Sindo - Revealed: top 13 borrowers who owe Anglo

yoganmahew · **Posted:** Sun Apr 15, 2012 10:16 am

http://www.independent.ie/business/iris ... 81219.html

Quote:

By Tom Lyons

Sunday April 15 2012

Builders, Secret Millionaire and O'Brien on list

Information obtained by the Sunday Independent has revealed for the first time the top 13 borrowers of the former Anglo Irish Bank, which is now called IBRC.

The 13, which include developers such as Joe O'Reilly and Bernard McNamara, owed a total of €13.9bn in March 2009, according to a government review by accountants PWC, which was completed around May of that year.

PWC told the Government that the bank's top borrowers would only cost the State €629m and that the bank was "not unreasonable" in its prediction in March 2009 that losses on the entire loan book would only be €4bn.

This figure has since ballooned to between €25bn and €30bn demonstrating how badly the property crash caught out the then government and its many advisers.

>>>

Despite the O'Brien bashing tone, I think this too is interesting...

edit: I hadn't read far enough, it's pretty sympathetic to Mr. O'Brien and it seems clear that he is performing admirably on his loans...

edit2: anyone want to admit to reading the paper edition and give us the other 12 borrowers?

Froggus · **Posted:** Sun Apr 15, 2012 10:29 am

Hmmm... Why stop at 13? Seems like an odd number
Why not top 20. I'd like to know who # 14 is

slasher · **Posted:** Sun Apr 15, 2012 10:53 am

Interesting they describe DOB as Ireland's 4th richest man, are they clinging to the fiction that Sor Tony is still up there?

Larry · **Joined:** Jun 28, 2008 **Posts:** 4435

The bad faith of the Sindo just pours out of this article. I have little time for O'Brien, but they are clearly trying to smear him by association here, just by putting his name in the same sentences as "Anglo" "McNamara" "Top 13 borrowers" and all that. From the piece:

Quote:

Much of Mr O'Brien's and his fellow 12 borrowers' lending took place under David Drumm, Mr FitzPatrick's successor as chief executive, with funding from German and French money markets.

Gutter journalism.

mr_anderson · **Posted:** Sun Apr 15, 2012 3:55 pm

Truly bizzare article.

The headline reads Revealed: top 13 borrowers who owe Anglo.

Yet, the article doesn't mention any of the borrowers bar Sean Quinn, Joe O'Reilly, Bernard McNamara and Denis O'Brien.

And boy, does it mention Denis O'Brien ... practically for the entire remainder of the article.

Thing is, I can't decide if this article is pro or anti-O'Brien.
Mentioning him alongside the other 3 luminaries cannot be good, but it does go on to specify that his loans are performing.

I could research and see which way the columnist, Tom Lyons, has swung in the past.
But as it is indo-related I just couldn't give a fuck.

Ardillaun · **Posted:** Sun Apr 15, 2012 7:12 pm

slasher wrote:

Interesting they describe DOB as Ireland's 4th richest man, are they clinging to the fiction that Sor Tony is still up there?

I guess it's based on this list:

http://www.independent.ie/business/rich ... 16314.html

Some interesting Irish men and women in there alright.

mr_anderson · **Posted:** Sun Apr 15, 2012 7:47 pm

Ardillaun wrote:

slasher wrote:

Interesting they describe DOB as Ireland's 4th richest man, are they clinging to the fiction that Sor Tony is still up there?

I guess it's based on this list:

http://www.independent.ie/business/rich ... 16314.html

Some interesting Irish men and women in there alright.

Most interesting is that, whilst the others are individuals, they count the O'Reilly family as a whole, in order to gain entrance to the list.

I wonder how long after writing this piece, did it take the columnist to remove the brown stain from their nose ?

johnnyone234 · **Posted:** Sun Apr 15, 2012 8:01 pm

mr_anderson wrote:

Ardillaun wrote:

slasher wrote:

Interesting they describe DOB as Ireland's 4th richest man, are they clinging to the fiction that Sor Tony is still up there?

