Simon Kelly offers EUR 100 a month on EUR 17M debt

Son of failed property entrepreneur Paddy Kelly has an income of EUR 80,000 a year and outgoings of EUR 120,000 including EUR 27,000 in tuition fees for his five children. He can only offer to repay ACC Bank EUR 100 per month in respect of EUR 17 Million owed. How much did these clowns spend on Kiltiernan again?
independent.ie/national-news … 23006.html

Why no order against him? Who is funding the shortfall? Why is the taxpayer underwriting his kids private school fees.

Are we monkeys or what?

surely private school fees count as discretionary spend? He wouldn’t be the first to be forced to move his kids out when he can’t afford it anymore. Its a disgrace if he gets away with it while the taxpaying public pick up the tab.

Stop whinging about your betters and have another banana.

School fees are ‘sacrosant’ in parts of Dublin and Wicklow. That is how the other half lives after all :smiley:

No developer down the country could claim the ‘need’ with a straight face …the judge would simply tell him to send his little dears to the same Tech he went to himself.

My understanding is that he HAS got away with it - the judge made no order citing “lack of funds” XX XX

Decent fellow that judge :smiley:

Is it possible to dismiss that judge, citing “lack of balls”? :open_mouth:

Shouldnt that read “Simon Kelly, failed property entrepeneur, son of failed property entrepeneur Paddy Kelly”

Come on Indo, give Simon his fair dues. He’s a failure in his own right now, no need to be in the shadow of his father’s failure.

In a normal country if you default on a loan, your assets are repossessed and your credit rating is ruined for x number of years.

In Ireland the golden boys expect to keep their assets and get paid a fucking salary.

You’re seldom (never!) of the mark 2pack but I don’t think there’s too many judges who went to local tech’s.

Not too many judges children would have gone to a local Tech or Community College either, and I’m sure the judge here didn’t send his to one.

I take it this is ironic. As we know, West of Ireland native developers regard the repayment of debt as a matter of personal honour. They’d sell their daughters to the Russian mafia to avoid any public taint over their financial status.

And if that didn’t work, he’d paint “Anglo Toxic Bank” on the side of his last truck and park it at the gates of the Dail rather than accept the humiliation of having to pretend he’d any interest in his child’s education.

You’re obviously another Palesman, who never took a step outside the M50.

Indeed, this I can’t figure. I mean, correct me if I’m wrong, but this court case amounts to a bank turning up looking for a loan to be repaid, to be told by the Courts that the debtor cannot repay as he hasn’t the money.

If someone cannot repay because they haven’t the money, does that not mean they should be declared insolvent so that such assets as they do have can be distributed fairly among the creditors?

Does the matter just sit there in limbo now? Does a specific application have to be made to declare someone insolvent - even if this is discovered in the course of court proceedings?

Grotesque, unbelievable, bizarre, but sadly not unprecedented.
I read some threads yesterday on AAM about people in financial difficulty who are cutting their outgoings to a minimum, while this guy continues to live on a five-acre estate and spend 27K on his kids’ education? He has 80K coming in and is spending 120K per annum? How does that work? How can he keep the five properties in Liverpool? Why hasn’t he been declared bankrupt on the 17M debt?

A c’mon enough with the mob mentality. Sure we’re all feeling the pinch after the budget. At least he’s doing his bit paying what he can. Sure it’ll only take another 14166.66 years to pay it off (excluding interest).

Judge Murrough Connellan seems to be a man rather detached from reality of life for the ordinary people of this country. Claim that you have no money to pay debts even though you have five rental properties, live in a palatial home and spend a five figure sum sending your kids to private schools and he’ll let you off scot free. But wear a T-shirt he doesn’t approve of and it’s off to jail with you. :imp:
independent.ie/national-news … 32630.html

Jeez, that’s a bit harsh, especially when you know Bollocks isn’t a swear word.
acc.umu.se/~samhain/summerof … tcase.html

A disgusting contrast.

Don’t worry.

We’ll set up a Volksgerichtshof (People’s Court) and sort all this messing out :smiley:

When liberty destroys order, the hunger for order will destroy liberty

So BoI is funding the shortfall between his income and outgoings so that he can carry on sending his kids to private school. Sick joke.

So let me get this straight, you’re exonerating nazism then???