Nama's family values + more bottom calling

[BoyRacer]

Nama’s family values - Kieron Wood -> sbpost.ie/news-features/nama … 53820.html

A developer who owes €2.3 billion to the banks has been ordered to pay his wife €60,000 a year in maintenance and hand over the family home in the first High Court separation involving the National Asset Management Agency (Nama).
The wife and husband - identified only as XY and YX- were married in the early 1980s and have two grown-up children.
The family businesses had developed ‘‘various elegant tourist properties’’ and, before the collapse of Lehman Brothers, the husband declared his annual income to be €6 million.
The wife had claimed €700,000 a year in household expenses.
When the wife issued judicial separation proceedings in 2007, the couple’s net worth was about €230 million.

Valuation surveyor John Moran, managing director of Jones Lang LaSalle, also gave evidence on behalf of the wife and said that, on average, there was approximately a seven-year period between each trough and peak in the property market.
The market was now ‘‘relatively close to the bottom’’, so property represented a good buy.
He said that the husband’s portfolio was generally ‘‘of high calibre’’, comprising primarily income-producing property, residential units and service sector assets, plus short-lease office buildings and several development sites.

there is more

[slideshowbob]

hi

what is the synopsis of this report?

Did the case establish a precedent?

thanks

[namawinelake]

“When the wife issued judicial separation proceedings in 2007, the couple’s net worth was about €230 million.”

Has anyone got a copy of the Sunday Independent’s “Ireland’s Rich List” in 2007 and if so, what property-related folk were reported as worth €230m?

[InForADime]

“When the wife issued judicial separation proceedings in 2007, the couple’s net worth was about €230 million.”

Has anyone got a copy of the Sunday Independent’s “Ireland’s Rich List” in 2007 and if so, what property-related folk were reported as worth €230m?

From memory when I read the article yesterday there were no end of clues in the piece. c€2.3b transferred to NAMA, and a non-Shrewsbury Road home (value €4.4m, 100 miles from Dublin) should narrow things down.

I’d say anyone ‘in the game’ could tell you who they are, and Kieran Wood certainly could.

[dowtchaboy]

Nama’s family values - Kieron Wood -> sbpost.ie/news-features/nama … 53820.html

The wife had claimed €700,000 a year in household expenses.
there is more

Uh - how do all these people keep straight faces when figures like this are thrown about? - “household expenses” - does she means she buys a few households and throws them away every year?
So he’s broke, 2.3 B in debt, but is able to agree to pay 60,000 per annum - so he must have assets and income… so why isn’t he servicing his debt? When is all this pretending and legal dancing going to stop? I never thought I would go this far but I’d like to see the Debtor’s prisons return - particularly for people taking the piss.

[InForADime]

Oh yeah, and the best bit of the article is where property values increasing 50% in the next 2-3 years is mentioned - €1.4b now up to €2.1b (not sure who said it). With a straight face no doubt. Donie Cassidy would be proud.

[Nanda_Devi]

“When the wife issued judicial separation proceedings in 2007, the couple’s net worth was about €230 million.”

Has anyone got a copy of the Sunday Independent’s “Ireland’s Rich List” in 2007 and if so, what property-related folk were reported as worth €230m?

Tis here, sleuth away.
independent.ie/national-news … 23332.html

[jmc]

“When the wife issued judicial separation proceedings in 2007, the couple’s net worth was about €230 million.”

Has anyone got a copy of the Sunday Independent’s “Ireland’s Rich List” in 2007 and if so, what property-related folk were reported as worth €230m?

Tis here, sleuth away.
independent.ie/national-news … 23332.html

And a quick scan down the list show at least forty names that turn up in Anglo land, AIB land and NAMA land. When you remove the Nordies then at least two thirds of the names in the rich list are now either directly or indirectly in NAMA land.

[yoganmahew]

Listen, it’s probably not a good idea to try and find out court details that are protected by law. Not unless you’re a newspaper and have your own lawyers. We don’t. Locked.

[yoganmahew]

Anyway, courtesy of you know who you are, the judgement is up on the Courts site:
courts.ie/Judgments.nsf/0985 … enDocument

edit: just had a flick through

[grumpy]

For fucks sake.

In the US they stop Madoff giving the watches to his wife. Here they blather on about shite and hand over millions in the courts.

And that judge: ‘This has been the first Nama family law case to have been adjudicated," he said. ‘‘It has been conducted in exemplary fashion. It is to be hoped that it will be a model for similar cases."

Sounds like his tongue is so far up his arse he’s lobotomised himself.