Tuesday, Oct 06, 2009

Liam Carroll finished

Irish Times: Zoe group not entitled to seek court protection

I take a great deal of interest in Irish market as I am hoping to relocate. This is great news as commentators felt that liquidating Zoe could exacerbate the Irish property crash (that's why the Irish banks supported Carroll's application for protection).
However, NAMA (ergo the taxpayer) will pick up the tab for the bad loans. Liquidating Zoe's assets will only cover about 25% of the loans made to Carroll. NAMA is a bailout for the most greeedy and corrupt.

Posted by tenant super @ 02:00 PM (703 views)
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