Government and bankruptcy

Murra

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Now that we are technically bankrupt, isn't it time that we had a declaration of LIABILITIES by any sitting TD's? Surely if they hold liabilities in any financial instutions that are technically bankrupt, they are no longer in a position to hold on to those seats?
 


VoteFFno1

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I am director of a company and if that company goes bust i will end up in court.
 

TODevastated

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I am director of a company and if that company goes bust i will end up in court.
not necessarily,

it would depend on your conduct as a Director of the Company prior to the company going bust-if you had been behaving according to company law/good governance etc and not in a reckless manner then

it would be unlikely that a liquidator would seek your restriction/disqualification pursuant to the Companies Acts

Overall it would depend upon the circumstances surrounding your company going bust
 

seabhcan

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I am director of a company and if that company goes bust i will end up in court.
That is usually not true. Companies go bust by the hour, and the courts would be clogged if every bust resulted in a court case.

You would only end up in court if you were accused by your shareholders, employees or suppliers of improper behavior, or if you traded while insolvent.

(I am also a company director)
 

Sync

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You know that any mortgage is a liability right?

 

WTTR

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Now that we are technically bankrupt, isn't it time that we had a declaration of LIABILITIES by any sitting TD's? Surely if they hold liabilities in any financial instutions that are technically bankrupt, they are no longer in a position to hold on to those seats?
It is not just the TDs that you need to worry about. If International Financial Buccaneers could run rings round Irish Society in the so called good time; they are now going to have a ball!
A society where “anything goes” is failing us!
We had a society with a robust economy; yet with people who would be regarded as well off, who were prepared to accept brown paper envelopes for unfair rewarding of contracts, land rezoning, planning permission etc. The tribunals have shown that quite a level of corruption existed. The balance of our society is lacking timeless and priceless values. Liberals mean well but have not the heart to stop a progressive rot in our society. What is the level of corruption going to be when people in positions of trust are up to their necks in Negative Equity? Can anybody whose family is threatened with penury or eviction be capable of making fair decisions; certainly there will be times that they maybe taken advantage of by unscrupulous buccaneers.

The security of the State will be threatened. Ireland and EU could be well on the way to having a society that will leave the likes of the former East Germany and its Big Brother State in the penny halfpenny place. Already professional people are obliged by law to report suspicious behaviour to the authorities; this rattles an individual who was never obliged to report anything but his own sins in confession. The Debt situation must be resolved: personal as well as banking and government debt; this can only be done by a complete change of tact on behalf of the EU.
John F Higgins.eu | the lisbon treaty
There does not seem to be anybody around that is capable of seeing the disaster ahead, never mind doing anything about it!
Today, when I am asked if anyone saw this crisis coming, I think back to the people I worked with in the derivatives groups at Morgan Stanley and First Boston, and my answer is yes. We invented the products that ultimately blew up the banks. We created the instruments at the center of the subprime mortgage meltdown. We fostered a culture of epic greed, which nearly destroyed the financial system.
Yes, we saw it coming. How could we not?
Frank Partnoy: Derivative Dangers : NPR
You are right to be afraid on how Negative Equity etc could impasse on our politicians’ decision making process. But what is more interesting is what caused them to be so unaware of what was happening around them for the past ten years, despite attempts by well meaning citizens with no base goal of material reward to warn them of the rot that was developing. It just did not click with them :confused:
 
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vanla sighs

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I am director of a company and if that company goes bust i will end up in court.
If you're a FF politician you could end up in court regardless.
 

Murra

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My point is this - I believe that a bankrupt is by law, unable to sit in office. If it was the case that our TD's were now bankrupt because of involvement in business interests that were no longer viable, or were bankrupt, then they should be removed from that office asap. They have no right to hold it.

i.e. can the government be brought down if government TD's declare their liabilities in a bankrupt company or institution?
 

dalywise

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The country still has money though to pay for Fianna Fail ministers to traipse around Donegal campaigning in cars and using fuel payed for by taxpayers. I hope a question is put dowm asking the cost of transporting these traitors and cretins to campaign for their corrupt rotten sewer of a party.
 

Squire Allworthy

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I like the idea of treating the TDs of the government parties as directors in a bankrupt company. We should definitely take this a little further;

All assets belonging to them should come under the control of the Trustee, including their homes. and they should not be allowed to;
  • Obtain credit of £250 or more without disclosing his or her bankruptcy
  • Conduct business directly or indirectly in any name other than that in which he or she was made bankrupt
  • Be involved directly or indirectly in promoting, forming or managing a company without the Court’s permission
  • Hold public office
That should be a lesson of any future administration.
 

Murra

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If they were asked to declare their liabilities (or forced to) we might find that some of them are stakeholders in properties and deals that have gone to the wall, but to date, nobody has asked the right questions.
 

richie268

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[ame=http://www.youtube.com/watch?v=-VNzh65tMdU]YouTube - Troy Cassar - Daley - Nightblindness (Samson and Delilah Original Soundtrack)[/ame]
 

Superindigoman

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Oct 1, 2010
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We blabble on about doing this and that to FF cronies, bring them to justice etc, it won't happen, the Irish as a people don't stand up and do anything, they just talk about it, this is a big part of the problem with this Country.
Nothing will happen and FF will carry on as normal and after a couple of years in opposition they will be voted back in and the cycle will continue as normal, ah sure we should just all go and commit suicide, ha
 


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