I don't but I believe they do think that. They offered to pay 3,700 a month and a lump sum of 80k, so I think that shows they can afford property not just in the area. I think more so that they would struggle to find a bank that would give them another mortgage.I suppose Andrew365 my question is why you think they need to buy a similar property, surely all they need and hopefully can afford is to rent a small house/apartment. I think they have demonstrated they cannot afford to purchase a property at all.
There was a deliberate move by former Miss Ireland Pamela Flood’s husband Ronan Ryan to frustrate and obstruct the implementation of a court order handing their home back to a vulture fund, a judge stated today.
Judge Jacqueline Linnane added that there was also a conscious decision by him not to disclose in separate insolvency proceedings the existence of a consent court order granting Tanager fund possession of the couple’s home.
She granted Tanager leave to execute the consent order for possession made on March 8 last against Ryan. The insolvency proceedings did not involve Ms Flood who remains under an obligation to immediately vacate her family home at 136 Mount Prospect Avenue, Clontarf, Dublin 3 with Ryan and their four children.
Judge Linnane’s judgment means that Tanager, through the Sheriff, can, should it wish to do so, take immediate possession of the property and put the family on the street.
Given that all costs were awarded against them, I'd guess quite possibly another visit to bankruptcy court.
Can't see how they were ever going to repay the amount owed anyway. They owe Tanger €1.25. Ryan is 49 in September, so the longest he has to pay off the debt is 21 years. Taking off the €80,000 lump sum he said he would pay, that's €6,250 at 3% per annum. Given they haven't made any repayments, have 4 kids and a new business, I find it very unlikely that they are going to meet their obligations.Tanager had agreed to limit the debt to the net proceeds of sale of the house, effectively writing off more than €300,000 with no order as to costs.
You'd think - but you might be surprised with the stupidity of some people when it comes to the banks...Not making any payments for so long while thousands more struggled through the lean times means they will get very little sympathy from the public.
Theres no real cost to them appealingto the high court and they will get another year without payments. Then they can go to the court of appeal for another year or two. Bit of a jokeHas he lost anything by trying the insolvency route?
There is a good chance that they will appeal the Circuit Court's decision and the High Court might decide that he is protected by the legislation.
Of course, they might also uphold the Circuit Court's decision that he was abusing the system.
But he hasn't lost anything.
Well if you dont pay your mortgage that frees up some income to pay the lawyers....You'd think - but you might be surprised with the stupidity of some people when it comes to the banks...
What the hell are Ross Maguire/New Beginnings doing getting involved in a pathological case like this?
And (how) are they being paid?
It's a good question but I think that barristers are supposed to put their clients' cases forward as best they can. They don't have to believe in their client's case and they don't have to like the client.What the hell are Ross Maguire/New Beginnings doing getting involved in a pathological case like this?
At that rate if he's saving money away he'll have enough to buy a house in cash eventually.Theres no real cost to them appealingto the high court and they will get another year without payments. Then they can go to the court of appeal for another year or two. Bit of a joke