Over 8 years of non payment and no repossession

Clamball

Frequent Poster
Messages
78
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.
 

MrEarl

Frequent Poster
Messages
1,725
Lots of families (of six people, incl. four children) manage just fine living in a house that isn't in Clontarf.

If there's any justice in this world, these guys need to be put out of the house, and prosecuted for the full amount due.

They've enjoyed a great life in a fine house rent free for over eight years, while many other struggled to pay their mortgage, or being unable to pay, had to sell or surrender their homes. That's just wrong ..... I'm not saying that people shouldn't be given time to resolve issues, or help when it's needed, but Ronan has extracted the michael big time.
 

Andrew365

Registered User
Messages
82
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.
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.

If being offered to walk away from the debt and the house and with jail time and option as they've turned it down they must believe that they are going to win and keep the house.

My opinion is they will try and get a judge to rule that the fund has to accept their offer of monthly repayments.
 

Delboy

Frequent Poster
Messages
1,571
Lets see how immediate 'immediate possession' really is...
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.
 

noproblem

Frequent Poster
Messages
1,710
Be interesting to see what happens now, or is it too late for a Genei to suddenly jump out of a magic lamp?
 

Seagull

Frequent Poster
Messages
1,179
Given that all costs were awarded against them, I'd guess quite possibly another visit to bankruptcy court.
 

SBarrett

Frequent Poster
Messages
3,056
Given that all costs were awarded against them, I'd guess quite possibly another visit to bankruptcy court.

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.
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.

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.


Steven
www.bluewaterfp.ie
 

Luternau

Frequent Poster
Messages
884
Was it not that the house was being repossessed with approximate value of 900k, and Tanninger was not going to seek the shortfall of some 300k? No liability for the €1.25m?
Having lived mortgage free for so long while seeming to enjoy the trappings of a good lifestyle, they decided they could get a better deal through the insolvency system. It looks to have backfired in a very public way.
 

Brendan Burgess

Founder
Messages
37,862
Has 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.

Brendan
 

ClubMan

Frequent Poster
Messages
43,865
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.
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?
 

Dazzler123

Frequent Poster
Messages
52
Has 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.

Brendan
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
 

Dazzler123

Frequent Poster
Messages
52
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?
Well if you dont pay your mortgage that frees up some income to pay the lawyers....
 

Trisha

New Member
Messages
1
So where is all this money coming from for these appeals? - in my opinion they should be put out on the street. Sorry, I've no sympathy for them when I think of all the folk struggling to pay their mortgages. They're left to their own devices now.
Correction: They have three kids, not four - Zach, Ronan's eldest is from a previous relationship - spends half the time with them apparently.
On eviction...he could go back to his mother's place.
 

Brendan Burgess

Founder
Messages
37,862
What the hell are Ross Maguire/New Beginnings doing getting involved in a pathological case like this?
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.

I would have thought that this issue of whether or not a Protective Certificate trumps a Circuit Court order for possession is worth airing in the High Court.

The High Court judge "reluctantly" granted a stay so that it could be appealed to the High Court.

The Barrister is doing his job.

The guy has lived rent-free for 9 years. He probably has plenty of money to pay legal fees.

If we as a Society allow a system where someone can live in their home for years without paying and without being repossessed, don't blame the barristers who advocate on behalf of their clients.

Brendan
 

Bronte

Frequent Poster
Messages
13,376

Fantastic legal shenanigans going on:

Judge Linnane said that the granting of the Protective Certificate had resulted in the implementation of the consent order made by the court being frustrated and undermined.

She said there had been a deliberate move by Ryan to frustrate and obstruct the implementation of the order and a conscious decision by him not to disclose to the insolvency judge the existence of the consent order.

Ryan, in an affidavit, told Judge Stewart today that Judge Linnane had based her determination on a finding that the insolvency legislation had not been enacted to afford protection to a debtor who had made no mortgage for almost nine years and who had made a complete turn-around without disclosing relevant material facts.
 

Conan

Frequent Poster
Messages
926
We regularly hear complaints about the mortgage interest rates in Ireland and how much higher they are compared to the rest of the EU. However the two recent high profile cases demonstrate the difficult of enforcing mortgage contracts even when a client pays nothing for 9 years. Re-possessions seem like an alien concept to the Courts even in clear cut cases. The concept that borrowers are expected to repay borrowings seems now to be questionable. How much more cost does that impose on compliant mortgage payers if rates are inflated to cover those who are non-compliant?
 
Top