Great & good aka High Profile Persons (HPP) debtor review


#1

RTE stars, judges and rugby elite who owe Anglo millions - Dearbhail McDonald and Thomas Molloy -> independent.ie/irish-news/rt … 87499.html


#2

I hope Dearbhail is not forgetting that Denis O’Brien owes/owed Anglo a serious wad of notes as well…


#3

I figure she’d be getting more that the usual solicitors letter in the post that Dinny habitually sends out to keep journalists in check.


#4

Our Republic is f*cked. Not fit for purpose.


#5

The Indo does not reference the source. Have they seen the document? Did they talk to a source that saw it? The whole thing could be fabricated out of whole cloth to scare some people into line for all we know…


#6

I have my t shirt on order ® Too poor for Nama too Rich for the Vincent de Paul


#7

I believe that in the recent IBRC portfolio sales process (Evergreen etc.), one of the portfolios had a list of thousands of individual borrowers (not sure how many or the level of disclosure however the market was buzzing with various names pre Christmas).

I’m not sure if this portfolio was actually ‘for sale’ but I believe that it was produced for completeness in the valuation of the IBRC assets on their transfer to NAMA. I would bet that this is the source of the article as reported.

If this portfolio is sold, it would be for a huge discount (10-20 cents in Euro), a lot of which would be probably passed on to the borrowers in return for any reasonable repayment. It will be interesting to see if this happens (i.e. borrowers let off), or if it goes to NAMA (i.e. life of servitude).


#8

And this is what Nama was set up to do. The only people really interested in buying this debt are the owners of the debt. Watch them get refinanced by the state banks with one lot of debt to buy out their NAMA debts at a discount.

How’d’ya like them apples?


#9

From the Indo article… this bit is such a scam it’s unreal:

Note, Anglo is not unique in this… plenty of the other banks and building societies loaned to buy investment products that would boost the bank share price (for example).


#10

wasnt nama set up to keep the professional classes in dublin in highly paid work during a recession, where else would they have got such highly paid work?!


#11

Sindo managing to tell us nothing and giving vague hints. Publish the fecking thing if you have it

independent.ie/opinion/colum … 87530.html


#12

Another bullshit article trying to exonerate two-brians and the rest of the FF & Green lickspittles. Like most of the rest of the political corruption in Ireland, it is backslapping and small beer that is the payoff for politicans of saving their idiot backers.


#13

The politicians all borrowed from Fingers in Irish Nationwide - that is why the most corrupt man in Irish banking (yes Seanie, step aside) will never be bought to account and anybody who helped his exit (i.e. Danny Kitchen-types), will get rewarded for it. The Indo knows this.

The Indo is going into full ‘green jersey’ overdrive since the Trokia left - the only time I read it anymore is when people post up articles on the PIN.


#14

there’s a weird spin going on here. “Anglo was bailed out to save the debtors” :confused: . Seems that Brian Lucey isn’t the only one who gets assets and liabilities mixed up. Any student with an outstanding Xtravision account knows having your creditors on the rack isn’t the worst thing in the world

also:

ehh, Ardagh - one of the largest Anglo borrowers
thesundaytimes.co.uk/sto/new … 403444.ece

Arnotts?

I’m sure Mathesons, Frys et al will get over it.


#15

Eh, no.

If you get your debts written down, you gain. If you gain solvency from insolvency, you gain. If you get to keep your lifestyle on cosy terms rather than have the debt sold on to more hard-headed debt recovery management, you gain. This is the story of Anglo and indeed NAMA.


#16

Obviously debt write off is beneficial; and the way it’s being handed with is a joke

however if on day one Anglo had been liquidated and the debt sold off the vultures could be coming in and buying at **much ** lower levels and happy to get even lower percentage levels of recovery than NAMA is now.

Indeed the great and the good could realistically be buying ther debts back at even lower levels if the bondholders had been let down.

If I had been a solvent Anglo debtor the night of the guarantee I would have been hoping the thing would go tits up - If you knew you were woefully insolvent then that’s a different story.


#17

Religious orders on ‘politically exposed’ Anglo list - Dearbhail McDonald and Sarah MacDonald -> independent.ie/irish-news/re … 90849.html


#18

Some one said in Work that there was a list of the Great and Good involved in the Irish Times any one see it or can you post it


#19

bit.ly/K7baig

Nothing we didn’t already know.


#20

I’d never heard of LMGTFY… thank you :smiley: