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PJ1977

Northern Bank Receivership Portfolio

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Apols if this has been posted before but here's a portfolio of receivership cases the Northern has asked Osborne King to shift

http://www.osborneking.com/brochures/Fixed%20Charge%20Receiver%20Brochures.pdf

There's everything from studentland to Tyrone greenfields in it.

Northern have actually been the least badly exposed local bank when it comes to commercial property - they've been in clear profit for the lasy two quarters.

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Northern have actually been the least badly exposed local bank when it comes to commercial property - they've been in clear profit for the lasy two quarters.

Looks like I may have got ahead of myself in light of Northern's half year figures today - the loss they made in Q2 translated into a loss for the whole of H1.

Operating profit was well down and perhaps most worrying the Q2 impairment charge (while miles off the peak) was double that in Q1.

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Looks like I may have got ahead of myself in light of Northern's half year figures today - the loss they made in Q2 translated into a loss for the whole of H1.

Operating profit was well down and perhaps most worrying the Q2 impairment charge (while miles off the peak) was double that in Q1.

perhaps they dont like the obivs as much as the tax payers bank

rock on!

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Apols if this has been posted before but here's a portfolio of receivership cases the Northern has asked Osborne King to shift

http://www.osborneking.com/brochures/Fixed%20Charge%20Receiver%20Brochures.pdf

There's everything from studentland to Tyrone greenfields in it.

Planning files reveal that the Crumlin Road apartment development (they've got the structural steel in, but not much else) was a Lavelle and McAlinden project.

L and McA are clearly in some form of diffs then - there's a line on the Gartlan Furey (Dublin solicitors) website stating they are "acting for the receiver appointed over the assets of Lavelle and McAlinden" - various papers in the south say KPMG is said receiver.

I can find no trace of the company either at Companies House or the CRO - were they registered under an obscure name or did they trade on an unlimited basis?

All in it's been a bad year for Fergal http://news.bbc.co.uk/1/hi/northern_ireland/8692788.stm

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Planning files reveal that the Crumlin Road apartment development (they've got the structural steel in, but not much else) was a Lavelle and McAlinden project.

L and McA are clearly in some form of diffs then - there's a line on the Gartlan Furey (Dublin solicitors) website stating they are "acting for the receiver appointed over the assets of Lavelle and McAlinden" - various papers in the south say KPMG is said receiver.

I can find no trace of the company either at Companies House or the CRO - were they registered under an obscure name or did they trade on an unlimited basis?

All in it's been a bad year for Fergal http://news.bbc.co.uk/1/hi/northern_ireland/8692788.stm

The scary bit is they were not a Limited Company. Can not for the life of me know why. PJ, you will be well aware of what happens to them now.Anglo moved on them and I think BDO have been appointed.

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The scary bit is they were not a Limited Company. Can not for the life of me know why. PJ, you will be well aware of what happens to them now.Anglo moved on them and I think BDO have been appointed.

Though I suppose the widespread use of PGs meant nearly everyone was, in effect, trading on an unlimited basis. There was an Ulster Bank case at the commerical court in Dublin where Justice Peter Kelly, asked rightly why anyone “in their right mind” would sign personal guarantees for unlimited liabilities.

Some of the big boys down south have been unlimited to prevent anyone looking at their accounts - Liam Carroll for one. Paddy McKillen's main southern vehicle is also unlimited.

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Though I suppose the widespread use of PGs meant nearly everyone was, in effect, trading on an unlimited basis. There was an Ulster Bank case at the commerical court in Dublin where Justice Peter Kelly, asked rightly why anyone “in their right mind” would sign personal guarantees for unlimited liabilities.

Some of the big boys down south have been unlimited to prevent anyone looking at their accounts - Liam Carroll for one. Paddy McKillen's main southern vehicle is also unlimited.

cant have every tom, dick or pj being a nosey b*gger

can we?

rock on!

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  • 145 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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