Follow @PoliticsIE
 
 
 
Page 1 of 9 12345 ... LastLast
Results 1 to 10 of 88

Thread: NAMA 'can't touch' developers' wives

  1. #1
    Politics.ie Member Aindriu's Avatar
    Join Date
    Jun 2007
    Location
    Somewhere up in the Wicklow mountains digging an even deeper nuclear shelter
    Posts
    8,689
    Mentioned
    0 Post(s)

    Angry NAMA 'can't touch' developers' wives

    Lenahan screws up again!

    NAMA cannot claw back millions of euro in assets belonging to developers who transferred properties to their wives and families just before the State's 'bad bank' was set up.
    The National Asset Management Agency only has the power to pursue assets transferred to relatives since December 2009 as part of its efforts to recover billions of euro owed by indebted developers.
    It cannot seize properties and other assets transferred before that date, the Irish Independent can reveal.
    The revelation is in contrast with the strong statements being made by Finance Minister Brian Lenihan. He has said that while the Government couldn't prevent developers from moving abroad they would not be able to escape their debts.
    Yesterday, a NAMA spokesman said the agency would use all powers at its disposal to collect monies owed by developers.
    "Our preference is to work with debtors with a view to their loans being repaid," he said. "However, where that is not possible, then we will use all the means at our disposal within the law to pursue debtors."
    Mr Lenihan included a provision in the NAMA legislation to give the bad bank power to "set aside" or reverse transactions that favoured family members and allowed developers to avoid using them to repay their debts.
    But it is now clear that this will only apply to assets in a developer's name after December 2009.
    Full article here.

    No wonder the likes of Seanie Fitzpatrick are laughing and smiling every time they get clocked by the media!

    The clown must go and go now!!!
    If you continue to elect idiots in elections, don't be surprised when the result is an idiotic government.

  2. #2
    Politics.ie Member eoghanacht's Avatar
    Join Date
    Apr 2006
    Location
    sitting on my toilet.
    Posts
    33,357
    Mentioned
    0 Post(s)

    Default

    We knew this would happen. I can't see why your so angry. It's the corrupt social elite using Irish law to phuck us over again whilst Lennie and co. shake their heads in mock anger.
    Britain operated death squads - ''97% of the Loyalists I interviewed were working directly for the State.'' - Nuala O'Loan. #FreeAhedTamimi

  3. #3
    Politics.ie Member Aindriu's Avatar
    Join Date
    Jun 2007
    Location
    Somewhere up in the Wicklow mountains digging an even deeper nuclear shelter
    Posts
    8,689
    Mentioned
    0 Post(s)

    Default

    Quote Originally Posted by eoghanacht View Post
    We knew this would happen. I can't see why your so angry. It's the corrupt social elite using Irish law to phuck us over again whilst Lennie and co. shake their heads in mock anger.
    I am so angry because both Clowen and Lendahand are lawyers!!! In Lendahand's case he got a first class honours in his law degree!!

    He should have made sure that everything was put in place to ensure the barstewards couldn't do what they did. It could (and should) have been done. All it would have taken would have been a court order to freeze their assets!
    If you continue to elect idiots in elections, don't be surprised when the result is an idiotic government.

  4. #4
    Politics.ie Member hammer's Avatar
    Join Date
    Jul 2009
    Location
    Olympic Stadium
    Posts
    58,469
    Mentioned
    1 Post(s)

    Default

    Great news for the developers. Great news.

    All debts wiped

  5. #5
    Politics.ie Member hammer's Avatar
    Join Date
    Jul 2009
    Location
    Olympic Stadium
    Posts
    58,469
    Mentioned
    1 Post(s)

    Default

    This information would have been passed on to the closest allies, no doubt

  6. #6
    Politics.ie Member
    Join Date
    Aug 2010
    Location
    Côte d’Ivoire
    Posts
    1,851
    Mentioned
    0 Post(s)

    Default

    Hundreds, maybe thousands, of wives have had assets transferred to them in recent years by their high net worth husbands.
    Fair enough you might think.
    Except that right through the collapse of our banking system, for over three years, female journalists especially, but also many other feminist activists and politicians have claimed the collapse would never happened had more women been in positions of power and authority, more women directors in the bank boardrooms, more women heading up the nation's businesses.
    To which I say, what a load of auld bollix!
    The females claim that somehow women are more conscientious, more honest, more upfront - the world would be a better place if only women got more of a chance.
    Well let's see if that is true.
    Let's see how many of the high rollers' wives put on the green jersey and fess up to the truth about their ill gotten gains.
    Let's see how many wives decide to come forward and offer up their loot to the public, proving their determination to make a clean breast of things, play fair and help offset the huge cost to ordinary taxpayers like me and you of bailing out banks, and the huge cost of paying overpriced advisors for the next ten years at least for the criminal NAMA shakedown.
    But prove me wrong.
    Come back to me in a year and tell me look, here's at least 50 wives who didn't like how they got their huge wealth from, and walked away from it.
    Yes, go right ahead and prove me wrong.
    But I'm not holding my breath.
    Last edited by Paddy Sarkozy; 9th October 2010 at 12:37 PM.

  7. #7
    Politics.ie Member
    Join Date
    Jan 2009
    Posts
    858
    Mentioned
    0 Post(s)

    Default

    That is incredible and shocking.

    Some years ago I bought a house from a family member.
    The revenue quite rightly would not accept my valuation as a lower rate of stamp duty applied to transfers between blood relatives, I had to produce an independent valuation.

    The revenue then (again quite rightly) informed me that if the family member died within 7 years of the transfer I would have to pay a balance to the amount of ‘normal’ stamp duty.

    How can these ‘pillars of society’ get away with this?

  8. #8
    Politics.ie Member
    Join Date
    Jan 2008
    Location
    At the right hand
    Posts
    2,525
    Mentioned
    0 Post(s)

    Default

    Quote Originally Posted by Aindriu View Post
    I am so angry because both Clowen and Lendahand are lawyers!!! In Lendahand's case he got a first class honours in his law degree!!

    He should have made sure that everything was put in place to ensure the barstewards couldn't do what they did. It could (and should) have been done. All it would have taken would have been a court order to freeze their assets!
    Do you think it was an oversight?

  9. #9
    Politics.ie Member cry freedom's Avatar
    Join Date
    Nov 2009
    Posts
    2,399
    Mentioned
    0 Post(s)

    Default

    NAMA 'can't touch' developers' wives

    Are we talking "soft touch" or "light touch" here?

  10. #10
    Politics.ie Member
    Join Date
    Mar 2010
    Posts
    1,452
    Mentioned
    0 Post(s)

    Default

    Is there not another avenue of pursuit? I thought they could be pursued through the courts and that the transfer of assets period was 3 yrs?

Page 1 of 9 12345 ... LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •