€200 Million Property Developer Seeks Legal Aid

The strange case of the mendicant property tycoon and the lawyers who didn’t understand their contracts

Limerick developer Mick Daly is telling the High Court he can’t afford representation and wants legal aid.  This gives him something in common with the scumbag drug dealers who daily laugh at our courts and our society, except that the drug dealers destroy lives, while property developers …

Ok.  Let me think about that.

Mick, you might recall, is one of the people behind the Riverpoint development in Limerick — a vanity project designed to massage the egos of the people who raised the funding for it.  Riverpoint replaced another vanity project, erected by a buffoon known as Chevalier Sheahan, a man who pretended to be an architect but who was, in reality, an utter fraud, well connected with the church.  Sheahan’s erection was designed by a cut-price Hungarian architect on the run from the Commies, and was exactly as you’d expect: a horrible Soviet panelak.

Mick, an accountant  somehow gained access to almost unlimited credit from the worst bank in the world, Anglo.

Like any Limerick gobshite unused to the high life, Mick was clearly flattered by Seánie Fitz, the high-flying spiv who extended such credit to him and he duly rolled over to have his belly tickled.

Happy days.  It was a long way from the Christian Brothers in Sexton Street for Mick.

Mick set up a company called Fordmount, and was joined by solicitors Dermot O’Donovan, Adrian Frawley, Michael Sherry and Tommy Dalton, who all became partners.  In a fit of hubris, the five lads decided they were Masters of the (Limerick) Universe, and eventually ran up a debt of about €200 million to the worst bank in the world.

Two hundred million euros.

Wouldn’t you love to have these lads advising you when you buy a house?

Two hundred million euros.

Some of the lawyer lads were in court recently and claimed they didn’t understand that their loan guarantees were legally binding.

A signature on a contract might not be binding, according to these razor-sharp legal ninjas.

As I said, wouldn’t you love to have these lads advising you?

The Riverpoint building itself is fine piece, if only its construction hadn’t overwhelmed  the small contractors who contributed their time, money and materials, thereby permanently ending their businesses and destroying lives.  But apart from that, it’s a fine building.

And they certainly did some fine work around the city, including the redevelopment of Bedford Row.  Their vision of the New Brutalism, dwarfing the human being beneath a massive money mountain was certainly in keeping with the tiger zeitgeist.  Come to think of it, the human being is still crushed by the tiger created by such inflated ego.  And the human being’s children, and grandchildren, as we pay the debts created by the worst bank in the world.  Fordmount’s bank.

I’ve always wondered about company names.  Where did they get the name Fordmount?  That’s just an idle thought in passing.

Irish solicitors have never been noted for lacking a hard neck, and DG O’Donovan are no exceptions.  It’s true that they don’t own flats occupied by drug-dealing junkies, like another prominent Limerick solicitor, but they did apply to become solicitors to Nama, despite being part of a scheme that embodies everything dysfunctional about Irish property development.  These people do not understand the concept of embarrassment.

Tommy Dalton has agreed that he owed €21 million or thereabouts, but the rest of the legal lads are still fighting the bill.  After all, it’s a lot of dosh.  Maybe they should ramp up the old legal aid work and start to rake in the cash like Ted and Johnny, our local free-legal-aid defenders.  Tommy won’t be long paying off the bank if he recruits enough knackers to represent, and it’s not as if he’d have to fight the cases.  From what I hear, Devane hasn’t fought more than a handful of cases in the last few years.  Mitigation is the name of the game.

Maybe the rest of the partners could learn something from Ted and Johnny.

Maybe Mick Daly and DGOD Partners could go to the High Court and claim to have a difficult childhood.  Maybe they could tell the court they had an addiction problem.

They could hire Devane, the People’s Lawyer.

Judge, I know they owe the debt, but perhaps the court could take into account their difficult past, and in particular their severe addiction to money.  They ran into a money-pusher called Fitzpatrick and he handed out the first fix free.

