Wednesday, 12 August 2009

Liam Carroll's companies, the receivers, and NAMA

Given the news that ACC Bank has applied for the winding up of two of Zoe Developer Liam Carroll’s companies, Vantive and Morston, it should be interesting to see the fallout for NAMA’s valuations when his stock of variously evolved developments and sites fall into the reciever's hands.

Many of Carroll’s companies were, of course, in tax-break designated areas in the capital, and his original Zoe Developments company built many of Dublin’s boomtime apartment blocks. One of the boom's prime architects, Bertie Ahern, is now infamous for (among other things) predicting that said boom would only get “boomier”.

But even Ahern’s recent quiet dropping of the topic Celtic Tiger: the Irish Model of Development from his portfolio of after-dinner speeches would seem to be a final admission that Ireland’s building boom might have had firmer foundations had Ahern fixed it to take place on Dollymount Strand.

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Anonymous said...

HI THERE MR GM it must be a sad time for our sensitive bertie unable to crow about the celtic tiger and all,for me my favourite attire was my cutom designed thai silk celtic tiger T shirt and matching kerrygold thong oooh i felt so proud all the time, but this summer in spain was a disaster an irate german that looked like a 500pound turnip kept shouting SHIESA CELTIC TIGER ,SHIESA GOMBEENS ,i was so terrified i ran back to my hotel and put my matching set in the microwave so i know how bertie feels its the endof a glorious era really, i only hope that NAMA restores oirland to greatness once again eventhough it seems to be standing logic on its head and costly for the tax payer CHEERS

The Gombeen Man said...

Hello there Mr BH. And right you were to wear that Kerrygold thong and Celtic Tiger T-shirt (in silk of course) with pride. And sure weren't we Irish the envy of the world at the time, with our econonic alchemy based on ever-increasing property prices funded by ever increasing credit? Sheer genius!!!

But what has poor old B-B-Bertie got to talk about now? Very little I'd say - which is why the News of the World is giving him a d-d-dig out with a sports column!

The little bollix!