Ivan Yates leaving Ireland for bankruptcy

ajapale said:
Does any one share my sympathy for Ivan Yates, his family, former employees, creditors and business associates in this case?

He has undoubted ability as a business man and I hope that this move will allow him draw a line under the collapse of his business and perhaps allow him move on to his next venture.
Click to expand...

I do.

I think he was at worst naive in that he expanded too quick, which can end in disaster if not handled and financed properly.

A poster above intimated that he is now contributing to the country's problems instead of contributing to the solution, which I think is way off the mark and takes no account of the employment he created and all the taxes that were paid over the years.
 
I wouldn't worry about Ivan Yates...he comes across as a very shrewd and pragmatic person imo and will be fine. Maybe he'll do a Sean Gallagher and run for president?
 
callybags said:
I he is now contributing to the country's problems instead of contributing to the solution.
Click to expand...


I feel more sorry for those adicted to gambling that bookie shops have little mercy or social responsibility.

Ivan Yates had all the answers.
 
cork said:
I feel more sorry for those adicted to gambling that bookie shops have little mercy or social responsibility.

Ivan Yates had all the answers.
Click to expand...

Your post makes no sense.

You have quoted me where I was quoting a previous poster.

What mercy would you like bookie shops to show? Are you advocating that they all be closed down?

What about pubs?; fast food outlets?; racecourses?
 
I liked him on the radio but not sure I feel sorry for him. Shame to see anyones business fail but having a State Pension of €49k to fall back isn't bad. Earning almost €250k in a pension before turning 50 while lecturing serving politicians on the need to cut costs and services annoyed me also.
 
When asked if he would take a cut in his pension he said there were (€)5 million reasons why AIB wouldn't let him.
 
Purple said:
When asked if he would take a cut in his pension he said there were (€)5 million reasons why AIB wouldn't let him.
Click to expand...

Same could be said for everyone earning less who have taken paycuts in the public sector. As I say, I found him good on the radio and it was nice to have someone who had been on the inside asking the questions because he was often able to cut through political waffle but I did think his calls for current public sector pay to be cut a bit rich.
 
Sunny said:
Same could be said for everyone earning less who have taken paycuts in the public sector. As I say, I found him good on the radio and it was nice to have someone who had been on the inside asking the questions because he was often able to cut through political waffle but I did think his calls for current public sector pay to be cut a bit rich.
Click to expand...

To clarify; he said that he'd take any cut that was forced on him but he wasn't allowed to take a voluntary cut by the bank.
 
callybags said:
A poster above intimated that he is now contributing to the country's problems instead of contributing to the solution, which I think is way off the mark and takes no account of the employment he created and all the taxes that were paid over the years.
Click to expand...

I posted this and if you go back and actually read what I posted you'll see that I acknowledged the employment created by his companies. It's the hypocrisy that he's displaying that bugs me.

Do I have sympathy for him personally?
Absolutely.

Do I think running to the UK to declare banckruptcy is hypocritcal? Absolutely.

Would or do we have the same level of sympathy for property developers taking the same approach, even though they also created jobs and tax revenue during the boom? I doubt it. By leaving a state bank with millions of euro in debt that will never be repaid, he would be contibuting to the banking crisis, specifically AIB's problems; of that there can be no doubt.
 
aonfocaleile said:
By leaving a state bank with millions of euro in debt that will never be repaid, he would be contibuting to the banking crisis, specifically AIB's problems; of that there can be no doubt.
Click to expand...

The taxpayer will then continue paying this guy a pension.

Yates had all the answers. He is like many TV/Radio pundits.
 
Is there a difference in the way UK bankrupcy practice deals with pensions?

It is worth noting that Ivan Yates had betting shops in South Wales which would facilitate his applying progressing the bankrupcy in the UK.
 
ajapale said:
Is there a difference in the way UK bankrupcy practice deals with pensions?
Click to expand...

They generally can't touch a pension as long as it was registered with the UK Revenue. An Irish pension generally wouldn't be so could potentially be claimed. Think the Courts have discretion on this though so it is uncertain on what would happen.

Either way, the discharge period means that he would be only be required to lose his excess income over basic cost of living for 3 years. After that he is free of debt and back earning a 50k pension from the State. To be fair to him though, didn't he put his house up as security?
 
Who was the guy on this mornings show with Chris instead of Ivan

It wasnt the usual guy who stands in for Ivan/Chris?
 
He sounds like one of the print journos that appear on many of the radio stations on a stand in basis.
 
Sunny said:
Was it Michael Clifford from the Sunday Tribuine?
Click to expand...

Shane Coleman. Previously Political Correspondent with the Sunday Tribune. I presume he's now with Newstalk cos he's on air there a lot - with George Hook, Sunday morning panel discussion.
 
You must log in or register to reply here.
Back
Top