48 thoughts on “€200 Million Property Developer Seeks Legal Aid

  1. Bock now you don’t get it do you? All this crap of swearing affidavits and personal guarantees is for the little people. If they cant take a joke fuck them. We are talking Billions now, what’s a few million between friends? Besides Seanie told them it was just a paper exercise and nothing would come of it. Guess what? I think he may have been right!

  2. Christ. I’m more ashamed of some of the people mentioned in your post than the gougers that inhabit Limerick. And that building is extremely ugly – looks like they designed it using lego with a few bits of duplo.

  3. Faustian pacts, always so attractive when you have reached the dizzy heights of believing your own hyperbole.

  4. I was in Doonbeg with the inlaws last hight and had a great conversation with an American couple, as we discussed our countries problems, I said for the first time ever that I am embarrassed to be Irish, how sad is that? It’s become embarrassing, from now on, I am Thor, from Norway

  5. No, Seconds out, unfortunatley I am from the land of the midnight dodgy behind closed doors brown envelopes.

  6. Ronwan if you’re embarrassed to be Irish because of a relatively small amount of tossers then you have indeed very thin skin. I haven’t heard of American embarrassment because of Madoff or Canadian because of Black. Were you not embarrassed by the legions of child rapists that we exported around the world?

  7. DG O’Donovan are brassed necked, shameless pimps.
    I have a friend who used to work for them. She says they are stingy, pretentious pricks. I believe her.

  8. Mark, I am not embarrassed by anything I have done, or my immediate heritage, I am ashamed to be associated with these corrupt cunts and there is fuck all I or you can do about it

  9. The point I’m making Ronwan is that in Doobeg you stated your embarrassment with your Irishness for the first time. Caused by the shenannigans of a few tossers. You were not moved to such heights of embarrassment by our child rapists, that;s what I find strange. Despite the child rapists, the gombeens in the Dáil and the shenannigans of tossers I am still proud to be Irish and will ever be. Mick Daly and Co. do not deserve free legal aid and should be subject to what ever clauses are in their contracts, that’s what happens to adults all the time.

  10. For clarity, DGOD are not seeking legal aid.

    Devane’s potential client is Mick “Million-Dollar” Daly.

  11. No.8, I merely stated that I am, and still am embarassed to be Irish, and especially after recent facts coming to light. The recently highlighted facts have just magnified my embarrassment, sorry if you don’t feel that way, I’m just expressing the shame I feel now.

  12. Ronwan, you’ve no reason to be ashamed. It’s the goons running the country and the banks who should be ashamed. If it’s how you feel, it’s how you feel but no need of it.

    I wonder were you American friends ashamed of being American. It’d be like feeling dumb cause your president is Bush.. It’s their shit, not yours.

    I wonder are the Icelandics or Greeks ashamed. The Irish are great.. (I’ll have to say with some exceptions of course, for the nit pickers)

  13. BOCK, I was wondering when you’d get around to this story.
    Your take on it is something that will most likely not appear in the printed media but who gives a damn about that?
    I knew one of those asswipes growing up as a kid and he was not a bad guy back then, but he was well able to stand up for himself, even as that kid.
    It is disappointing that he closed his own business just a few short years ago to take up a partnership with O’Donovan. Interestingly he’s now back out on his own again.
    That’s the shit people do and where greed motivates, shit do certainly happen. Like a lot of those suckered into accepting Fianna Fáil’s and Anglo’s shyte, he is surely fucked.

  14. If these guys had succeeded would people be marveling their pioneering spirit? They have failed so they are greedy and selfish, why are they “asswipes”? I think that they were highly irresponsible and their defence of ignorance is arrogant and bold. Their actions have caused the collapse of a well established and respected law firm, think of the employees losing their jobs because of these boyos. As I stated earlier they should face the full brunt of their contracted duties but lets get off our ivory towers. Let he who has no sin cast the first stone.

