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House Price Crash Forum


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Everything posted by CCJ

  1. AhHa! I note that DGA Harrison had been declared bankrupt (can't post link)
  2. Cerberus has appointed administrators to Castlebawn - a consensual agreement according to Fearghal Eastwood. For some reason I can't paste the link from BBC NI news.
  3. NAMA sell entire NI portfolio http://www.bbc.co.uk/news/uk-northern-ireland-26880492 Good news or bad news? Certainly gets NAMA off the hook but surely the yanks will want to carve up asap for a return?
  4. Hibernia REIT buys Ulster Bank portfolio. http://www.businessandleadership.com/business/item/44755-hibernia-reit-buys-67m
  5. Director's Guarantees were the norm from the late 90's in my experience. May be that in the case of the likes of MH and others that banks were falling over themselves to do business with these guys and PG's were refused by the directors so borrowings were geared up against asset values.
  6. Receiver appointed to Bloomfield Shopping Centre http://www.belfasttelegraph.co.uk/business/news/bloomfield-receiver-appointed-to-bangor-shopping-complex-30005683.html Bow Street Mall next?
  7. A third of the workforce redundant http://www.bbc.co.uk/news/uk-northern-ireland-25776211
  8. Turkington Holdings post large loss in 2012 http://www.bbc.co.uk/news/uk-northern-ireland-25658734
  9. Rumour that a major local estate agency has been sold to a multi national agency for a nominal sum after being unable to obtain P I insurance. Any truth?
  10. R retired as a director of MAR in March 2013
  11. Looks like Jennings brothers will come out of this ok! http://www.bbc.co.uk/news/uk-northern-ireland-24671390
  12. Director ban for McDaid http://www.bbc.co.uk/news/uk-northern-ireland-23094548
  13. Ulster Bank to sell and lease back main properties http://www.bbc.co.uk/news/uk-northern-ireland-22968963
  14. http://www.independent.co.uk/news/uk/politics/royal-bank-of-scotland-chief-stephen-hester-to-step-down-8656121.html I think this means split of RBS into good bank/bad bank and probably ominous for Ulster.
  15. Quote from Robert Peston "However there is another, more radical option also being assessed by the Treasury. Which would be to simultaneously take out of RBS the most troubled of its global operations, Ulster Bank, with its substantial lossmaking business in the Republic of Ireland and Northern Ireland. Ulster has £37bn of assets (loans and investments) on a risk-adjusted basis. One idea would be to transfer Ulster Bank into the arms and ownership of the Irish government, by swapping all or part of Ulster Bank for low quality British loans and investments currently owned by Ireland's National Asset Management Agency: NAMA inherited these stinky British assets when it acquired the problem loans of Ireland's reckless banks. There is a certain logic to Ireland taking control of Ulster Bank while the Treasury runs off the loans made in Britain by over-excited Irish banks. That said, the chancellor may conclude that the complexities of valuing all the relevant loans and the legal difficulties in transferring ownership may be too daunting".
  16. Nama release funding for Millmount development http://www.bbc.co.uk/news/uk-northern-ireland-22169113
  17. This really is a Developer in Trouble! http://www.bbc.co.uk/news/world-europe-21291356
  18. Confirmation http://www.belfasttelegraph.co.uk/news/local-national/northern-ireland/boutique-hotel-closure-surrounded-in-mystery-16261137.html Appears Bel Tel reporter didn't do much digging!!
  19. High Court Belfast Bankruptcy Proceedings 10 January 2013 10:00 WINDING UP PETITIONS 12/130733 ME & MRS JONES LIMITED Heard they hadn't been paying their food bills
  20. Killultagh snapshot http://www.belfasttelegraph.co.uk/business/business-news/company-snapshot-killultagh-estates-ltd-16251882.html
  21. I think that unit has been empty for a while now. See Portstewart's latest hotel is in diffs from your link, Me & Mrs Jones
  22. This two year old article is worth revisiting in light of developments http://www.bbc.co.uk/news/uk-northern-ireland-11450298 Quinn underestimated the situation a bit! Always speculated that some of the big ones would be the last to go.
  23. Obel repossessed http://www.bbc.co.uk/news/uk-northern-ireland-20561118
  24. http://www.bbc.co.uk/news/uk-northern-ireland-20311520 **** happens - is the only outcome here.
  25. More evidence of tight margins http://www.belfasttelegraph.co.uk/business/company-profiles/company-snapshot-john-graham-holdings-ltd-16234319.html
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