Are Matheson the firm being sued for their poor advice to the Anglo directors around the Maple 10 transaction?
correct.
Matheson Ormsby Prentice.
It would have been on dude to take the flack but the firmās insurance policy. I reckon they have a few quid to spare.
Hereās hoping they wipe the floor with MOPS
They are actually not MOP anymore. Just Matheson.
That is astonishing stuff. Was it not enough to rob us once?
I like the Waiting for Godot analogy. Sure tax is complicated, letās run another TV3 documentary on welfare spongers instead.
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yeah, i realise pal.
unlimited liability for the partners as well. Id say squeaky bum time.
Partners in Law firms generally have unlimited liability as they are precluded from incorporating.
I just donāt know enough about it to know is this just some lad with a tin foil hat writing this, or is it true. Iād suspect the latter.
A few things. Apparently NAMA go to great lengths to avoid selling back to the original owners. Is this true?
The comment in that thread about some vulture funds being advised by their US tax lawyers to keep what they reckon the tax should be back anyway as they cannot believe they will get away with it.
It really is off the charts if true.
its true. SBP been running with it for few weeks now.
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It is just so brazen.
These funds seem to be well used to going into places and buying up distressed assets, making a big return and paying big tax.
Their own advisers in the US cannot actually believe they are getting away with it by the sounds of it, it is so off the scale.
Anything to be said for a few more 1916 celebrations.
The bond speculators didnāt think there was much chance they would ever get paid by our government either, but they did.
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Whats the angle here for Ireland?
Attract enough vultures in to take the stuff off NAMA books at a high enough price to make it look like NAMA is working?
There is a massive ball of cash which was destroyed with the financial collapse. This loss has been passed around various entities since.
Banks were fubared. NAMA comes along and pays over the odds for loans. Banks start to look less toxic.
Is this another pass the buck effort now to make it look like NAMA was a great job?
I assumed it was just a gigantic loophole that hadnt been exploited til now, the vultures saw the gap and the Dept of finance turned a blind eye, because as you said, it suited them
I guess thatās the question of whether they were complicit or just incompetent?
Either way itās a shit-storm if anyone decides to investigate it.
The fact all the major parties outside of Sinn Fein will be implicated in any scandal will mean they would rather it was all ignored. Only if Sinn Fein and the SDās can make a big enough issue out of it that they start to gain serious political capital will the main parties be forced to act.
There is already a huge dissatisfaction with NAMA engagement with these funds from other developers. Many big developers with limited Debt were not pulled into NAMA and felt hugely disadvantaged when trying to buy these assets as they claim NAMA favoured existing borrowers to sell assets to as this ādilutedā their asset/debt position thus improving NAMA position. If as this appears the US funds were in a position to bid much higher due to lack of tax considerations then itās putting some at huge disadvantage
There is already a case being pulled together on the first point with a few developers joined together to take case
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fuck the developers
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Friday Night Football show in the lead up to the United v Southampton match is just wrong. Chris Camara is the cringiest man Iāve ever watched on telly and Thierry Henry is a complete dullard.
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Theyāre all dullards bar Rachael, pal.
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