Matt Cooper: DJ Carey debt deal may not be as favourable as it would first appear

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The law recognises that where the debtor does not have the means to repay the debt, the amount can be written down, otherwise do we want to bring back 19th-century-style debtor prisons?

It doesn’t look as if AIB gave DJ Carey a particularly soft deal, despite the outrage caused by reports of alleged favouritism seemingly shown to the former Kilkenny hurling star.

AIB went to the High Court in 2011 and secured a €7.5 million judgment against Carey because of his failure to pay his debts, which increased in size when he couldn’t make due payments and interest ran up. That move against him in itself did ...

 

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I really disagree as people lost their houses and the banks are still chasing for a balance. They got nothing written off! 60k on that amount of a loan is a sweet deal.

He actually got one of the worst deals Don't think he was even left with a home and had to pay another 60k Why didn't he just go bankrupt The real questions are to be answered by those who lent him the money and those who advised him on his insolvency

It's more than Steps that lad was taking.....

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