Fuck the Recession Quinlan - Chaaarrggge!


#181

Derek’s dream home is now Barclays’ nightmare - Ronald Quinlan -> independent.ie/national-news … 21810.html

Quinlan loan is flipped for €60m profit - John Reynolds and Nick Webb -> independent.ie/business/iris … 21786.html


#182

independent.ie/business/iris … 21788.html


#183

I could hear the solicitors phone ringing before the ink dried on that piece Neil. :wink:


#184

Isn’t it amazing how a change in Government has magically made NAMA, the supposedly independent organisation, find a pair of balls :angry: :nin


#185

How many friends does Quinlan still have among the Newspaper editors that no-one will doorstep him?
Why have primetime not showed up in Epalinges - is he friends with the DG in RTE?

Neil Please advise - Does Switzerland have crazy ‘put snooping journalists and photographers in jail’ laws or something. You did a good summary here.

tribune.ie/article/2009/jul/ … he-behind/


#186

Depends whether “the great and the good” want their names mentioned…


#187

And indeed, how much money he has lost on their behalf…

edit: does anyone else wonder that Mr. Quinlan might have had the same aura as Bernie Madoff? I’m not saying he was running a pyramid scheme (beyond the usual property thing), but that because he was ex-Revenue, it was felt that he had an inside track on what was going on? (In the same way that at least some of Madoff’s investors thought he was bent in the getting inside information way rather than the pyramid scheme way).


#188

I’m suspicious of the whole thing.
In the same way as ordinary joe soaps were doing equity releases to go on holiday and pay off credit card debt, how much were the Irish banks doing the exact same thing but at the jet set level?

The lack of genuine investigation here is spooky.
No long lens photographs. No lifestyle piece. No checks to see whether he’s exceeding his means.
We know that loads of the great and good were fellow investors. Is that the reason?


#189

When I was a young lad filling in my CAO form, I had two possible careers on it. One was engineering, my banker, & one was journalism.

As it happened not long after I sat the leaving I met a friend of my brother, who was a journo. My brother set it up when he found out my potential career choice, & wanted to open my eyes a little. I was, to say the least, a bit naive.

Long story short, my Brothers friend gave me chapter & verse of how the editorial process on pretty much any paper in Ireland works. He told me about some of the stories that he could never, ever, get published because to do so would destroy the paper and make him a leper, or possibly a resident of Mountjoy; not because the stories weren’t true, but because they weren’t convenient !

This was more than 20 years ago; & more or less anyone who has gone into Journalism since before then, & stayed, has resigned themselves to the fact that Irish Libel laws are sufficiently absurd, that our Taoiseachs mistress could earn a crust writing about her ‘sweetie’ in a regular column, & everyone in the office of that paper, & every other paper, knew exactly who said ‘sweetie’ was but none of them dared to write the story … not fucking one !

Even if a journalist wants to write the story, no-one wants to publish it. Look at what happens when a journalist points out the idiocy of an auctioneer not able to sell their own house in the Irish press !

We have no free press; we have a bunch of writers & editors who are beholden to the exact same group of people who let this shit happen. Ask yourself why we had to depend on the rag the IMoS to publish the details of Callelys deeds ?


#190

Maybe we need a wikileaks.ie


#191

The Internet is still fair game as far as the Irish courts, or at least Irish ISPs are concerned.

Try opening up a thread on boards.ie complaining about one of MCDs events …

We need a whistleblower law & a total teardown of the libel & defamation laws. Instead we had that prick Ahern redrafting the blasphemy law :unamused: :nin


#192

Nothing has changed, how many stories did Madam of the paper of record bury? One day she might tell the truth about the circumstances of Frank Connolly’s dismissal. What story was he about to break, madam?

Echoes of Haughey’s GUBU in McDowell’s Ireland - Michael Hennigan -> finfacts.com/irelandbusiness … 4265.shtml
Dec 14, 2005


#193

Neil, You are normally an accurate reporter, so it would be helpful if you would clarify the basis on which receivers were appointed to houses owned by Derek Quinlan, his wife, his daughter and his daughter’s husband as reported above? I have never seen receivers appointed to personally held assets before. I would have thought that was particularly true where there was no mortgage over the property or where judgement had not been obtained against the borrower. Now, a mortgagee in possession is a different animal, but a receiver to a personal asset… I’m not so sure


#194

I can answer that one. It’s absolutely normal. Lots of cannies are having Receivers appointed to personally owned portfolios every month and you don’t see it because it doesn’t have to get advertised (I think unlike corporate appointments).

It obviously wasn’t an ‘unencumbered personal asset’. There was clearly security/mortgage in place and that security gave right to appoint receiver.

For a personal asset where the deed allows you, you don’t need to go to court to get a well charging order or anything. In fact the receivership appointments over personally owned residential assets ought really to be added into the repossession stats to get a fair picture of what is going on - I don’t think anyone keeps track of it in statistics.

I don’t think these quinlan appointments will show up anywhere - not at CRO or stubbs or Courts or newspapers or irish oifiguil.

A fair number of these will be personal assets that have been put into receivership.=>
insolvencyjournal.ie/sale_of_assets.aspx


#195

I created the initial thread about Quinlan - I have just re-read it for posterity, I am going to quote myself on this one.

When I made this statement two years ago, I was completely wrong. In fairness to myself, I think an awful lot of folk even on here gave too much credit to the Canny McSavvy property developers. Back in the good old days of 2007/2008 - people here who could see the oncoming crisis, assumed that the property developers who would have had more feelers to the ground than most of us, would have sensed the shift in direction of the market and would have protected themselves. Pinsters were most definitely wrong on this accord. The likes of Quinn, Fitzpatrick and Quinlan didn’t take any chips off the table - they were all-in, leveraged up to the eyeballs.

Ireland Inc. has guaranteed all these people; we will collectively pay the price for this greed. The comic irony, is that we used to slag the United States, with their banking policy of NINJA loans (no asset, no job, no income). We have seen just how destructive this policy has been for the States, yet we seem hell bent on mirroring this policy. The more I think about it, the more I think The Unwelcome Guest is correct. He once used this phrase to describe Ireland as people. I must say I agree.

If this was Greece or Iceland, we would have seen a stop put to this impoverishment (either constitutionally, or through lawlessness). Instead of that, Irish people seem to take an appeasement policy. We don’t want to be seen as rocking the boat, we want to assure our European partners (the very same ones who are trying to hang us) that we can pay back all that cash that Quinlan and his ilk doled out on our behalf.

If Angela Merkel started asking for our first born folk - I wouldn’t be surprised if we had a few of our folk throwing their chilren at her!


#196

Just lack of interest I think, surprised Prime Time didn’t for the developers special. I think he spends a lot of time in one of the Maybourne hotels, the Connaught from memory.


#197

I’m sure he hasn’t run up a huge tab that’ll never get collected :wink:

so a UK quickie insolvency is another possibility in the mix?


#198

Nama interest in Quinlan assets at home and abroad - Barry O’Halloran -> irishtimes.com/newspaper/fin … 26908.html


#199

Irish Investor Holds Fire Sale - Craig Karmin -> online.wsj.com/article/SB1000142 … 22992.html


#200

Financier had Midas touch in boom which the great and the good prized -> independent.ie/business/iris … 20772.html