Daft Property - Irish Property News

The blame game for the boom is well underway, says Isabel Morton... LAST SEPTEMBER, I rather boldly suggested that we might all consider suing the banks. I am now interested to hear that it is to come to pass. Investors are planning to sue Anglo Irish Bank. Given what we now know about the specific circumstances of that particular bank, it is understandable that investors, who lost a lot of money, are now somewhat sore about it all. However, the idea that property developers are also considering suing Anglo Irish Bank is not quite as easy to fathom, particularly as they are suing based on the grounds that the bank behaved negligently by breaching the guidelines of sensible lending practices. My initial reaction to this news was: that the property developers have some nerve; and that they hadn’t a hope in hell of succeeding. But, having thought about the basis of their argument, I could see that the same argument might actually be applicable to many of the loans and mortgages obtained b