Ir. Times: Developer unable to sell properties to meet loans

He musn’t be a FFer (or else if he is, he didn’t get the memo) !

He was sold a pup ACC Bond that underperformed by an amount greater than the arrears on the loan.

He was only in €30k of arrears, 3% of the entire loan amount…when ACC called it in. He should have tried to do an offset on the pup bond. Did Simon Kelly not countersue ACC over one of those pup bonds whatever happened to that case last year.

By the dismal standards of the ACC loan book this man is resoundingly solvent. The Advertiser has some more here

IS this Peter Kelly the only Judge in the country?

He seems to be presiding in almost every story I read about.

Where’s that ideas for the recovery thread, I’ve just had a beauty.

Start an Irish version of Court TV, televising ‘Superjudge’ Kelly’s court 8DD

Imagine the viewing figures you’d get for sessions with Seanie Fitz getting reamed in the witness box !

From the article:

Sigh. I suspect with a sinking heart that those “other banks” aren’t wearing an Orange jersey. How bloody depressing that while the grown-ups are trying to face reality the children are still playing hide-and-seek with it.

He’s the main judge in the commerical court. So he deals with more commercial cases than other judges. He also deals with the shorter summary judgement type cases.

Tis a rare piece of good fortune, for us all, that he is The Judge in that position at this time.

There aren’t too many rays of light out there, but he is one we can all look to.

I don’t think he tried hard enough to sell the properties…