Seanie Fitz and the Pension

C

Conan

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Is it believeable that Seanie's sole pension income is only some €50,000 p.a.? Did I read reports that he "transferred" some of his pension to his wife? How does one do that if the Pension is an occupational pension from Anglo? Did she get a Pensions Adjustment Order as part of a legal seperation? What is his wife's pension if that is the case?

Does he have an ARF as well? Did he already cash in some of this? It is just not believeable that his sole pension income from Anglo is an annuity payable by Irish Life (clearly the Pension Fund bought an annuity). Based on his service with Anglo and his salary, I would expect that his pension "entitlement" is closer to some €500,000 p.a.
So where did the rest of his pension pot go?

I cannot believe the this statement of affairs as reported today. Combined with the loan transfer reported yesterday, it appears a total scam.
 
Its time the media told the truth methinks.

Reports today are trying to suggest the poor man lives off €188 per month.

Poor Seanie.
 
RMCF said:
Its time the media told the truth methinks.

Reports today are trying to suggest the poor man lives off €188 per month.

Poor Seanie.
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Ha ha ha ha!! The Media is another arm of the government which works to keep us dumbed down and uniformed. Two hopes of getting the truth out of them.
Seánie is the fall guy and when this blows over he'll be well looked after.
 
Today's indo has more details

Catriona FitzPatrick could be entitled to half of her husband's €3.4m pension pot. Creditors will also be unable to touch her interest -- potentially worth as much as €2m -- in at least five properties co-owned with her husband.

[...]

Chris Lehane, the official assignee in bankruptcy, can also trawl through Mr FitzPatrick's financial transactions for the five years prior to him being declared a bankrupt last July. The Irish Independent has learned that Mr Lehane may seek to recover Mrs FitzPatrick's €1.7m interest in her husband's pension, if it can be demonstrated that she was never entitled to it in the first place.

A beaming Mr FitzPatrick (61), who was in court for the two-minute hearing, had no comment to make afterwards.

[...]

He said yesterday that his only sources of general income came from an Irish Life annuity, worth €55,295-a-year, and income of €51,900 on three rental properties. However, Mr FitzPatrick claimed that when mortgage payments, insurance, taxes, service charges, letting fees and other costs were taken into account, his income was now just €188 a month.
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I hope the court does look into his financial past - something doesn't add up here.
 
What does his wife do for a living anyway. Must be a pretty good job to have 3 million tucked away....Or wait...Am I missing something:confused:
 
Oh here we go folks...... look nothing is going to come of it. He is not going to be financially ruined, he is not going to be kicked out of his house. This is the country we live in, this guy will be untouchable. We might have a tribunal out of it lasting few years.

If we lived in China he would be sent to a forced labour camp.... but no... to many people attached to this & is he goes down he's going to bring someone with him.He is to protected.

......am I right or am I just feeling cynical today.......
 
Lets be honest, its not guys like SF who will pay for the crash, it'll be me and you, the ordinary man in the street struggling to pay the bills. It will be the nurses and teachers, those on small incomes and those already paying too much.

It would be great if the courts could just go and take every penny he has off him. IF only we lived in China and a few of these guys who caused it all were put to manual labour for their sins.

But, it is Ireland after all. The rich will look after the rich and the masses of innocents, and their children, will pay for it and we will like it.
 
My defined benefit pension fund closed last week after plunging into deficit in the past two years. I only had 28 years service. At least I will be kept busy now every day till I pop my clogs. My cousins child's heart operation has been postponed because of a shortage in ICU beds. My public servant wife - only a nurse - is donating extra money via her penison levy and getting lots of extra work to keep her busy because of the shortage of nurses.

Thank God important people like Seanie Fitzpatrick (though he owes his indigent wife €63000) who run our great little country do not have to go through what we little people are going through. I wouldnt wish it on my worst enemy.

Now, how will I spend the €196 that will be burning a hole in my pocket when I get it tomorrow...... eeny, miney, mo.
 
ninsaga said:
Oh here we go folks...... look nothing is going to come of it. He is not going to be financially ruined, he is not going to be kicked out of his house. This is the country we live in, this guy will be untouchable.
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Agree with you completely.

There are at least three separate so-called investigations going on for well over a year - Garda, Director of Corporate Enforcement, and Financial Regulator - and not one has been able to land a glove on Seanie. All three agencies are controlled by Seanie's buddies in Fianna Fail, so you could be really conspiratorial and say they have been told to back off.
 
markpb said:
Today's indo has more details

I hope the court does look into his financial past - something doesn't add up here.
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What was the article insinuating when it said?

"There were extraordinary scenes following the brief court appearance when the disgraced banker was given a warm welcome in the Barrister's Tea Room in the Four Courts.

A number of lawyers gathered in the law library's restaurant, shook his hand and joined him for mid-morning tea."
 
Seems we need an Elliot Ness for politics to get the untouchables locked up.
 
censuspro said:
What was the article insinuating when it said?

"There were extraordinary scenes following the brief court appearance when the disgraced banker was given a warm welcome in the Barrister's Tea Room in the Four Courts.

A number of lawyers gathered in the law library's restaurant, shook his hand and joined him for mid-morning tea."
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I don't think the article was insinuating anything. SF probably has a lot of friends in the so-called legal profession whom he would have met over the years. He probably plays golf with them when he visits his mansion in Spain, or is it Portugal?

According to one of the Sunday papers a couple of months ago, clever Seanie transferred said mansion into his wife's name prior to the collapse of Anglo Irish Bank, along with a lot of other assets. Seanie is no fool.
 
Would be interesting to know if the mortgage repayments on this three investment properties are interest only or interest & principal? If the latter, he is being allowed enrich himself (by reducing his outstanding mortgage balance) at his creditor's expense.
 
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