Johnny Ronan



cyberianpan

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Someone should ring 999 and get an emergency barber sent his way...he is FAR too hairy



Cyp
 

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https://www.independent.ie/business/commercial-property/developer-johnny-ronan-seeks-45m-for-stylebawn-house-and-14-acres-in-wicklow-36877416.html


Is sure does sound that this long held property somehow is not going to contribute to Johnny's/Treasury debts at Nama and thereon the taxpayer.
He paid off all his debts in full.

A statement from Mr Ronan’s company said a €300m transaction had taken place today, which fully repaid what he had owed to the National Asset Management Agency.
https://www.rte.ie/news/business/2015/0401/691460-johnny-ronan-nama/
 

hoipolloi

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Yes, wasn't he terrific.

Ronan paid off €400m worth of borrowings associated with his own private investments.

In October 2012 the High Court appointed liquidators to Treasury Holdings and 16 related companies. The move followed a decision by Treasury not to resist a winding-up application by one of its banks, KBC, over a debt of €55m.

NOT SO GREAT, THOUGH:

Treasury had debts of €2.7bn, €1.7bn of which was owed to the National Asset Management Agency.[6]
 

gaiusc

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A lot of people don't seem to realise that Treasury Holdings was an unlimited liability company but used a loophole to get the directors off the hook for what should have been full liability for their debts.
 

Boy M5

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A lot of people don't seem to realise that Treasury Holdings was an unlimited liability company but used a loophole to get the directors off the hook for what should have been full liability for their debts.
I had no notion
 

cyberianpan

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Word is Johnny Ronan has gone full blown hairy, and is running with the goats in Ennis

Cyp
 

stanley

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A lot of people don't seem to realise that Treasury Holdings was an unlimited liability company but used a loophole to get the directors off the hook for what should have been full liability for their debts.


A fair assumption would be, he was caught only under Personal Letters of Guarantee to individual banks and unless they had specific assets allocated to those L/Gs, he walked, probably had monies offshore, left Nama with huge debts over Battersea which they may have broken even on due to a National Investment Fund from Malaysia taken over the whole debt.

Yet Ronan is alive and well on Irish market again, should change his name to Lazaurus, would not think his lifestyle has changed much, his remark to Bertie at opening of Convention centre "keep pulling for us" sticks out.
 
Last edited:

gerhard dengler

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A fair assumption would be, he was caught only under Personal Letters of Guarantee to individual banks and unless they had specific assets allocated to those L/Gs, he walked, probably had monies offshore, left Nama with huge debts over Battersea which they may have broken even on due to a National Investment Fund from Malaysia taken over the whole debt.

Yet Ronan is alive and well on Irish market again.
And haunting daily one of the largest architectural practices in the country.
 

mr_anderson

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A lot of people don't seem to realise that Treasury Holdings was an unlimited liability company but used a loophole to get the directors off the hook for what should have been full liability for their debts.

Can you elaborate please ?
 

gaiusc

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Can you elaborate please ?
The two put together an extraordinary property portfolio through the Treasury Holdings group. Ronan was a director of 323 companies and Barrett of around 299. The group company was unlimited liability, which ordinarily should mean its directors were personally liable for its debts.

But like so many other private Irish companies, it availed of a loophole where the unlimited-liability company in Ireland is actually owned by a limited-liability company in Jersey or the Isle of Man.

This enables the principals to avoid filing accounts with the Companies Office here, while also not being saddled with unlimited liabilities if it all goes wrong.
Linky
 

stanley

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Yes, wasn't he terrific.

Ronan paid off €400m worth of borrowings associated with his own private investments.

In October 2012 the High Court appointed liquidators to Treasury Holdings and 16 related companies. The move followed a decision by Treasury not to resist a winding-up application by one of its banks, KBC, over a debt of €55m.

NOT SO GREAT, THOUGH:

Treasury had debts of €2.7bn, €1.7bn of which was owed to the National Asset Management Agency.[6]

Quite safe to assume the taxpayer took a hit of 1bn before Nama took over.

A lot of borrowings Ronan and Barrett took on were directed into China,
 

hammer

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He used to get around in a Maybach I think it is.

Not much change out of €500,000 I believe :)
 

Trainwreck

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He used to get around in a Maybach I think it is.

Not much change out of €500,000 I believe :)
I think you'll find that is how much it would have depreciated over the last 10 years, not what it is worth.
 

mr_anderson

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He used to get around in a Maybach I think it is.

Not much change out of €500,000 I believe :)

They've aged badly.
And also extremely expensive to repair.

[video=youtube;L2bmLCLq1dE]https://www.youtube.com/watch?v=L2bmLCLq1dE[/video]
 


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