NI Developers bite back

slieve · **Joined:** Sep 4, 2009 **Posts:** 3

http://news.bbc.co.uk/1/hi/northern_ireland/8237366.stm
http://news.bbc.co.uk/1/hi/northern_ireland/8237647.stm

spqr64 · **Posted:** Fri Sep 04, 2009 1:07 pm

The level of ignorance here is horrendous, in respect of the developer his rhetoric is atypical and he'll crib and cry until there is no way out and he has to negotiate.
But as far as the buyers are concerned who in the name a jaysus was giving them legal advice and allowing them to sign contracts that could possibly be watertight? I never cease to be amazed. :shock:

yoganmahew · **Posted:** Fri Sep 04, 2009 1:11 pm

Quote:

an apartment in Titanic Quarter, which is being developed by Dublin-based Harcourt

It's those flippin' mexicans again...

Mossy_Heneberry · **Joined:** May 18, 2009 **Posts:** 2641

Surely the name of the apartment complex should have acted as a warning.

Howitzer · **Joined:** Nov 13, 2006 **Posts:** 1417

Harcourt have shown possibly the most hard nosed attitude with respect to both their commercial and residential business during this crash - on the commercial they're the guys putting up their rents. On a purely business note you'd have to respect them, they'll be the guys coming out the other end smelling of roses. But when you read about old boys coming out with lines like this you gotta worry that they're being put on suicide watch.

Quote:

I regret not seeking the correct legal advice. At the time I should have got a lawyer to look at the contract.

We were sucked along on a wave - there was the big build-up to the release date and when we got an appointment to buy, we were delighted.

I blame myself for not getting the correct advice at the time

I wouldn't have any dealings with Harcourt. I'd know well that if there was any bumps in the road along the way they'd screw me over in a heartbeat.

ewd3 · **Joined:** Nov 7, 2007 **Posts:** 5669

Mossy_Heneberry wrote:

Surely the name of the apartment complex should have acted as a warning.

rumours of a new phase called Hindenberg are unconfirmed

Stifster · **Joined:** Oct 4, 2008 **Posts:** 935

more like the mary celeste at the moment.

Arsenal · **Joined:** Dec 16, 2007 **Posts:** 55

The developer in question, Barry Gilligan, is the Chairman of the Northern Ireland Policing Board, the public body that holds the PSNI to account http://www.nipolicingboard.org.uk/index ... tm?id=5239

Does anyone think that there is a conflict between his aggressive pursuance of persons who had signed contracts for the purchase of apartments in the development, and his role as Chairman of the NIPB?

spqr64 · **Posted:** Sun Sep 06, 2009 11:26 am

Arsenal wrote:

The developer in question, Barry Gilligan, is the Chairman of the Northern Ireland Policing Board, the public body that holds the PSNI to account http://www.nipolicingboard.org.uk/index ... tm?id=5239

Does anyone think that there is a conflict between his aggressive pursuance of persons who had signed contracts for the purchase of apartments in the development, and his role as Chairman of the NIPB?

In the north people there are more vocal than south of the border, they will pursue all avenues including their elected representatives i.e. MLAs to get help and the thing is very few MLAs will have the developer connections to the extent it applies in the south (although some will have those connections and I think its already been it the news up there about that).
Thing is though if enough people cause stink it will force the MLAs to address the problem and those with connections to developers will do what all good politicians do when confronted HIDE.

2Pack · **Joined:** May 3, 2007 **Posts:** 10509

A long article on the particularly manic boom in Belfast in the mid decade in the Times today

http://www.irishtimes.com/newspaper/fin ... 67293.html

As we know many southern Canny McSavvys had their fingers in the Belfast property pie but as contract law up north is different to down here it seems that it is legally easier to force completion of the contracts . Payment of a deposit is somewhat different to the situation down here

Quote:

Big Picture Developments – the development vehicle of Barry Gilligan, the former chief executive of Dunloe Ewart and current chairman of the Northern Ireland Policing Board, and Kevin Stanley of Dublin-based Stanley Holdings – has issued writs against buyers who have not completed on apartments on which they paid deposits.

Another property firm that has already gone down the legal route with regards to buyers who have not completed is PBN Property. The Belfast-based company, which specialises in commercial and residential development, was established by the former regional director of Anglo Irish Bank in the North, Neil Adair, and two other high-profile Northern Ireland businessmen; Patrick Kearney and Brian McConville.

More and more on the contracts and misc links here .

http://tonymusings.blogspot.com/

Quote:

A NEW question mark hangs over the Waterfront finance district scheme after developers Harcourt apparently missed their final deadline to prove they had the money to build it. It is understood that the Irish developers did not meet their final deadline of last Friday to provide the Waterfront Enterprise Board with a bond to prove that they had the funds to carry out the scheme. If that is the case, WEB could have to negotiate with other developers to build the 14-block finance district on the Esplanade car park. The developers missed a deadline to supply the bond at the start of the year and were dropped as 'preferred developers' for the seven-year scheme. They were then given a second deadline of 4 September to come up with the money, but apparently failed to do so.(1)

Maor Uisce · **Joined:** Aug 12, 2009 **Posts:** 141

Joining an action group is a sure way to get a developers back up. Most will agree discounts on original purchase prices if it is done quietly.

whizzbang · **Posted:** Wed Sep 09, 2009 9:57 am

I have to say, I have no real problem with developers coming after people for the money the signed up to pay. If you sign up to a contract, you have to follow through or face the consequences, even if you end up losing money on it. Business can't be run on a "I''ll only complete the contract so long as I make money on it" basis. Otherwise it is not worth the paper it is written on.

That being said, it might make sense for the developer to cut some losses and give a discount rather than go through expensive court battles.

jean contente · **Posted:** Fri Aug 27, 2010 10:58 am

*bump*

Impecuniosity has been accepted by the High Court in Belfast as a successful defence against contract enforcement proceedings issued by Harcourt for a Titanic Quarter apartment.
http://www.irishtimes.com/newspaper/ire ... 87883.html

Quote:

n the High Court in Belfast Mr Justice Deeny refused to grant an order forcing a man to complete a contract to buy a £264,500 (€321,350) apartment in the Titanic Quarter at the city’s Abercorn residential complex.

The judge held that Neil Rowe, from east Belfast, had a clearly arguable case that it was impossible for him to complete the contract as he had lost his job as a building surveyor and had no significant asset.

Mr Rowe’s lawyers had advanced the novel argument of “impecuniosity” – no money – in the action brought against him by Titanic Quarter Ltd, owned by the Dublin-based property company Harcourt Developments Ltd.

Mr Justice Deeny refused to grant the plaintiff company a legal order known as specific performance. In doing so he quoted a judgment of the late Lord MacDermott that the courts should not make an order “that will beat upon the air”.

coc · **Joined:** Nov 3, 2008 **Posts:** 1280

I'd say Mansfield Jr is kicking himself he never thought of impecuniosity. But then again, how many 7 year olds would know what that word meant?

jean contente · **Posted:** Fri Aug 27, 2010 12:28 pm

coc wrote:

I'd say Mansfield Jr is kicking himself he never thought of impecuniosity. But then again, how many 7 year olds would know what that word meant?

Could impecuniosity head south Coc?
It has buzzword potential.For example.
Impecuniosity is the only game in town,going forward.

NI Developers bite back

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