“Here’s 2 more pints lad,get them into ye we’re supposed to be closed.That’ll be 25 euro please”.
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Thanks Tommy. How are the family?
You did it to Nash last week you hypocrite
As a response to what was being posted about somebody else in similar bother.
I don’t like doing it and I regretted it but I was just really annoyed that evening.
This case is different again though has he has no profile from sport.
There’s a lot more bad things going on in the country than to gossiping and posting about somebody you don’t know and a situation nobody really knows about either.
Stage ten and you still haven’t explained why you are cheerleading a convicted sex offender on here.
You’d think you would just come out and say I hate Donald trump but you cant can you.
This is at least 70% of your posts on the Equine thread
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Having paid about €84 million in 2020 to acquire La Touche House in the IFSC, Axa Investment Managers and BCP Capital have formally instructed agent CBRE to find a buyer for the property. The guide price on this occasion is understood to be €25 million.
Should a sale proceed at that level, the French-headquartered investor and its local partner would face a loss of at least €59 million on their original investment. The €25 million price tag represents a 70 per cent discount on the amount paid five years ago by Axa IM Real Assets and BCP to secure ownership of the property.
Developed in the early 1990s as one of the first buildings in Dublin’s then fledgling financial services district, the 8,547sq m (92,000sq ft) office block had commanded a valuation at its peak of some €100 million in 2007.
In 2013, in the wake of the global financial crisis, it was sold by a group of private investors that had been assembled by Warren Private to a fund controlled by Credit Suisse for €35 million.
Three years later, and with Ireland’s economic recovery firmly under way, the building’s Luxembourg-based owner accorded it a value of €70 million. Credit Suisse put the property on the market for €95 million in 2019 and secured its sale to Axa IM Real Assets and BCP for €84 million at the outset of the Covid-19 pandemic in February 2020.
The acquisition of the building was backed by a debt facility provided by Bank of Ireland.
La Touche House is named after the Irish banking family synonymous with the founding of the Bank of Ireland, and the bank acquired the property in shell condition for its own use for €38 million in 1993. It sold the building to the aforementioned private investors assembled by Warren Private for €82.5 million in 2002, or just €1.5 million less than its 2020 sale price.
Historic levels
In an indication of just how much the demand for office space in the IFSC has shifted in recent years to newer and more sustainable buildings in the city’s north docklands, the value attributed to La Touche House has now dropped to a mere fraction of its historic levels. The price achieved for the property on this occasion will be seen as a barometer of the market for older office stock both in the IFSC and across the capital.
Axa and BCP had originally intended to attract new occupiers to La Touche House through the delivery of a €50 million redevelopment and upgrade of its sustainability rating.
The plan, had it gone ahead, was to have seen La Touche House increase in height from its existing seven storeys to 10. The building was also to have been refitted using “passivhaus” standards, which can cut energy bills by up to 90 per cent and reduce greenhouse gas emissions.
That part of the IFSC is in real trouble. JPM left to go down to Capital Dock in 2019 (I think) and the building they left is still vacant despite being refurbished.
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This is one of the best threads on TFK.
Nobody wants to be on the Northside
Sustainability ratings on the buildings are some cod. Oh we’re net zero. Fuck off
Sean Dunne
Shane Phelan
The first wife of Celtic Tiger-era property developer Sean Dunne will be able to claim €1.5m from his bankruptcy estate.
A court in the US has been told a settlement had been agreed with Mr Dunne’s bankruptcy trustee in respect of a claim on the estate made by Jennifer Coyle.
She had sought just over €5m, a claim made up of maintenance payments and interest she said she was owed.
This included sums from after the date in 2013 that the Celtic Tiger-era property developer, once one of Ireland’s richest people, filed for bankruptcy in Connecticut.
However, comments made in court by a lawyer representing Ms Coyle indicate an agreement was reached to allow a claim of €1.5m.
This comprises maintenance she says she was owed up to 2013 and pre- and post-petition interest on those funds.
Details of her claim came into the public domain after Mr Dunne’s US bankruptcy trustee Richard Coan filed an objection last December seeking to have the €5m claim disallowed.
Twice-divorced Carlow-born businessman Mr Dunne has been in dual US and Irish bankruptcies since 2013, when his empire collapsed under the weight of €700m in debt.
The one-time “Baron of Ballsbridge” was living in the US with his second wife, former journalist Gayle Killilea, at the time.
In legal filings, lawyers for Ms Coyle said she was entitled to a “priority” claim against the estate under the US Bankruptcy Code.
Mr Coan has recovered around $21m (€18.9m) during the course of the protracted bankruptcy, which has been beset by litigation on both sides of the Atlantic.
Filings on Ms Coyle’s behalf by US law firm Robinson & Cole LLP state she obtained a decree of divorce from the High Court in Dublin in 2001 and that a judgment was made in her favour arising from those proceedings.
They state that while the divorce proceedings were “in camera”, in 2013 the High Court authorised the disclosure of certain information included in the orders of the court.
In the United States Bankruptcy Court for the District of Connecticut earlier this month, attorney Nick Vegliante, for the trustee, said both sides had reached an agreement to settle the claim, subject to “the completion and execution of mutually agreeable documentation”.
Mr Vegliante added: “We have agreed that the claim for maintenance, which arose pre-petition, along with the interest component of that, is allowable and we would pay that amount. But post-petition accruals and the interest on those amounts, we are not paying.”
Ms Coyle’s attorney Robert Birney did not specify the amount involved in court, but referred the judge to a document, seen by the Irish Independent, which indicates the allowed claim is just over €1.5m.
The court was told both sides will enter into a stipulation agreement, which will allow for Ms Coyle to be paid when the trustee disperses Mr Dunne’s estate.
A court in the US ruled last year that creditors Nama and Ulster Bank can recoup around €5m arising from loans provided to aid the trustee’s pursuit of Mr Dunne’s assets.
Most of the funds recovered by Mr Coan stem from a jury trial that found Mr Dunne had fraudulently transferred assets to Ms Killilea. She was ordered to pay $18.1m (€16.3m) to the trustee for distribution to Mr Dunne’s creditors.
Mr Dunne is currently in the middle of a legal challenge in the High Court to the appointments of two trustees who have overseen his Irish bankruptcy.
Dunner and Gayle Killilea were the thinking man’s Gerard and Lisa
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Who was the thinking mans Katie?
Glenda
Well the poor Mongolian woman was slashed to death by the out of control teenager right beside that building a couple of years ago so there could be an element of truth about that. That trio of buildings, AIB International House, La Touché House and Dermot Desmond’s IFSC House are a stunning entry point to the IFSC in fairness but are probably very dated now.
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I’d imagine that most European regulated funds can’t invest in buildings that have poor energy ratings.
That cuts the market dramatically. Tenants won’t touch them either for governance reasons and for attracting Gen Zers who ironically won’t come into the office anyway.
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That’s what happens when you import the third world.
They get killed by people from the first world
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Huh?