  15. In Ronwan’s defence, No.8, the cracks appeared long before the great Irish public decided to vote the criminals back into office. I am ashamed to be Irish sometimes myself. You travel and meet people and they laugh at the ludicrous situation here and you can’t defend it because it’s indefensible. I was in Italy recently and there were a group of French guys having a right laugh at the state of our ecconomy. I mean, there is a fucking pile of stuff you could slag the French about but they were exactly right to slag us off. I mean, they were FRENCH for fuck’s sake. FRENCH!

  16. I don’t think the Europeans in general are laughing at our Economy.
    They are laughing at how incredibly mind boggling ludicrous the application of solutions are being applied.
    Who could blame them ? Are’nt we laughing at it ourselves ? Through the tears and the red mist that is.

  17. These are the same genuiues who were behind the Limerick Boat Club plan (and supported by the overwhelming majority of city councillors). Just think, if not for the few objectors, we’d have a half-built concrete monolith in the middle of Sarsfield Bridge with a few idle cranes swinging in the wind for good measure, likely to be standing there just like the unfinished decaying messes that are Robert Butler’s GPO building (Henry Street) or Liam Carroll’s retail park (Parkway), to name a few. They also own a fair chunk of Bedford Row, which thankfully was completed, even though it’s about as inspiring as … well, as inspiring as most of the shite built in the last 20 years in the city.

  18. I think the buildings are quite nice actually. This isn’t a bad perspective really, considering the fact that I have to pay for the fuckers!!

  19. Ere Bock,this Daly geezer any relation to Arthur Daly,formerly of “Daly Into Europe” infamy? Seems to me,they were both at the same lark. And as for the solicitors,Del boy would be much more convincing than this lot. Having consented to summary judgement for E21 MILLION,the bold Tommy D appears on last weeksLimerick Leader as CAPTAIN,yes,CAPTAIN,of Limerick Golf Club,handing out prizes. Shameless or what?

  20. Tony C, Tommy D has accepted that he owes €21m, why should he not be Captain of a golf club and hide out prizes? Is he expected to become a recluse afraid to be seen in public? I find it hard to accept some peoples moral high ground when it comes to people who borrowed €ms to fund property deals, if no one borrowed money for property nothing would be built. These are the boyos who built what was the former Marriott Hotel. The hotel that upped the ante on hotel standards here abouts and employed a good few people. Having a Marriott brought kudos to Limerick in an international ascope. The hotel has changed names but is still a good employer. Has anyone here ever been late paying a bill? Did you hide away until it was paid?

  21. No.8 The whole fucking workforce in this country have been mugged to pay for these chancers’ greed. And its not moral high ground with me,its outrage and frustration. Yes Ive been late paying a bill (many times in fact) but the bill didnt amount to 21 million and the whole country didnt suffer. Or maybe the said gentleman is a friend of yours?

  22. I think Mr Seoirse Clancy knows a thing or two about late payment of bills. He’s the gentleman who went on RTE to explain how his construction company went bankrupt, and how he had to let his employees go, due to lack of payment for work he did on Fordmount projects.

  23. Seoirse Clancy was/is one of the better builders and employers in Limerick. He also spent time in South Africa offering his services as a volunteer building houses there. A gentleman and one of the many victims

  24. Do we have figures on the number of solicitors and bankers who offered their services building houses in South Africa?

  25. Unlikely Bock,but I’d hazard an educated guess that its very close to nil. Contrast this with their gadarene haste building houses in locations like Estepona,Puerto Banus etc. And unfortunately ,Seoirse Clancy isnt the only victim of Mr. Fordmounts reticence to honour his debts,there are many more like him who are now in shitsville. Strangely,I’ve heard that the red carpet is still being rolled out to Mr. Fordmount by certain traders who should know better at this stage.

  26. Tony C, Tommy D is no friend of mine and I said in my earlier posts that all parties to this should be subject to the law. I sympathise with Mr.Clancy and his former employees but unfortunately that’s business. I am self employed and have also been stung, nothing like Clancy & Co. but enough to make a difference, and like Mr. Clancy I also do voluntary work. I don’t see anyone waving a banner for the micro companies in this country.

