Society seeks €6m from Mara and partner

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Heed this folks:

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irishtimes.com/newspaper/ire … 70501.html

we have a price drop thread on the property:
5 Claremont Road, Sandymount (-2.85 million, -52%) - viewtopic.php?f=23&t=22271

The article you link says:

The price drop thread suggests the highest asking was 5.5m

I know the banks were nuts, but giving someone a loan of 6 million on an income of 4k a month really does beggar belief.
God bless the average taxpayer and their complete apathy to date.
Suckers.

We could learn from the french…

One could very easily substitute a few of the french lads above for irish names, and have yourself a grand old revolution.

Ara I’ll try:

Just a word of caution folks, its a forced sale … so no personal comments. Be respectful.

I just have one query …

Valuation of €1.8m may not be attainable. So why is it for sale at €2.65m ?
property.ie/property-for-sale/5-Claremont-Road-Sandymount-South-Dublin-City/441726/

surprised their parents let it get to this. not giving away any secrets here as its in the public domain. his partner (wife) is part of the “green” murphy family (i.e. rebuilt london after the war).
Anybody ever to visit London will have seen the green vans around.

Also remember they would have been pally enough with Sean Dunne and his wife as they were at Dunners wedding.

if it was you or me sure. see my post above. I was shocked to see they have their income at 4k would have expected way more. pretty sure Mara was very involved with o’Brien and his radio stations and a few other projects.

regardless their socially network would be the best there is. From recollection both sides of his and the wifes family are gilt edged socially. plus with her families backround I would reckon the banks would be falling over themselves to lend.

as I said am shocked that this made it to the courts and the families didnt bail them out.

Very interesting so similar. I just rectify the bit with the clergy that was missing :question: . The late news was that the clergy would not have to pay for any of the 25 millions on the abuse case. That said it all. This is the same situation. Interesting indeed. When will the tipping point be reach?

This quote from the Irish Times write up on this property in 2007 says it all…

The property boom did all of the heavy lifting, no amount of Farrow & Ball paint turns a €2.1 million house into a €5.5 million house.

It does raise an interesting point. Perhaps it would be possible to legally limit mortgage size to some proportion of taxable income? Not only would it reduce the size of mortgages to a sustainable level, it would remove the ability for fraud and would penalise those who are ultra-efficient in their tax affairs (they would only be able to get credit as a proportion of their taxable income).

Didn’t CJH get a mortgage for Kinsealy when it was something like 170 times his salary?

Now the son of his former right hand man gets a mortgage for a multiple of about 125 times his annual salary.

The more things change, the more they stay the same.

When the revolution comes namedropping Farrow and Ball will be a criminal offence.

… becasue there is no money.

or there is a little and it is no going to be thrown into a black hole.

Even she couldn’t have turned a profit on this one!

Chilly out isn’t it!

That is some property bust.

titter, titter

The return of Beanie babies…

No idea about Mara but I doubt the Murphy’s are short of a few bob.

I guess their point of view is it’s not worth stumping up millions of euro to keep out of the papers. The couple could go bankrupt if needs be.

And maybe they had liquid assets that originally were used as collateral for the loan. Where did I read a few months ago that banks in the French Riviera were getting plenty of inflows from Ireland. It is probably better to avoid the paper trail, I’m sure their families have the expertise

Taxpayers will pay off the loan instead

tax-news.com/archive/story/P … x4760.html

I have multi-millionaire relations. It doesn’t mean they ever give me any of it.

They may just be actually fcuked.