What's going on with Micahel Lynn's Apartment?

daltonr · May 25, 2008, 8:55am

I’ve mentioned 22 Shelbourne Park Mews before. It seems to be still asking 425K.

www.daft.ie/1368140

even though there’s a slightly bigger apartment in the same development for over 100K less.

How can a property that’s the subject of a court judgement sit asking such a ridiculous price for so long. Any legal eagles here who can explain it?
independent.ie/business/iris … 39036.html

-Rd

mambo · October 11, 2008, 7:35am

Was 395k, now 335k
daft.ie/1395213

It’s an apartment block, not a “mews”. Idiots.

daltonr · October 13, 2008, 2:15pm

Does this give a little insight into the whole Irish Property game?

Here’s a criminal* who has skipped the country owing €80 million. And nobody seems to be in any rush to dispose of his “assets”. At one point this apartment had an asking price €100K higher than a larger one in the same development.

How many more of these kinds of places are out there?
What’s happening to the interest on these peoples debts?
5% of €80 million is €4 million.

A year on does Mr Lynn’s “debt” count as an €84 million “asset” on the books of the banks? No wonder they claim to be well capitalised, they have unpaid interest clocking up at an unprecended rate.

I must admit, I can’t wrap my very limited brain around the maths of all this.

-Rd

*** In case anyone is worried about calling him a criminal. He is guilty of contempt of court, which is a crime. Whether he’s guilty of anything else, time will tell.**

xman · October 13, 2008, 2:26pm

Probably got about nine 125% mortgages on it, so they need to sell it for what it’s “really worth”.

elgreco · October 16, 2008, 2:32pm

Contempt is not a criminal charge.
Alleged theft of EUR80M+ could be considered criminal.

Septic_Crank · October 16, 2008, 2:51pm

Contempt of Court can be criminal or civil, depending on the circumstances:

V. CIVIL CONTEMPT VERSUS CRIMINAL CONTEMPT
Few Irish cases have attempted to distinguish between civil and
criminal contempt.8 However, an examination of what case law
exists suggests that the basic elements of criminal contempt are:
i) It consists of behaviour calculated to prejudice the
due course of justice that is criminal e.g. contempt
in face of the court, acts calculated to prejudice the
due administration of justice, disobedience to a
writ of habeas corpus by the person to whom it is
directed.
ii) The sanction is punitive and consists of an
unlimited fine and/or imprisonment.
The basic elements of civil contempt are:
i) It consists of disobedience to an order of the court
by a party to the proceedings in which the court
generally has no interest to interfere unless moved
by the party for whose benefit the order was made.
ii) The sanction is coercive and consists of
imprisonment until such time as the order is
complied with or waived.
Attempts to neatly categorise the two forms of contempt have
been unsuccessful. The modern view appears to be that behaviour
may amount to civil or criminal contempt depending on the
circumstances surrounding the contempt. In addition, the
appropriate sanction to be imposed is to be determined by the
objective to be achieved. Thus there can be a punitive dimension to
civil contempt of court.

Source (Pdf)

xman · October 16, 2008, 3:01pm

Do we have a legal eagle playing smartarse word games on our hands?

johnnyskeleton · October 19, 2008, 9:29pm

It’s just a judgement, not an order for possession and sale in court. So the judgement has no real effect other than if the property is sold the amount of the judgement must be taken out of the proceeds. It’s up to the creditor whether he wants to further enforce the judgement and seek an order for possession and sale.

If you call someone a criminal when they are not (even if it is a technical distinction such as the civil v criminal contempt issue) it is defamation and the person who says it can be exposed to an action for damages. So it’s probably best if the comments are removed, as I believe it was only civil contempt.

mr_anderson · October 19, 2008, 10:41pm

I sold one in here for €305k back in late 2003.

daltonr · October 20, 2008, 10:30am

If anyone represting Mr Lynn contacts the Pin amout my comments, I’m happy to give my name and address and they can come after me. If called to court, I’ll show up when he does.

The definition of defamation is “the publication of a statement which tends to lower a person in the estimation of right-thinking members of society generally”

Nothing I have said about Mr Lynn would lower him in the estimation of right-thinking members of society. We already know that If Mr Lynn sets foot on Irish soil he will be arrested and thrown in prison. To most right-thinking people, that makes him both a criminal and a fugitive.

When we’ve got him safely behind bars where he belongs we can all sit down and have a good chat about semantics.

-Rd