Re: Liam O'Carroll Denied Examiner
Corruption at its best - even the supreme courts decisions overturned by the elite.This will give them enough time for nama to take over the loans. what a laugh.
Its not corruption - its using the Court systems, which Carroll's are perfectly entitled to do.
Mind you,ACC didn't appear to cover itself in glory by its Counsel's incisive demolition of the Carrol arguments...
From the link posted by Shawady:
http://www.rte.ie/business/2009/0821/carroll.html
"Lyndon McCann SC, acting for ACC Bank, said a 'tactical and strategic decision' had been taken by the Carroll group to withhold evidence relating to its business plan and property valuations on the first petition for examinership.
"He described this as a 'bad decision', and said the attempt to introduce the previously withheld business plan was 'an abuse of the process of the Court'. He also described the content of the letters from the financial institutions as 'frankly, pathetic'."
A 'tactical and strategic decision' to WITHHOLD evidence?
The lack of this evidence caused the judge of the case to refuse the application in the High Court.
Was the ACC Counsel suggesting the it is was a "cunning plan" on the part of Carroll to present a case without adequate supporting evidence?
Oh no, he then backpedals furiously and calls it a 'bad decision'.
Well, which is it?
A 'tactical and strategic decision' - which implies some clue on the part of the originator - or a 'bad decision'
And McCann's comments on the letters from the banks?
They were 'frankly, pathetic'.
Were they though?
Several Financial Institutions deciding to support an ailing company to prevent a catastrophic collapse in property values precipitated by the Bank McCann is acting for, with consequent degradation in the economy, is not, 'frankly, pathetic'.
Yes, this is a stop gap, and house prices are likely to fall and continue to fall until next year - this has been reported.
But catastrophic falls damage market confidence more than gradual, foreseeable falls and I don't see why our economic recovery should be in any way delayed by a Dutch-owned banking pulling the plug on one of Ireland's biggest builders.
And I also don't see how any act that's done within the law and supports the public good can be called corrupt.
On the face of this RTE report, Lyndon McCann SC did not appear to present any legal ground for not allowing the application.
And remember, this matter is yet to be decided.
The whole case has yet to be proven and hopefully the evidence in full can be presented without any more back seat driving from Carroll.
Looks like there may be more than one amazing precedent being set by this case.
FWIW
ONQ.
where did i hear that before