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PJ1977

The Smartest Guys In The Room

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Christ on a bike, did you see the Kevin Magee report from their Donegal investment - a couple of vandalised semis and some foundations. The company builiding these is owned by prominent bankrupt Mervyn McAlister so it seems wildly optimistic to have only provisioned for a 50% writedown.

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The more I read into this the worse it looks.

The Duleek Partnership which the KPMG guys piled into was headed by Jim Mansfield jnr, a semi-literate thug and serial drunk driver.

WJ Law (Castleblaney) from which they still hope to extract half their 695k euros has been hit with a repayment demand by Bank of Ireland - but the WJ Law directors say they'll only raise that money by flogging the site or building it out. One for Nama most likely.

What's more the KPMG lads have a contingent liability here as JEAP has provided an interest shortfall guarantee on 10% of borrowings of 9.6m euros. So it could get even worse.

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No-one had the anticipation that prices would tumble as much as they have and really a lot of very clever, able people did get caught," he said.

:huh::rolleyes::lol:

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If this is the spokesman and president of the RICS in NI saying such rubbish then I know how much value to put on their valuations.

I've a good mind to pin this topic to remind new comers that financial "experts" RICS "experts" and very clever and able people should have their advice taken with a pinch of salt. It has never been more important to do your own research and trust your own judgement.

Couldn't agree more. I wouldn't listen to anything Tom Says.

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The more I read into this the worse it looks.

The Duleek Partnership which the KPMG guys piled into was headed by Jim Mansfield jnr, a semi-literate thug and serial drunk driver.

WJ Law (Castleblaney) from which they still hope to extract half their 695k euros has been hit with a repayment demand by Bank of Ireland - but the WJ Law directors say they'll only raise that money by flogging the site or building it out. One for Nama most likely.

What's more the KPMG lads have a contingent liability here as JEAP has provided an interest shortfall guarantee on 10% of borrowings of 9.6m euros. So it could get even worse.

Any links to case below?

http://www.independent.ie/business/irish/two-court-cases-on-cards-over-mansfield-dispute-2615358.html

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It has never been more important to do your own research and trust your own judgement.

I wouldn't listen to much advice from EA's either ... they too are experts at calling the market, after the event has happened :ph34r:

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  • 311 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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