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Thread: NAMA to own Charlie Haughey estate?

  1. #1
    Politics.ie Member corelli's Avatar
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    Default NAMA to own Charlie Haughey estate?

    Whilst cogitating the ramifications of NAMA, it occurred to me that Manor Park Homes had bought Abbyville, the former Haughey estate, for something between, it has been estimated, 40-50 million Euro. It would appear that there have been planning difficulties and the site, though original planning was granted in 2006, to this date, remains undeveloped.

    Given that NAMA is triggered for loans, performing and not, at 5 million Euro, is it too far to speculate that the property is Mortgaged to one, or several, of the guaranteed Banks and thus will come, in short order, within the prevue of NAMA?

    It would be rather interesting, if not, to some, disturbing, that the State bale-out mechanism would, in effect, be guaranteeing the estate of the disgraced former Taoiseach to the tune of 40 million Euro, or so.

    Of course Manor Park Homes could have had the cash to purchase the estate, though that is unclear and possibly unlikely. It is something, in my own personal opinion, that warrants further investigation.

    Any reporter just arrived home from the pub, if viewing, is welcome to do a little further digging!
    "......... we must sometimes listen to those who, consumed with zeal, have scant judgment or balance. To such ones the modern world is nothing but betrayal and ruin.........We feel bound to disagree with these prophets of doom who are forever forecasting calamity -- as though the world's end were imminent."

  2. #2
    Politics.ie Member Nipper's Avatar
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    Nama is bound to be full of stuff like this,

  3. #3

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    Good shot corelli.

    Can we start digging ourselves now. At least find the newsprint on the deal with manor Homes. I'll have a look ..
    Redacted.

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    There would be something fitting in having Haughey's palace becoming a victim of the chaos his party produced.
    "In [Ireland] a wife is regarded as a chattel, just as a thoroughbred mare or cow." Mr Justice Butler in the Irish courts. 'Traditional Marriage' in the 1970s.

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    Kinsealy was never worth the money that was paid for it.

    The Haugheys have been looked after by political donors.

    The money used to pay them was borrowed. The money borrowed will most likely end up being paid by the State.

    The money Haughey got to buy the estate in the first place, was gained illegally.

    So the Haughey family get to make a fortune out of their fathers criminality and we get to cover the costs.

    We are a disgraceful race, if we put up with this.

  6. #6

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    Could be right about NAMA:
    THE COMPANY that owns late taoiseach Charles Haughey’s former estate had a near €25 million deficit last year, according to the latest figures.

    Manor Park Homebuilders group, which bought the 200-acre Abbeville estate in Dublin from Mr Haughey in 2003, lost €14 million in the 12 months ended March 31st, compared with an €8.6 million gain the previous year.

    Its balance sheet shows that its liabilities outstripped its assets by €24.75 million. Its liabilities included net debt of €134 million.
    €25m deficit for Manor Park group - The Irish Times - Fri, Jan 15, 2010

  7. #7

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    I believe Manor Park use the facilities of a foreign bank.

  8. #8

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    Well, the deal was in 2003, so it's unlikely to be too severely impaired.

    RTÉ News: Permission for Abbeville development granted

    In a way, I'm happy the estate will probably be left untouched now. Who needs another 70 luxury houses on the Malahide Road.
    Redacted.

  9. #9
    Politics.ie Member corelli's Avatar
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    Quote Originally Posted by EvotingMachine0197 View Post
    Well, the deal was in 2003, so it's unlikely to be too severely impaired.

    RTÉ News: Permission for Abbeville development granted

    In a way, I'm happy the estate will probably be left untouched now. Who needs another 70 luxury houses on the Malahide Road.
    Permission in 2006 and it was appealed and nothing is built, as far as one can tell.
    "......... we must sometimes listen to those who, consumed with zeal, have scant judgment or balance. To such ones the modern world is nothing but betrayal and ruin.........We feel bound to disagree with these prophets of doom who are forever forecasting calamity -- as though the world's end were imminent."

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    Politics.ie Member corelli's Avatar
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    Quote Originally Posted by yellowmoose View Post
    I believe Manor Park use the facilities of a foreign bank.
    Source?
    "......... we must sometimes listen to those who, consumed with zeal, have scant judgment or balance. To such ones the modern world is nothing but betrayal and ruin.........We feel bound to disagree with these prophets of doom who are forever forecasting calamity -- as though the world's end were imminent."

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