I thought property in Cape Verde was king Eddie?
Nothing is low risk now Rocko. That’s why our bonds are yielding ten per cent. Granted with the benefit of hindsight the money these people invested in property looks foolhardy but at the time it appeared to be absolutely safe
I will be calling gold at peak in the morning, it’ll be downhill after that. A bit of stability in the market and the demand for gold will go into long term decline. If a cunt like Hobbs is telling you to get into gold, I’d start shorting it right away.
Got it in one SS.
By NIAMH HORAN and JEROME REILLY
Sunday Apr 15 2012
Former Dragons’ Den star Sarah Newman and her high-profile partner, hurling ace DJ Carey, made a last-ditch effort to save their relationship with a five-star luxury trip to the paradise island of Mauritius.
Responding to reports in a national newspaper yesterday that the couple had split, friends said the relationship between the multi-millionaire businesswoman and the sports legend hit the rocks six months ago and the couple made one last attempt to make it work in January.
They, along with some of their children from previous relationships, and Ms Newman’s mother went on a “family get-together” to the tropical resort.
“It was decided that they would all take a break together as one big family unit as Sarah and DJ tried to work things out and so the families could be together,” said a friend of Ms Newman’s.
Another source explained: "Sarah was heartbroken before when she thought it was over but they managed to work things out.
“No expense was spared and the families stayed in the best hotel in the resort. They were treated to the best of everything over there.”
The couple have homes in Monkstown, Co Dublin, the K Club in Kildare and the Mount Juliet golf estate in Kilkenny.
But on returning from the luxury break it was clear the relationship was finished.
The friend said: “She is devastated, to put it mildly. Really heartbroken. She has gone to her mom in England for a break away to take time out for herself.”
Friends said their relationship came under strain when their financial difficulties hit the headlines in recent years.
“There was a lot of strain on both of them. It took its toll. Three years ago they went through a very hard time, but only their closest friends knew about their problems back then.”
Mr Carey has now moved out of their Monkstown property and is living in one of the couple’s houses on the grounds of the K Club, where Ms Newman is also a member and a former lady captain.
Just before Christmas it emerged that the luxury Swiss chalet owned by Ms Newman and named after her daughter had been sold.
Chalet Grace, a 450sq m property in the alpine ski resort of Zermatt at the foot of the Matterhorn, has accommodation for 14 people, a cinema, a wellness centre and a games room.
The property rents for up to ¿40,000 per week during the winter season in the resort not far from the Italian border. The property was on the market for ¿12.1m and its disposal may have helped to ease the couple’s crippling financial problems.
In May of last year, AIB indicated that it was considering moving against the Swiss property after the bank was awarded judgment of more than ¿9m against Ms Newman and Mr Carey, arising from loans, and guarantees they had given for each other’s loans.
The Commercial Court ordered Ms Newman and Mr Carey to repay ¿9.5m relating to properties in Mount Juliet, in Kilkenny, and the K Club in Co Kildare.
The judgment of ¿9.5m against Mr Carey related to a ¿7.85m mortgage loan he took out in April 2007, which was secured on properties in the K Club and Mount Juliet, plus his guarantee of a ¿1.5m loan taken out by Ms Newman the same month.
The judgment against Ms Newman arose from her guarantee of Mr Carey’s ¿7.85m loan, plus the ¿1.5m mortgage that was secured on a property at the K Club.
Both consented to the judgment against them but like many couples who have been battling with difficulties related to the property crash, the stress of litigation and negotiating with banks which want to call in loans must have been significant.
After the case the couple issued a statement rebutting claims made in court by AIB that they had failed to engage with the bank.
“Detailed and comprehensive financial proposals, prepared by their financial advisers, were submitted to the bank on a number of occasions,” said the statement.
The speculation in property was a major setback to the former Dragons’ Den star who seemed blessed with a Midas touch for business.
She moved to Ireland in 1994 to found Needa-hotel.com, which she sold to multinational Cendant in 2006 for an undisclosed figure, believed to be in the region of ¿50m – including a cash payment of some ¿30m.
But she was still relatively unknown outside the business pages of newspapers until she came to prominence as a panellist on RTE’s Dragons’ Den in 2009 – though in the first series she declined to make a single investment.
She met DJ Carey seven years ago some time after his marriage foundered. Mr Carey and Ms Newman each have two children from their previous marriages.
The couple lived together in a renovated Georgian house in Monkstown, Co Dublin.
In an interview in 2007 before they ran into financial difficulties, Ms Newman described the former hurling star as “very level-headed, logical, stable, feet-on-the-ground type of guy and he would have added a completely different dimension to the way I approach business”.
Just three months before the action by AIB in the Commercial Court, Mr Carey faced the trauma of seeing the cleaning business he had built from scratch over 18 years fall into difficulties.
The debts on companies controlled by Mr Carey totalled ¿1.7m.
DJ Carey Enterprises, Dublin Janitorial Centre and Alton Limited, went into liquidation.
A garda investigation got under way to try to discover how hundreds of thousands of euro went missing from the cleaning business. The investigation is still continuing and nobody has been arrested or charged.
Western Hygiene Supplies bought the remains of Mr Carey’s cleaning business just days before the company was put into liquidation which allowed a number of jobs to be saved.
Mr Carey took a job as area sales manager for Western Hygiene and was strongly involved in promoting Western Hygiene’s newly expanded business.
At the time, Ms Newman said: “We all need to be strong to get through this difficult time.”
Now with the pressure added by the break-up of her relationship, a friend said: “Sarah is a strong woman. She will brush herself off and move on. But that will take some time yet.”
- NIAMH HORAN and JEROME REILLY
what a horrible cunt that sarah woman is and id have no sympathy either for that gormless simpleton carey
if that there is not the feel good story of the week ahead then ill be fucked
I’d expect little more from such a bitter cunt. Let there be karma in the world.
I mildly dislike Newman, shame to see DJ on the rocks though.
Fuck sake. These two cunts owe something like 16m to the banks that they haven’t a prospect of paying and they fuck off to Mauritius with the kids and the mother in law. What kind of an insane country is this?
i think its 19m plus whatever is owing from the pisscakes business
The banks must have screwed up their cross collateral books here as their property portfolio would cover a good part of that
DJ could certainly do better. Should head to Langtons and pull some decent little 20 something who isn’t a condescending English auld wan.
Yeah, taking the mother in law with you when trying to sort out a relationship in strife is a bad call.
:lol:
But DJ likes to be the kept man. A 20 yr old in Langtons isn’t going to give him that.
The 20 year old in Langtons will have a higher net worth than Miss Newman. Unfortunately the twenty year old will be too young to remember Djs hurling exploits and would be unlikely to be attracted to what looks like a simpleton with the mange[quote=“Locke, post: 562059”]
But DJ likes to be the kept man. A 20 yr old in Langtons isn’t going to give him that.
[/quote]
He is a living legend. I don’t think that’d be an issue. Twenty is a bit young for him alright though.
Would DJ be popular in Kilkenny?
Very. But I note that there had been no suggestion that a whip around should be organized for him.