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 Post subject: Re: Michael O'Flynn: Surplus to requirements ?
PostPosted: Sun Aug 17, 2014 8:40 am 
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http://www.businesspost.ie/#!story/Home ... 35f33ada47

O'Flynn strikes deal on personal loans
Cork-based businessman Michael O'Flynn has completed a deal to pay off his €24.9 million personal loans. The deal was closed late on Friday, ...


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 Post subject: Re: Michael O'Flynn: Surplus to requirements ?
PostPosted: Mon Jan 05, 2015 1:43 pm 
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'I want to get on with my life' - O'Flynn fights for normality

http://www.independent.ie/business/i-wa ... 80033.html


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 Post subject: Re: Michael O'Flynn: Surplus to requirements ?
PostPosted: Mon Jan 05, 2015 1:58 pm 
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Ivan Yates was fellating him on Newstalk today, recapping all his great successes etc.

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 Post subject: Re: Michael O'Flynn: Surplus to requirements ?
PostPosted: Tue Feb 03, 2015 3:48 pm 
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O’Flynn and Blackstone — it’s a deal

http://www.irishexaminer.com/business/m ... snau/rss2/


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 Post subject: Re: Michael O'Flynn: Surplus to requirements ?
PostPosted: Mon Feb 16, 2015 11:17 am 
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Flynn retains sites after agreeing deal with Blackstone

http://www.irishtimes.com/business/tran ... -1.2103510

O'Flynn 'lifts the lid' on Nama with letter to Enda

http://www.independent.ie/irish-news/of ... 93080.html


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 Post subject: Re: Michael O'Flynn: Surplus to requirements ?
PostPosted: Tue Mar 03, 2015 5:21 pm 
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Homebuyers pay for social housing - O'Flynn

http://www.independent.ie/irish-news/fu ... 35347.html


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 Post subject: Re: Michael O'Flynn: Surplus to requirements ?
PostPosted: Tue Mar 03, 2015 5:32 pm 
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TheJackal wrote:
Homebuyers pay for social housing - O'Flynn

http://www.independent.ie/irish-news/fu ... 35347.html

And all along us idiots were thinking that it was the "poor developers" that were footing the bill for social housing :twisted:
Quote:
Mr O'Flynn, who controls more than 600 acres of development land, said this would add to already prohibitive development costs, which he said would be passed on to borrowers.

"It's not the developers who pay it, in the end it's the consumer who pays for everything. And why should people who are saving hard to have their own house be charged with building social houses?" he said.


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 Post subject: Re: Michael O'Flynn: Surplus to requirements ?
PostPosted: Sat Aug 01, 2015 12:05 am 
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Nama furious at O'Flynn evidence - -> http://www.independent.ie/business/iris ... 04200.html

Quote:
A furious row has erupted between developer Michael O'Flynn and Nama following his appearance before the Banking Inquiry.
In evidence and in written submissions to the inquiry, Mr O'Flynn alleged that he and his colleagues had been subjected by Nama to "very significant pressure" to sell a property in London to a specific buyer in the face of a higher offer from another bidder.
Responding to that claim, a Nama spokesman said: "Mr O'Flynn's contention is untrue. The property was openly marketed through a property agent appointed by Mr O'Flynn. Mr O'Flynn formally recommended to Nama that the property be sold to the highest bidder to emerge from that open market sales process on the agent's guidance that the price achieved set a 'new record yield'. Mr O'Flynn subsequently recommended the sale of the property to another third party who had not participated in that open market sales process. The sale of the property did not proceed."

there is more


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 Post subject: Re: Michael O'Flynn: Surplus to requirements ?
PostPosted: Thu Nov 05, 2015 12:53 pm 
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https://www.propertypriceregister.ie/we ... enDocument

Belfield Abbey
Boreenmanna Road
Cork

Date of Sale: 20/10/2015
Price: €6,476,163.00

So who bought the estate then? Blackstone?


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 Post subject: Re: Michael O'Flynn: Surplus to requirements ?
PostPosted: Fri Nov 06, 2015 5:25 pm 
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Return of the Irish property developer - FT.com http://on.ft.com/1laCGP1 via @FT

Quote:

His re-emergence, and that of other Celtic Tiger-era figures, such as Johnny Ronan and Bernard McNamara, comes at a pivotal moment in Ireland’s continuing property crisis. The problem is encapsulated in a few numbers. The country requires 30,000 new homes each year to meet demand. Each new home costs an average of €200,000 to build. That requires funding of €6bn.


Yet according to the most recent central bank figures, only €424m was made available by Irish banks in the year to the end of June for new housing construction, as they continue to nurse losses from their boom-era lending.
Some property market participants say only the boom-time developers, with their extensive market knowledge and access to new types of financing — often from foreign investors such as Avenue Capital — can accelerate housebuilding in Ireland. “The construction sector needs people like Michael coming back out of Nama, regardless of how people viewed what they did in the past,” says Pat Crean, chief executive of New Generation Homes, a housebuilder established after the crash.
The construction sector needs people like Michael coming back out of Nama, regardless of how people viewed what they did in the past


Others are less convinced. Ronan Lyons, who teaches at Trinity College, says the failure to encourage foreign investors to participate directly in the Irish construction sector after the crash has exacerbated the housing crisis, and made the return of the developers inevitable. “That’s why we have ended up back with the same cast of characters of a decade ago, more or less,” he says. “They don’t have any particular or unique skills other than that they know the market and how to get things done.”


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