The Irish Times’ headline in the article linked below implies that O’Brien has “six months to pay” back loans owed to Anglo/IBRC. In the article, though, it lays out that the loans, if not repaid, will be transferred to NAMA. O’Brien and Paddy McKillen about to get a bailout.
What the article doesn’t say is that O’Brien took out the loan from Anglo to buy shares in Irish Independent - shares that are now worth a tiny fraction of their value when O’Brien bought them.
Enjoy the march on Saturday and ICTU’s call for the citizens of Europe to do something about the debt so that ICTU can keep its yellow streak and get Labour off the hook.
As for Denis O’Brien, ladies and gentleman, he fucking laughing at you.
About €15 billion of loans that remain on IBRC’s books have been taken over by the special liquidators, Kieran Wallace and Eamonn Richardson of KPMG, appointed by the Government. They will seek to get full current value for these loans by the middle of this year.
The various loans will be sold separately and if the liquidators cannot achieve the current value, they will transfer to a special purpose vehicle operated by Nama, the state agency set up to deal with the toxic property loans of Ireland’s banks.”
Full Irish Times article here.