DJ Carey

[Happyhonkaman]

Do you think it right and proper that some people were pressurised each and every day about repayments, while others owing far far more, were allowed write down their debts to the same bank? I certainly don't.

People in this country unfortunately felt they'd no other option but to take their own lives such was the financial pressure they were put under, and then there were c*nts like Carey, playing on people's heart strings, claiming he had a terminal illness, who was given huge latitude.

Personally, I think it would be a very good exercise to see under what criteria was Carey given such a huge write down. And if others were or weren't given the same percentage write down under similar circumstances. And who made such decisions and what was their reasoning.

If it was a privately run company and one of the managers decided to write off a large debt of a customer I'm sure there'd be an investigation at boardroom level asking why such a move was made, and if similar was made to other customers. No?

Hand him a cup and go begging again??? - he got a 30K in just one donation from the GPA subsequently. You can be damn sure he hasn't been starving or homeless the last few years. The c*nt!

He has no money - if he has he has perjured himself in court as it was stated that he has no means now, and would have made a similar case at his insolvency

But you would like to spend another chunk of change doing a forensic audit of how that decision was made, and at the end they may well decide that the terms were too favourable, and he should have had the debt written down to 20% and therefore now owes a couple of hundred thousand, but the fact remains that he has no capacity to repay it. The country now also owes some auditor €20k for their troubles

Is this not the very definition of throwing good money after bad?

 

[Matlock]

He has no money - if he has he has perjured himself in court as it was stated that he has no means now, and would have made a similar case at his insolvency

But you would like to spend another chunk of change doing a forensic audit of how that decision was made, and at the end they may well decide that the terms were too favourable, and he should have had the debt written down to 20% and therefore now owes a couple of hundred thousand, but the fact remains that he has no capacity to repay it. The country now also owes some auditor €20k for their troubles

Is this not the very definition of throwing good money after bad?

The only value is a deterrent. I don't personally think that is sufficient for the cost.

 

[Henrys Fonda]

Do you think it right and proper that some people were pressurised each and every day about repayments, while others owing far far more, were allowed write down their debts to the same bank? I certainly don't.

People in this country unfortunately felt they'd no other option but to take their own lives such was the financial pressure they were put under, and then there were c*nts like Carey, playing on people's heart strings, claiming he had a terminal illness, who was given huge latitude.

Personally, I think it would be a very good exercise to see under what criteria was Carey given such a huge write down. And if others were or weren't given the same percentage write down under similar circumstances. And who made such decisions and what was their reasoning.

If it was a privately run company and one of the managers decided to write off a large debt of a customer I'm sure there'd be an investigation at boardroom level asking why such a move was made, and if similar was made to other customers. No?

Hand him a cup and go begging again??? - he got a 30K in just one donation from the GPA subsequently. You can be damn sure he hasn't been starving or homeless the last few years. The c*nt!

You know AIB write off debts daily? Big and small, once they have seized the asset concerned in the borrowing and exalted remaining avenues.
They go to court then to recoup assets remaining in the form of a judgement .
Carey in this case, handed the properties to be sold and has no assets to recoup further hence the windfall clause attached to his judgement.
You can’t get blood from a stone and it pointless spending more money chasing the stone.

 

[Vladimir The Bear]

You know AIB write off debts daily? Big and small, once they have seized the asset concerned in the borrowing and exalted remaining avenues.
They go to court then to recoup assets remaining in the form of a judgement .
Carey in this case, handed the properties to be sold and has no assets to recoup further hence the windfall clause attached to his judgement.
You can’t get blood from a stone and it pointless spending more money chasing the stone.

Does Carey have to repay any chunk of future earnings or is he deemed completely debt free now?

Didn't they say on that programme last night that if he made over €50k in earnings within 5 years no matter how the earnings were acquired then he was to repay some of it back. As it transpired he made far more then that in the years after and never disclosed it, so can the bank go after him again for possible future earnings or for possibly another prison sentence?

 

[Henrys Fonda]

Does Carey have to repay any chunk of future earnings or is he deemed completely debt free now?

Didn't they say on that programme last night that if he made over €50k in earnings within 5 years no matter how the earnings were acquired then he was to repay some of it back. As it transpired he made far more then that in the years after and never disclosed it, so can the bank go after him again for possible future earnings or for possibly another prison sentence?

AIB have a windfall clause attached to him, so if he comes in to large amounts of money they get it.

 

[Vladimir The Bear]

AIB have a windfall clause attached to him, so if he comes in to large amounts of money they get it.

But didn't he come into a large amount of money €135k from Denis O Brien and €120k from Tom Brennan. How did he manage to keep that kind of cash from AIB?

 

[Henrys Fonda]

But didn't he come into a large amount of money €135k from Denis O Brien and €120k from Tom Brennan. How did he manage to keep that kind of cash from AIB?

Was that before the AiB court case?

 

[leeside_rebel]

From previous cases I don't think that Carey got any preferential treatment in the AIB case. There's been loads of individuals had millions written off.
Couple of them in Cork recently enough too. Well known guy in GAA circles had €170 million reduced to €80 k.
A Cork publican had 54 million written off.

 

[ollie_out_west]

From previous cases I don't think that Carey got any preferential treatment in the AIB case. There's been loads of individuals had millions written off.
Couple of them in Cork recently enough too. Well known guy in GAA circles had €170 million reduced to €80 k.
A Cork publican had 54 million written off.

I presume this is the Cork publican who your referring to?.......The irony for this forum is that he's actually from Kilkenny

 

[Fox Leary]

From previous cases I don't think that Carey got any preferential treatment in the AIB case. There's been loads of individuals had millions written off.
Couple of them in Cork recently enough too. Well known guy in GAA circles had €170 million reduced to €80 k.
A Cork publican had 54 million written off.

It’s completely normal, but it won’t stop the Facebook headbangers trying to join the dots seeing it as some kind of bank/GAA/FFG conspiracy to shaft the general public, no doubt followed by their favourite quote “it’s a big club and you ain’t in it”.

The fact is banks do large write-downs to clean up their balance sheets by removing non-performing loans. It makes business sense. You can’t squeeze blood from a stone, why sink another 50k in legal and admin costs trying to recover a debt that will never be repaid.

The call to write down the loan is completely understandable, the call to give him the loan in the first place, less so. But the same question can be asked of literally thousands of loans approved pre-crash.