I guess it's based on this list:

http://www.independent.ie/business/rich ... 16314.html

Some interesting Irish men and women in there alright.

Most interesting is that, whilst the others are individuals, they count the O'Reilly family as a whole, in order to gain entrance to the list.

I wonder how long after writing this piece, did it take the columnist to remove the brown stain from their nose ?

according to NWL there was 10 DOB articles in the indo

Quote:

The battle is seemingly getting dirty – there were 10 Denis O’Brien-related articles in today’s Sunday Independent, all largely negative and there is a laughable piece penned by the Sunday Independent’s new editor, Anne Harris who dismisses accusations of corporate machination to blacken Denis O’Brien’s name. This blogpost sets out some of the hype and facts that you may come across as the battle intensifies ahead of IN&M’s annual general meeting on 8th June when the betting is that Gavin O’Reilly will be ousted as CEO of the company.

http://namawinelake.wordpress.com/2012/ ... and-media/

Who the F would want the rag. Two big egos at loggerheads for a long time
In relation to brown nosing, no one tops Newstalk - Ivan Yates & George Hook to name two

Ardillaun · **Posted:** Sun Apr 15, 2012 8:03 pm

mr_anderson wrote:

Ardillaun wrote:

slasher wrote:

Interesting they describe DOB as Ireland's 4th richest man, are they clinging to the fiction that Sor Tony is still up there?

I guess it's based on this list:

http://www.independent.ie/business/rich ... 16314.html

Some interesting Irish men and women in there alright.

Most interesting is that, whilst the others are individuals, they count the O'Reilly family as a whole, in order to gain entrance to the list.

I wonder how long after writing this piece, did it take the columnist to remove the brown stain from their nose ?

In Canada, these lists contain many families. Funny enough, another member of the Weston clan, the hubby Galen, is listed over here at number 2.

http://list.canadianbusiness.com/rankin ... d1=a&sc1=0

fishfoodie · **Posted:** Sun Apr 15, 2012 11:01 pm

mr_anderson wrote:

Truly bizzare article.

The headline reads Revealed: top 13 borrowers who owe Anglo.

Yet, the article doesn't mention any of the borrowers bar Sean Quinn, Joe O'Reilly, Bernard McNamara and Denis O'Brien.

And boy, does it mention Denis O'Brien ... practically for the entire remainder of the article.

Thing is, I can't decide if this article is pro or anti-O'Brien.
Mentioning him alongside the other 3 luminaries cannot be good, but it does go on to specify that his loans are performing.

Probably because neither could the journo

After all; if NAMA/BoSI/??? decides to call in some loans, who know's who could end you owning a controlling interest in the Indo ?

namawinelake · **Joined:** Mar 8, 2010 **Posts:** 372

Don't think it's the best article and I think its prominence would have been diminished if it had the more accurate headline

Revealed: Top four borrowers who owed Anglo (more than three years ago)

In truth it seems that Jerry O'Reilly and Bernard McNamara have since gone to NAMA. We don't really know what has happened to Denis O'Brien's loans, there was a claim in January 2012 that he still owed hundreds of millions to Anglo, but who knows, this would be confidential information, he may have paid down some loans, he may have had additional contractual advances on others,

By the way Forbes put Denis O'Brien as No 2 richest in Ireland last month - No 1 is still Pal Mistry. I see Tom says that Denis is no 4, but that ranking seems to be a year old.

Froggus · **Posted:** Mon Apr 16, 2012 3:13 pm

the top 13 were listed in the business section Gerry Gannon was no. 4, I think Sean Mulryan of Ballymore properties was 5th. I cant remember the rest some familiar names some unfamiliar. Quinn was No. 1 with 2.7 billion.

I can't find it online

Sindo - Revealed: top 13 borrowers who owe Anglo

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