Hobbs: developers moving assets outside State

[cd27]

Quote from Eddie Hobbs' blog from last week:

NAMA

"Central to the titanic struggle about to play out in the courts is not just the land and development sites secured against development loans but the vast property empires held elsewhere by developers and exposed to NAMA by personal guarantees to make good the debt. Tactics include;


Raising new loans from overseas banks against property currently free of encumbrance, placing the cash raised by the equity release into bank accounts held outside the State. This reduces the net property assets by developers exposed to NAMA’s trawl of assets.
Settling property and other assets into family trusts, changing the ownership of assets to professional trustees and placing another layer of ownership in the way of NAMA
Moving assets into wives names, a switch currently free of gift tax, thereby removing key assets from the ownership of the exposed developer".

Have these people no honour, it seems that it is with good reason that bankrupts can't sit in the Dail.

[MsAnneThrope]

Did anyone in FF honestly expect them not to do this???

[anewbeginning]

Of course they are.

And I have no doubt the developers are getting tip offs from Fianna Fail about impending legislation.

FF will never lift a finger to harm their friends, never.

Only punishment at the ballot box tomorrow and forever after will thwart FF aims to enrich their friends by bankrupting the country.

[Clanrickard]

Quote from Eddie Hobbs' blog from last week:

NAMA

"Central to the titanic struggle about to play out in the courts is not just the land and development sites secured against development loans but the vast property empires held elsewhere by developers and exposed to NAMA by personal guarantees to make good the debt. Tactics include;


Raising new loans from overseas banks against property currently free of encumbrance, placing the cash raised by the equity release into bank accounts held outside the State. This reduces the net property assets by developers exposed to NAMA’s trawl of assets.
Settling property and other assets into family trusts, changing the ownership of assets to professional trustees and placing another layer of ownership in the way of NAMA
Moving assets into wives names, a switch currently free of gift tax, thereby removing key assets from the ownership of the exposed developer".

Have these people no honour, it seems that it is with good reason that bankrupts can't sit in the Dail.

All legal let it be said. The law needs to be changed to follow the money.

[jmcc]

Seize their assets now. If they object, shoot the f*ckers and then seize their assets.

Regards...jmcc

[FakeViking]

Eddie Hobbs, the guy who's endorsing the FF-Lites, criticising NAMA?

Bertie's Daughter's ghost writers must be writing this.

[JCSkinner]

Emergency legislation reversing all indemnities and creating a charge of fraud for anyone owing a debt to Anglo from liquidating any asset here or abroad without first acquiting the Anglo debt.
Then send in the CAB.

[FakeViking]

Then send in the CAB.

They only catch small fry.

[JollyRedGiant]

Seize their assets now. If they object, shoot the f*ckers and then seize their assets.

Regards...jmcc

thumbs up to this one.

[zakalwe1]

like the financial regulator...

chasing small dodgy investment firms/insurance agencies and the phoenix (for giving "investment advice" to a tiny readership) but letting the big banks squander billions and leave shareholders with 95% losses and mortgage applicants with little chance of mortgage approval....

feckin shower of wasters....a bullet in the head is too good for neary and his cronies.