Daft Property - Irish Property News

Soap opera life of Celtic Tiger dynasty... THE wealth built up by their parents was a launch pad for sons Jim Jnr and PJ in a boom-time era world of beautiful women, powerful cars and fashionable parties. In true soap opera style the family has seen more than its share of strife and tragedy. All three of Jim Mansfield's sons were brought into the family businesses, but personal rather than business dealings catapulted two of the boys into the media limelight. Youngest son PJ married model and former Miss Ireland Andrea Roche in a high-profile wedding ceremony in 2006. The event was a magnet for Ireland's fashionistas. Leggy models and household names were packed into a marquee in the grounds of nearby Palmerstown House for the reception. Nearby, the village of Saggart was choked to capacity by the fleet of Mercedes, Bentleys and Chryslers -- as well as the Mansfield's family Rolls-Royce -- which had been left parked on the narrow streets during the big event. ...

Carroll's property empire crumbles... Fears of new turmoil in the market if banks move in... DEVELOPER Liam Carroll last night lost the battle to protect his multi-billion euro empire, raising fears the property market will be plunged into further turmoil. The Supreme Court rejected his survival plan -- saying it was neither credible nor viable. A number of banks are today expected to begin the process of picking over the bones of his companies, with a view to recouping a fraction of their losses. They will be led this morning by ACC Bank, who may seek to wind up his companies, appoint a liquidator or receivers. The tycoon's Zoe Group of companies is laden down with bank debts of more than €1.2bn -- and a fire sale of his assets could undermine the Government's NAMA plan to remove €90bn of toxic development loans from bank balance books. However, it is unlikely that there will be an immediate rush to sell off assets when there is no demand for in the current climate. Declan...

Thousands seeking help as debts surge... THE number of people turning to a Government money advice service to save themselves from financial ruin will double this year. In response, the Government has been forced to hire a new team of advisers to bolster the under-staffed Money Advice and Budgeting Service (MABS). Despite the public sector recruitment ban, the Department of Finance has given the green light for a team of new recruits. The extent of indebtedness emerged as it was revealed that up to 500 ESB and Bord Gais customers were being disconnected every month because they could not afford to pay their bills. Stark new Department of Social and Family Affairs figures reveal: * The MABS helpline received more than 12,200 calls in the first six months of 2009. This compares with almost 11,000 for all of last year. * MABS staff have been visited by almost 10,000 new clients -- owing an average of €15,100 -- since the beginning of the year. * The vast majority of the debt (65p...