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Thread: Ivor Callely and his property woes: Sindo

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    Default Ivor Callely and his property woes: Sindo

    It seems as if Ivor and the misses took out 6 mortgages at the height of the boom including 2 on new investments. A further 3 mortgages were secured on existing investments. Also as the property market tanked in the begining of 2009 Ivor was part of a 4 man consortium that paid €10million for a site. This site is now in receivership with €8million in loans outstanding.

    If, as is almost certainly the case, Ivor and the other members of the consortium gave personal guarantees and various assets as added security, could Senator Callely now be a bankrupt between all the charges on his now halved in value investments and a site whose realisable value must be questionable.

    Senator who got six mortgages in a day counts cost of property crash - National News, Frontpage - Independent.ie

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    Quote Originally Posted by kerrynorth View Post
    ...........could Senator Callely now be a bankrupt between all the charges on his now halved in value investments and a site whose realisable value must be questionable.

    Senator who got six mortgages in a day counts cost of property crash - National News, Frontpage - Independent.ie

    He could well be, and the fact that he is a member of the Oireachtas, will ensure that the bankers involved will squeeze every last penny out of him, as they being aware that should he be forced into bankruptcy that he will have to vacate his lodging in Kildare Street, a fate worst than death.


    Another martyer for the cause of cause of 'Construction Ireland'?


    Michael Moloney

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    Will he or any of his business partners be NAMA'd?
    We have turned the corner.I commend this Budget to the House. Brian Lenihan, 9 December 2009

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    All together now:


    AAAAaaaaaaaahhhhhh!!!!!!!!!!!!!

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    Quote Originally Posted by kerrynorth View Post
    It seems as if Ivor and the misses took out 6 mortgages at the height of the boom including 2 on new investments. A further 3 mortgages were secured on existing investments. Also as the property market tanked in the begining of 2009 Ivor was part of a 4 man consortium that paid €10million for a site. This site is now in receivership with €8million in loans outstanding.

    If, as is almost certainly the case, Ivor and the other members of the consortium gave personal guarantees and various assets as added security, could Senator Callely now be a bankrupt between all the charges on his now halved in value investments and a site whose realisable value must be questionable.

    Senator who got six mortgages in a day counts cost of property crash - National News, Frontpage - Independent.ie
    He can always get himself a wee caravan and take to the open road, maybe do a few driveways.....

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    Quote Originally Posted by HP View Post
    He can always get himself a wee caravan and take to the open road, maybe do a few driveways.....
    Would he then become part of a distinct ethnic group, as proposed by the green meanies?

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    Quote Originally Posted by 'orebel View Post
    Would he then become part of a distinct ethnic group, as proposed by the green meanies?
    Would he be entitled to get his caravan painted with the state picking up the tab?

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    Quote Originally Posted by 'orebel View Post
    Would he then become part of a distinct ethnic group, as proposed by the green meanies?
    He can't tarmac driveways. He'll need to learn.

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    Quote Originally Posted by dunno View Post
    He can't tarmac driveways. He'll need to learn.
    He could get his buddies from the force down in Baltimore to show him! I just hope he handles a caravan better than he does a boat
    Last edited by 'orebel; 28th March 2010 at 12:41 PM.

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    there does seem to be a certain poetic justice at the thought of one of those whom is so responsible for the reckless, feckless policies that lead to the property boom and bust also perishing and loosing all.....

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