Sean\’s Sicily

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Dodgy Developers Disposing of Assets

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The Minister of Finance, Brian Lenihan, has been spouting for ages that NAMA will pursue developers to the full extent of the law and their personal guarentees.  People would be losing houses left, right and centre.

Of course, it’s not going to be anything like that at all.  While you or me, if we owe money and can’t pay it back, will lose our homes, cars, posessions and anything else the bank can sell, people with good solicitors and money to pay for barristers won’t lose a fucking penny.

First of all, Lenihan has already provided an out for developers – the government can’t take a developers family home, even if it has been offered as security, if the wife didn’t “consent” to it.  Note the verb.  Not “Didn’t KNOW about it”.  Didn’t “consent” to it.  And as well all know, consent is a funny thing.  You can do something without having ‘consented’ to it.  Take statutory rape as a good example.  A young person cannot consent to sex. 

So now the door is open to good barristers;
“Your Honour, Mrs. X did sign that document, but she did so under pressure from her husband…” 
“Your Honour, Mrs. X did not have independent legal advice and could not have consented…”
“Your Honour, Mrs. X will testify that she did not read the document and was assured by her husband…”

So on and so forth.

And really clever people will already have transferred all the assets they can to other parties.  The Irish Indo have just published that Liam Carroll has transferred both his houses to his wife’s name way back in March.  A transparent attempt to avoid personal responsability for his crazy deals, yes.  Dodgy as fuck, yes.  Legal?  You bet your ass.

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Written by seancasaidhe

September 6, 2009 at 9:30 am

Posted in Ireland

Tagged with ,

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