Ireland’s UK property empire unwinds as it sells London assets -> telegraph.co.uk/finance/fina … ssets.html
Tazbell, contracts and Quinlan - Mark Coughlan -> thestory.ie/2010/10/11/tazbell-c … d-quinlan/
overdue court fines? Mr.Quinlan is here! -> thepressnet.com/2010/10/12/overd … n-is-here/
€5.5 million drop for Quinlan on Ailesbury Road - Orna Mulcahy -> irishtimes.com/newspaper/pro … 35207.html
Not fully over the line yet…
Quinlan got turned down in Malibu too, details on namawinelake
Actually, they paid about a billion Sterling, and are trying to sell it or about billion sterling. Poor bugger’s been hit by the devaluation of the pound.
Fully rented (to Citi) for about 70 million per year with rental increments agreed for an extended period, it might well sell at about that price…
Has he been hit? or is it lazy journalism?
Not having the loan in the same currency as the asset would be suicide and the bank’s lawyers would surely not allow it?
oh yeah, the equity portion if there is any is fvcked
Yeah, there was a fair amount of discussion earlier in the thread about a similar sterling sale (when the pound was at its then nadir). It was billed as a sterling profit, but it was never clear what currency the borrowing was in. Just like this one. If the borrowing was in sterling, you’d have to assume it would be said, no?
The great and good in society will be taking hits on these.
For Quinlan it must feel a bit like the bitter end of a game of monopoly when you are on the loosing side. “There goes another street with hotels on it that I had great plans for and had expended great effort in building up.”
Not glee on my part but I have no sympathy for the fucker as I know of leaseholders that he was screwing in to the ground for the last few years during our great depression.
I dunno, in monopoly you can actually go bankrupt and end up with nothing.
Although … does the Irish version allow for spouses ?
hot off the press: NAMA have put Quinlan’s property interests into receivership
although the fecker is now domiciled in Switzerland so I doubt he cares
I think the recevier has been appointed to some Quinlan companies by now at NAMAs instigation but I cannot seem to find out if Quinlan Private aka “Divest Us” is one of them. I’d say the lads are in the Commercial Court by now so hop up there someone
Isn’t this the issue with ALL our “developers”.
They are all abroad, living in the lap of luxury…surrounded by extremely WEALTHY WIVES and family.
Meanwhile, back here in Ireland, the taxpayer is …
Yes, this is absolutely my beef.
And if this government wish to differentiate themselves from their predecessors (which to date they have not done) then they need to something serious about going after these boyos and their rich wives. Which probably won’t happen until there are full scale riots on the streets. Which probably won’t happend either. So nothing changes.
Any ideas what Quinlan is costing the taxpayer? I mean Quinn’s CFD losses are irrecoverable, but at least there’s some receivership action going on here…