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 Post subject: Re: Receiver appointed to Priory Hall development in Dublin
PostPosted: Sun Mar 29, 2015 3:18 pm 
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Too Big to Fail

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Mantissa wrote:
dolanbaker wrote:
They're better off renaming it Alcatraz, after all it's still a "ball & chain" for many of the former inmates.


But they got a "get out of jail free" card didn't they? They essentially sold the properties to the state for full price. Or do I misremember?

You're probably correct, I wasn't sure that they all "escaped".

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 Post subject: Re: Receiver appointed to Priory Hall development in Dublin
PostPosted: Sun Mar 29, 2015 4:16 pm 
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The BTLs may have been treated differently actually. I believe most of the relief was for mortgage-holders for some reason.

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 Post subject: Re: Receiver appointed to Priory Hall development in Dublin
PostPosted: Sun Mar 29, 2015 7:02 pm 
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Real Estate Developer

Joined: Feb 17, 2013
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Mantissa wrote:
The BTLs may have been treated differently actually. I believe most of the relief was for mortgage-holders for some reason.


Correct, as per the article:

Quote:
Under a deal brokered by the Taoiseach’s department and the Department of the Environment, it was agreed that former residents would have their debt written off.

As part of that agreement, ownership of owner-occupier homes was transferred to DCC – as were the mortgage obligations. Owners of buy-to-let properties were given a moratorium on their mortgage payments – and promised a complete refurbishment of their apartments.


So BTL owners were in limbo and are now stuck with the least attractive property in Ireland, but short memories, a rename, refurb and rental demand will probably see them do alright in the medium to long term.


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 Post subject: Re: Receiver appointed to Priory Hall development in Dublin
PostPosted: Sun Mar 29, 2015 8:20 pm 
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What a crazy "solution".

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 Post subject: Re: Receiver appointed to Priory Hall development in Dublin
PostPosted: Mon Jul 27, 2015 4:10 pm 
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Of Systemic Importance

Joined: Nov 4, 2011
Posts: 6075
Location: SthDub
McFeeleys legal eagles wanted the case heard in August as a matter of urgency...when all the M'luds are on their holidays in their country piles!!! Not the brightest of approaches
Quote:
Court blocks bankruptcy exit by developer Thomas McFeely
Case adjourned to October after bankruptcy trustee argues Priory Hall developer failed to disclose all his assets
http://www.irishtimes.com/business/comm ... -1.2298658
Priory Hall developer Thomas McFeely will contest an application to extend his bankruptcy by five years.
The application has been brought on grounds including his alleged failure to disclose all his assets, the High Court has heard.
Mr McFeely (67) was adjudicated bankrupt in Ireland in July 2012 and his bankruptcy is due to expire on Thursday, July 30th this year.


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 Post subject: Re: Receiver appointed to Priory Hall development in Dublin
PostPosted: Sat Oct 17, 2015 7:27 pm 
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Planning Tribunal Attendee

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Priory hall apts to go on sale early next year.Selling as New Priory....orderly queue please.

Joking aside these are probably the safest apts in the State.

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 Post subject: Re: Receiver appointed to Priory Hall development in Dublin
PostPosted: Wed Jun 01, 2016 1:17 pm 
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Of Systemic Importance

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Bankruptcy extended for 5 years for total non co-operation

http://www.irishtimes.com/news/crime-an ... -1.2668592
Quote:
He had also failed to disclose his interest in 12 properties.
He had also presented to Mr Lehane the statement of affairs which he had used for his English bankruptcy when he knew that was incomplete and continued thereafter to fail to co-operate with his bankruptcy.
He also sought to “dictate” to Mr Lehane where he would be interviewed, insisting Mr Lehane travel to Derry or pay him to travel to Dublin.
He also “unilaterally” decided that claims by third parties concerning his estate were valid and therefore his estate had no claim to certain properties. He also decided his 20 per cent interest in some properties “and quite possibly 100 per cent interest” was of nil commercial value although there was no charge on the relevant properties.
Were it not for the investigations of Mr Lehane, Mr McFeely’s creditors would be at a loss as a result of his persistent breach of his statutory obligations, the judge added.
In these proceedings, Mr McFeely had “flatly refused” to provide the address or addresses where he now lives, failed to provide a sworn statement of affairs and has provided a statement of affairs prepared in his English bankruptcy which he knows to be false.
He had “greatly hindered” Mr Lehane in the administration of his estate and the effect of his non-cooperation was to severely prejudice the realisation of his estate for the benefit of his creditors.

No mention of jail of course


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 Post subject: Re: Receiver appointed to Priory Hall development in Dublin
PostPosted: Thu Oct 20, 2016 8:54 pm 
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Posts: 23
Rimbaud wrote:
Priory hall apts to go on sale early next year.Selling as New Priory....orderly queue please.

Joking aside these are probably the safest apts in the State.


On sale now

http://www.daft.ie/dublin/apartments-for-sale/donaghmede/2-bed-apartment-new-priory-donaghmede-dublin-1333555/


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 Post subject: Re: Receiver appointed to Priory Hall development in Dublin
PostPosted: Thu Oct 20, 2016 9:02 pm 
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Under CAB Investigation

Joined: Apr 4, 2008
Posts: 2572
€165,000 for a two bed?

Must be a tasty yield on that, even with the location?

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I know a lot of them, like [Jimmy] Flynn, [Noel] O’Flaherty and the Baileys. You meet the Baileys at Croke Park every time you go there. You can’t avoid getting a slap on the back going in from them. Most of these guys lost their shirt. I feel sorry for them - Bertie Ahern


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 Post subject: Re: Receiver appointed to Priory Hall development in Dublin
PostPosted: Thu Oct 20, 2016 9:06 pm 
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Under CAB Investigation

Joined: Apr 9, 2014
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Renting And Proud! wrote:
€165,000 for a two bed?

Must be a tasty yield on that, even with the location?

IIRC, DCC has stipulated no BTL investors.


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