, 12:01pm
#37
Ivor needn’t worry though, the DPP is sound.
Still nothing has been done about this cunt !
FG should start to test FFs new found commitment to honesty & probity, & nail this bollox to a wall somewhere !
Callely claimed €39k over just 10 months
REVEALED: Ex-senator’s expenses were highest in Seanad
EX-Senator Ivor Callely was paid €39,875 in allowances for a 10-month period – the highest in the Seanad last year.
Mr Callely, who won a High Court battle over expenses with the Oireachtas, received the money for the last 10 months of 2010 under the new parliamentary standard allowance scheme introduced in March last year.
The former senator hit the headlines when it was revealed he was claiming travel and subsistence expenses from his holiday home in west Cork and not from his constituency and home in Clontarf in Dublin.
His claims were made shortly after he won his High Court case which ruled that a Seanad Committee had acted outside its powers in disciplinary proceedings it had taken against him.
The figures, published last night on the Oireachtas website, also show Mr Callely claimed €15,285 for the period from January to April 25 of this year when the 23rd Seanad ceased.
In both sets of claims, Mr Callely lists his zone as 12 which is the furthest distance from Leinster House indicating that he claimed for travelling from his holiday home near Schull.
…
From the Evening Rag
fishfoodie:
Still nothing has been done about this cunt !
FG should start to test FFs new found commitment to honesty & probity, & nail this bollox to a wall somewhere !
The Gardai would not investigate this last year because the needed the ‘victim’ to make the complaint, in other words they claimed they needed ‘The Nod’ from the Seanad.
The Seanad Committee on Members’ Interests, instead passed this onto SiPO to investigate.
SiPO sent their investigation to the DPP last month, and last week the DPP instructed the Gardai to commence their investigation, after which I presume the will refer their file back to the DPP who will decide whether to charge him.
In our shit effort of a system, that has taken a year, but at least it’s not all over yet. The fucker has no FF shield anymore and we might … might, just live to see him swing.
In the meantime, for a laugh, have a look at his brand new single page website/ CV
ivorcallely.ie
Yet another Westminster MP on her way to the clink. If only her parents had stayed in Ireland…
guardian.co.uk/politics/2011/sep/06/mps-expenses-margaret-moran-21-charges
Anyway, I’m leaving the internet. Decided that I have better things to do than attempt to be a witty polemicist to people that I don’t know.
Bye