  27. I see that Padraig Harrington has lost €4 in a venture in the UK. Is he a greedy bastard or just the victim of another business failure? Does it matter if he had the money to hand or if he borrowed it?

  28. No.8 If Harrington gambled and lost on an investment, that is a pity. The “investors” in Anglo who gambled did not loose . We did ! and our descendants for generations to come!

  29. Gary, all the banks but Anglo in particular lent money like confetti. I have no sympathy for the solicitors tied up in this but why are they being villified for making poor investment judgements. They’re solicitors you say, they should have known better. Well Harrington is a qualified accountant. This all smacks of shadenfreude from people who never took a risk in their lives. The world is built on credit, some you win some you lose, this one was lost get over it.

  30. No.8 with respect, you seem to have missed my point. The investors in Anglo, the people who lent to Anglo did NOT loose! They shall win. If little people invest/gamble on the markets and loose, then as you seem to suggest tough! However when the Golden Circle invest and loose, the little people pick up the bill. For some of the Golden Circle “personal guarantees” are a joke. A ruse to fool auditors.

  31. Gary I could get personal but you’re not worth it. Why do you always have to have the last word, why do you have to win every discussion? I don’t agree with your view point, I agree to disagree and you can’t resist a parting swipe of smugness. Gary I’m not suffering in silence or otherwise, please have the strength of character to leave the discussion here.

  32. “Judge, I know they owe the debt, but perhaps the court could take into account their difficult past, and in particular their severe addiction to money. They ran into a money-pusher called Fitzpatrick and he handed out the first fix free.”
    Bock you have a way with words..I love it!

  33. Read the judges comments during the Court proceedings involving O Donovan and his legal associates–Iwould hesitate before taking legal advice from these guys –if Iunderstand it correctly they did not know the import of documents they signed themselves.

  34. Jim Mansfield had a retarded son too, who got involved in property development and now his lawyers are arguing that the banks are at fault because they lent him millions when they should have had his IQ tested beforehand.

  35. Hey Bock see this???


    Austrian banks ‘laundered US$2.7 billion in mafia money’
    8/03/2010 7:30:00 AM
    Banks in Austria were used to launder some two billion euros US$2.7 billion for the Italian mafia between 2005 and 2007, the Austrian weekly profil reported Sunday citing Rome prosecutors.

    According to prosecution documents, the money was laundered through 14 accounts at Raiffeisen Zentralbank, Bank Austria — which now belongs to Italy’s UniCredit Group — and the Austrian branch of Anglo Irish Bank, profil said.

  36. I have recently gotten to know Tommy D, and I must say he is a complete gentleman. I know ye all raise good points, but I have my own thoughts on the matter. If people like tommy D did not borrow large amounts of money, we wouldn’t have any shopping centers, toll roads, swimming pools, etc, etc. Joe Soap with wife and too kids who can’t pay his mortgage is not looked at in the same shameful way. people feel sorry for joe Soap. Why is that? They both borrowed more than they could repay if things went bad.

    My opinion remains the same – Tommy is a real gentleman, who got caught out whilst trying to better himself. I say fair play to him for having the balls to try. At least he created massive employment during the boom times! No mention of those positives by others in topics like this

  37. Not sure what point you are trying to raise?? Toll roads mean we can now travel to different parts of the country much quicker. Obviously it would be better if the gov had paid for these roads, but they didn’t. That’s not the developers fault. Going a bit off topic now me thinks

  38. If these bozos in government had handled their affairs properly there would be no need for tolls. I wouldn’t be getting down on my knees thanking developers for tolls, or roads for that matter. The West link was a prime example: the greatest scam of all time until Anglo came along.

  39. My point was that we would have no large developments which we all use everyday if people like tommy d didn’t take risks. I’m off to use a private swimming pool now, and then going to go shopping in a new shopping centre.

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