Michael Lowry's Irish Nationwide debts and undeclared land deal

[DCon]

Well I've had a look at a few sites offering greenbelt land with and without planning permission in and around Wigan and I have to say Michael is off on another of his fantasy tales.

Apart from the fact that the current government has a policy of allowing planning permission on greenbelt sites which would mean even without any kind of planning permission that 25 acres is worth a lot more than Michael is saying it is worth.

7 acres near Wigan with no planning permission described as 'equestrian, grazing' is worth £250,000.

10 acres of farmland, no planning permission, describes as 'grazing farmland' is worth just under £600,000.

If Michael's land is light industrial or run down industrial estate or something he is very likely to get permission to renovate it whereas some greenbelt land would be difficult to get permission to build on for obvious reasons.

I'd say Michael and his accountant are talking through their everloving holes and the revenue might want to take a look at his accountant's glasses.

http://www.uklanddirectory.org.uk/cu...rchresults.asp

There would have to a large WWII bomb, nuclear or toxic waste, or Fred West's playground on that 25 acre land to have it marked down to where Michael thinks it is in land terms.

Micko disagrees!

"If it was included in a development plan, which will happen next year or the year after, then it would have a value and then I would have to be declaring it in my interests," he told Tipp FM. "But as it stands at the moment I have no obligation whatsoever."

http://www.irishexaminer.com/world/l...ue-212525.html

[Captain Con O'Sullivan]

In other words I was right- it is Lowry's own valuation that the land is worth nothing. And if all the Oireachtas members were allowed to value their investments at nothing then nothing need be declared.

The actual value of that 25 acres should not be determined by the owner for declaration purposes at 'zero'.

Its actual value to a surveyor or if it was to be sold is at least a six figure sum.

[Stanley 2]

http://www.irishtimes.com/newspaper/...325938366.html


Lowry must breal his arse laughing when he reads articles like this

[C. Flower]

How to seriously complain about Lowry -

http://twitpic.com/babw5g

[DCon]

In other words I was right- it is Lowry's own valuation that the land is worth nothing. And if all the Oireachtas members were allowed to value their investments at nothing then nothing need be declared.

The actual value of that 25 acres should not be determined by the owner for declaration purposes at 'zero'.

Its actual value to a surveyor or if it was to be sold is at least a six figure sum.

Tomorrow's Examiner has a figure of EUR 6,700,000 for the worthless land

[MPB]

Tomorrow's Examiner has a figure of EUR 6,700,000 for the worthless land

In my humble opinion, Lowrey is a crook.

[musashi]

Lowry strikes again lol 7.6 million under-declaration of interest.
This kind of corrupt carry-on is never dealt with because it's the rule, not the exception.
If one of them falls they all fall, simple herd mentality.
So nothing will happen, there'll be a bit of a who-ha, a few fingers pointed across the room, it'll all blow over - like Wallace.
Yawn, wake me for the election: actually don't.
zzz

[musashi]

How to seriously complain about Lowry -

http://twitpic.com/babw5g

The fact that the clerk of the Dáil doesn't receive emails, in this day and age, is ****** retarded, but I'll write the goddamned letter, for all the diff it'll make.

[DCon]

Tomorrow's Examiner has a figure of EUR 6,700,000 for the worthless land

Story here http://www.irishexaminer.com/ireland...7m-213092.html

An agent handling Michael Lowry’s "worthless" property investment in England said a buyer would do well to acquire it for less than €6.7m.

The agent was contacted by the Irish Examiner, posing as a potential buyer for the 22-acre tract on the outskirts of Wigan.

He said the property was unlikely to be included in a proposed employment park, but believed it would get permission for residential use in the future.

An indicative offer of £300,000 an acre for the developable portion of the site was put to the agent. He said it was in the region of what was acceptable in a poor market.

"[With the £300,000 offer], you are talking about development of 12 [houses] to the acre... So you are talking about £25,000 a plot which, let’s be honest about it, that is cheap. If you can get it for £300,000 an acre you are doing well.
"But everything has got a price," he said.

When the agent was contacted later to explain the true context of the original call, he said there was an agricultural value of £4,000 an acre (€110,000 in total) but, as with any investment, there was a speculative "hope value" linked to its likely rezoning.

[PaddyJoe]

Lowry was on Tipp FM again today. Conor Ryan has uploaded a transcript of the interview which is full of the usual evasions and prevarication.

https://www.documentcloud.org/docume...wry-td-on.html

https://twitter.com/conor_w_ryan

[Stanley 2]

Story here http://www.irishexaminer.com/ireland...7m-213092.html

Lowry will hit the roof when he reads that article and will regret ever having declared his company's interest in the first place, probably hoping nobody would pick up on it when he placed into his personal name, he can now look forward to a nice tax bill or maybe the land can be taken over by Moriarty as a cost's contribution.

[Stanley 2]

http://www.irishtimes.com/newspaper/...reaking56.html



Lowry sidesteps the Dail Committee with ease, next.

[DCon]

http://www.irishtimes.com/newspaper/...reaking56.html



Lowry sidesteps the Dail Committee with ease, next.

I wonder how many other captain's of democracy in the Dail are valuing land banks at under 13K

[PaddyJoe]

Good stuff by Conor Ryan.
Lowry really is some piece of work. He implied in that Tipp FM interview that he had spoken to Ryan and texted and in fact he didn't do either. Then he has the gall to claim 'bad journalistic practise'
https://www.documentcloud.org/docume...wry-td-on.html

[DCon]

How to seriously complain about Lowry -

http://twitpic.com/babw5g

83 complaints made

In a statement, Mr Lowry said he would now declare his 50% share in the land but believed he was under no obligation to do so because it was of "negligible value".

"I have made this entry in response to wildly inaccurate speculation regarding its value," he said.


The Oireachtas confirmed it had received an amended declaration from Mr Lowry. It also said the clerk of the Dáil had received 83 complaints from the public calling for a probe into the Tipperary North TD’s assets. The Wigan property, which was the centre of blackmail allegations investigated by the Moriarty Tribunal, has twice been considered for lucrative rezoning options in the last year[/url].

Wigan Council recently confirmed the site will not form part of a proposed employment park.

However, a proposal has been submitted by a neighbouring landowner to include it in residential development.

http://www.irishexaminer.com/ireland...ts-213251.html