How on earth do you know about their garden? Maybe they’ve no time what with running two food restaurants and kitting out their house with top stuff. I wonder how they juggle that with four young children.Seems that they are unable to cut their grass in their garden either.........oh hang on........we will probably have an article about her leaving her grass long ........for the poor bees......
And the deal they got. So utterly utterly stupid not to walk away.
Ross Maguire has recently got involved with them according to the report in the papers last weekthey were offered a brilliant deal, i cannot understand why they didnt take it, whoever is advising them has a lot to answer for also.
At home with Pamela Flood: ‘I am a total hoarder’
The above article should be read in conjunction with the previous ones.
- A Lacanche cooker (which Ronan “insisted on”); these appear to be hand-made in France and vary in price from €5k to €27k.
- An Anne Madden painting (Louis Le Brocquy’s wife).
- Patrick O’Reilly sculptures.
It will be interesting to see if they have gone too far or if their brass neck has earned them another two months, at least, rent free.
- A Lacanche cooker (which Ronan “insisted on”); these appear to be hand-made in France and vary in price from €5k to €27k.
-
So far brass neck has served them well. People tend to keep doing what works.
It will be interesting to see if they have gone too far or if their brass neck has earned them another two months, at least, rent free.
My guess is the latter.
Of course the art and cooker will have been paid for by Pamela, who does not pay rent, or anything towards the mortgage - she acquiring property rights as a spouse, but not being liable for her husband's mortgage. So all 'assets' will be her's. And that cooker and art will be leaving the property you can be sure when they eventually vacate it.That is just astonishing!
If a lender had told me that he had customers refusing to pay their mortgage but buying top of the range cookers and art, I wouldn't have believed him.
Brendan
Ironic that the Anne Madden painting is titled "Icarus" - wasn't he the one who flew too close to the sun and his wings melted causing him to fall to Earth?
Perfect Celtic Tiger allegory!
Is Maguire effectively advocating strategic default?'Pamela was being rushed to surgery while they were setting up viewings' - restaurateur Ronan Ryan on battle to keep €900k home
Ronan Ryan has opened up about the struggle he and his wife, former RTE presenter Pamela Flood, faced over nine years as vulture funds attempted to sell their family home.www.independent.ie
Woe is me
On advice from New Beginning, whose founder Ross Maguire is advising the couple, Ross and Pamela have vowed to stay in their €900,000 home, insisting they intend to fight back against the vulture fund seeking to repossess it.
Mr Ryan recently obtained a protective certificate under personal insolvency legislation which means they can not be interfered with by anyone for 70 days."..
"Meanwhile Ross Maguire, adviser to Mr Ryan, said any anger levelled at the couple has been misdirected.
"I understand people being angry when it looks as though people are deliberately not paying their mortgage. I think that creates a justifiable anger," he said.
"But when you look at the actual situation - and this would apply in many cases where the person believes 'I am goosed, I am going to lose this house' - if that is the case, if you believe you have lost your house then, leave out the morality of it, it doesn't make any commercial sense to make payments because you are losing the house anyway.
"So in the case of Ronan and Pamela - where the bank or the funds say 'listen, give us back the house and we will write off the debt', then it doesn't make any sense to make payments because why would you make payments against a debt that has been effectively written off? You might as well take your cash and throw it into the river Liffey. It's gone. You'd be wasting it."
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