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Not 'Not Paddy Kelly's car' seized by bailiffs at request of ACC

He3

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Is nothing safe?

ACC BANK has seized a BMW saloon car from the Donnybrook home of developer Paddy Kelly.

Bailiffs acting on foot of a warrant to the Dublin city Sheriff’s Office took the seven-year-old 7 Series yesterday.

The car was featured in an article in The Irish Times last month when Mr Kelly spent a day with Irish Times assistant editor Fintan O’Toole travelling to developments around Dublin and its environs.

Mr Kelly, who owes various banks €350 million, was unapologetic in the article about the extent of his debts.

Two weeks ago he appeared at the MacGill summer school in Co Donegal, where he once again seemed apparently untroubled by his borrowings and drank champagne conspicuously while joking about the car and his lifestyle.

Mr Kelly said yesterday that the car, which was seized without warning when Mr Kelly was not in the house, belonged to his wife, and had been taken unlawfully.


Luxury car seized at home of developer Paddy Kelly - The Irish Times - Fri, Aug 06, 2010

This will run and run.
 
Last edited:


DCon

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Did the car belong to his wife or did he put it in the wife's name to try and stop creditor's taking it?
 

He3

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The moral is, do not give Fintan O'Toole a lift.
 

Sync

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Meh. Pay your debts or pay the consequences.
 

The Underdog

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Is nothing safe?

ACC BANK has seized a BMW saloon car from the Donnybrook home of developer Paddy Kelly.

Bailiffs acting on foot of a warrant to the Dublin city Sheriff’s Office took the seven-year-old 7 Series yesterday.

The car was featured in an article in The Irish Times last month when Mr Kelly spent a day with Irish Times assistant editor Fintan O’Toole travelling to developments around Dublin and its environs.

Mr Kelly, who owes various banks €350 million, was unapologetic in the article about the extent of his debts.

Two weeks ago he appeared at the MacGill summer school in Co Donegal, where he once again seemed apparently untroubled by his borrowings and drank champagne conspicuously while joking about the car and his lifestyle.

Mr Kelly said yesterday that the car, which was seized without warning when Mr Kelly was not in the house, belonged to his wife, and had been taken unlawfully.


Luxury car seized at home of developer Paddy Kelly - The Irish Times - Fri, Aug 06, 2010

This will run and run.
They must have thought that the car was in his name. Do they really think he'd be that stupid ?

Mr Kelly said he had never owned the car and that the sheriff’s office had evidence the car was in his wife’s name prior to seizing it. Last month Mr Kelly told The Irish Times that he had bought the car in 2003 for €139,000. . . .
Two weeks ago he appeared at the MacGill summer school in Co Donegal, where he once again seemed apparently untroubled by his borrowings and drank champagne conspicuously while joking about the car and his lifestyle.
I wonder why he didn't give Dempsey a lift ?
 

constitutionus

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What's a 7 yo Beamer worth ? 12K maybe ?

A bit to go yet.
about that, maybe 18 at most.

you could shop around online and get one cheap enough, you'd be amazed how quickly cars depreciate , especially the swa nky ones.

on the wife thing as far as i know theres nothing stopping him flogging it to her for a quid so it could be on the level.

either way it shows how hard the NON irish banks are playing with these guys. i'd swear there was another story today about ulster bank but for the life of me its gone right out of my head.

guess this shows why everyone delt with anglo or the big two.
 

Sync

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about that, maybe 18 at most.

you could shop around online and get one cheap enough, you'd be amazed how quickly cars depreciate , especially the swa nky ones.

on the wife thing as far as i know theres nothing stopping him flogging it to her for a quid so it could be on the level.

either way it shows how hard the NON irish banks are playing with these guys. i'd swear there was another story today about ulster bank but for the life of me its gone right out of my head.

guess this shows why everyone delt with anglo or the big two.
BMW 7 Series 730d ***Reduced from ?18950*** - €15,950 (13,317) - Used Cars on Autotrader.ie - New & Used Cars in Ireland

€15500. Who the hell boasts about having a 7 year old BMW?
 

johnfás

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either way it shows how hard the NON irish banks are playing with these guys. i'd swear there was another story today about ulster bank but for the life of me its gone right out of my head.

guess this shows why everyone delt with anglo or the big two.
The foreign banks would love to have got the deal that the Irish banks got through NAMA. They weren't offered the deal and they are acting accordingly. Its got nothing to do with the ethos of the given bank. ACC isn't a great white knight. It is simply acting in its own self interest in the face of not being offered entry to NAMA, in the same sense that the Irish banks are acting in their own self interest in the face of being offered entry to NAMA.
 

johnfás

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Perhaps some of the developers are trying to rebrand themselves as old wealth, rather than upstarts. You know... the type of people who are filthy rich but drive around in old bangers because they couldn't care less. The only problem is such people wouldn't drive a 7 year old BMW and probably do have a PhD from Oxbridge, with an accent to boot. Our lot can only try...
 

oceanclub

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Hopefully after this, they also seize his son's computer so he's not able to write any more self-serving, violence-inducing articles for the Tribune and Indo, defending Anglo, developers and everyone else who got us into this mess.

P.
 

constitutionus

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MsAnneThrope

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Hopefully after this, they also seize his son's computer so he's not able to write any more self-serving, violence-inducing articles for the Tribune and Indo, defending Anglo, developers and everyone else who got us into this mess.
Couldn't agree more. When he first started writing those articles the Tribune put in a footnote with a disclaimer of sorts, saying who he was, what he did and that he owed significant amounts to Anglo. The past few weeks that footnote has been missing and it almost comes across as an Editorial piece. I was suprised at the Tribune allowing him to write such horsesh1te.
 

Trampas

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about that, maybe 18 at most.

you could shop around online and get one cheap enough, you'd be amazed how quickly cars depreciate , especially the swa nky ones.

......and even more particularly the ugly ones. It must be the ugliest car on the road.
 

KingKane

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about that, maybe 18 at most.

you could shop around online and get one cheap enough, you'd be amazed how quickly cars depreciate , especially the swa nky ones.

on the wife thing as far as i know theres nothing stopping him flogging it to her for a quid so it could be on the level.

either way it shows how hard the NON irish banks are playing with these guys. i'd swear there was another story today about ulster bank but for the life of me its gone right out of my head.

guess this shows why everyone delt with anglo or the big two.
Thing is that he would (a) need some records of the transaction in which the wife got ownership of the car and (b) did she declare it?
 


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