Tipping point?

Have we reached the Tipping Point

  • What recession
  • Slowly getting there
  • Yes
  • 3 months away
  • Never get there due to gov support

0 voters

www.insolvencyjournal.ie is moving like a ticker tape.

Of interest to day was the architects Traynor O’Toole Architects Limited

totarch.ie/portfolio.htm - Beacon this, Beacon that.

As more and more of the high flyers get dragged in this will spiral.

Have we finally reached a period in time where, by Easter, the cub is out of the bag?

Tipping point as in just before it falls off a cliff? My money’s on slow decline for the next two years or so, so no actual tipping point.

Interesting website. The fact it even exists shows that we’re almost there. From what I’ve seen, within the construction industry (and its offshoots) there is widespread acceptance that the bubble has burst.

(Although I did get told this week that it was a great time to buy and would I not ask my parents for help!)

Bespoke architects to…Anglo Irish Bank!:



Insolvency journal is going subscription only. 149 quid a year or take up the offer now and get a 33% discount.

Browsing that site and I see a friends business calling a creditors meeting.
What exactly does that mean? Can a business continue if they get agreement from creditors (although can’t see the line of the business recovering).

Creditor’s meeting or creditor’s voluntary winding up meeting? If the latter it’s game over.

Oh Dear! That is the shell on the corner of New Wapping Street that Liam Carrol was building before he went BANG !
I think it could be vexed ! :open_mouth:

Game over is what that means - going into liquidation and delivering the bad news to creditors is what that meeting is about.

Interesting site - pity you can’t search by area/directors’s name!
Have a look at “Sale of Assets” - there are some apartments in Tullamore, and EcoHomes in Coothill in there - liquidation or receivership - it’s not clear if the Coothill ones are built or not.

Now residential property (Galway) appearing on insolvencyjournal.ie.

Surely the receivers have to sell for what they can get? Anyone know the rules surrounding receivers. They cannot subscribe to the “I’ll not sell for less than it is worth” mantra.

they can hold the asset for as long as they wish before realising the security, subject of course to being reasonable to the position of the borrower.