Irish Life&P.Gp Share Discussion Threads

[shareho1der] 01/7/2012 09:51

After the agreement to review the irish banks bailout, I wonder if PTSB will now borrow 2.3 billion euros from the ESM to buy out the govt huge shares for cancellation.

Any thought on this from the good people on this thread ?

[shareho1der] 29/6/2012 18:23

Last day to re-capitalised, folks.

Time to move on .......

[loverat] 28/6/2012 19:13

Certainly would be a better chance of some justice in the UK. Particularly if any of these Irish cases are anything to go by.

[investorpesant] 28/6/2012 19:02

all i can say is its a pity this challenge wasnt held in a uk court.

[cudman] 28/6/2012 13:14

The High Court has cleared the way for the proposed €1.3bn sale of Irish Life and Permanent's life assurance business, the Irish Life Group, to the Minister for Finance.

[shareho1der] 13/6/2012 21:59

Loverat, fill your boots.

Shame I have no spare cash.

[loverat] 13/6/2012 16:58

Sharehol1der

Are they worth buying, do you think?

I see they are very low again (2c)

[loverat] 09/6/2012 10:57

The standards of corporate governance and fraud on AIM is one of those things that at the moment many people and regulators etc deliberately ignore in the hope it and complaints go away.

It is the same with solicitors. Up until recently it was accepted that most were appalling but nothing could be done.

Over the next year I suggest you follow events in the above two examples and watch the change and be pleasantly surprised.

The 'Shareholder Spring' or the campaign against appalling solicitors might spread to other industries. Who knows - in a few years time you might be able to take your car for a service to the local garage without being ripped off and meekly thanking the mechanic for doing so.

[loverat] 09/6/2012 10:47

Shareho1der

I have held all the above. All speculative - some I lost a bit. The point is I was looking at the original 10 stocks I invested in 9 years ago as a new investor/trader (mainly considered lower/medium risk AIM stocks at the time) All the companies have disappeared, delisted, pre-packs or directors deliberately run the company into the ground.

To some extent I accept that this is part of life on these markets but one has to draw the line. Given the attitude by some people on this site, not long ago I was beginning to think that I was in the wrong to complain about fraud, breathtaking incompetance and greed.

Well, not any more. Take a look at PMK. One small group of shareholders have done more in 3 weeks to put up a fight against corporate greed than I have seen combined over the last few years. Here is rather different - the Irish government supported by our directors have committed fraud and are not accountable. But I feel directors (including the ones here) will find the going gets very tough very soon.

While we are waiting for that to happen hopefully Piotr is giving them a hard time in the courts.

[shareho1der] 04/6/2012 16:02

Loverat,

I don't know what it's about you and dodgy corrupt directors.... colliers UK, MHG, PMK and IPM all come to mind.
What is the attraction ?

[loverat] 29/5/2012 05:18

I posted this elsewhere about corporate greed in AIM boardrooms and greed and unnaccountablity elsewhere. I wonder if the directors think they have got away scot free from this. If so, they can think again. Publicity is the key to dealing with inept and greedy directors.

This article posted on another AIM board and my comments:




Sir Richard Needham quits Lonrho board after bust-up with chairman.

Loverat
29 May'12 - 05:12 - 239 of 239 edit

I found that article quite revealing and amusing. The man seems to be either somene who thrives on publicity (often bad) or is his own worst enenemy.

Some directors never learn do they? I heard and read a few things yesterday which sort of made me think of my investments on AIM and the directors who act like a law unto themselves and who are downright greedy. Most AIM investors seem to grudgingly accept corporate greed as part of life. My feeling was that there seems to be signs that public mood is rapidly changing and that 'payback time' is near for some. Certainly been a few shareholder revolts lately and interesting fellow directors are now joinng in. Good on them - lets see more directors protect their shareholders against this type of thing. After all, their duty is to shareholders - not to themselves.

These are quotes I observed elsewhere yesterday which made me think. This from Law Society Gazette which sums up the greed which seems to have taken hold in our society generally. This describing the greed of insurers, claims managment companies and solicitors in dealing with injury claims:



'Sadly, such practices are symptomatic of our times, whereby financial gain and profiteering by all players within the current PI system - insurers, claims management companies and solicitors among them - have been put far above the rights and needs of injured persons.'


Tony Blair at the Leveson Enquiry describing (if my memory serves) briefing against other ministers:

'I did not take part in the practice myself because I strongly believe what goes around comes around'

Too right it does!

[judgement] 24/5/2012 00:22

In court again later today it seems.

[loverat] 22/5/2012 21:09

Indeed - sometimes I despair at the fools who run this company.

[shareho1der] 22/5/2012 18:17

A waste of time, this AGM

[loverat] 22/5/2012 16:13

Sounds a little more promising than quoting David and Goliath as he did a few months back. Another well known shareholder activist who referred to the story when speaking to the press had his case dismissed by the judge as 'wholly hopeless'

[cudman] 22/5/2012 16:07

Piotr quoting Yogi Bear at the AGM apparently, dunno what thats about.
99.2% of vote in favour...... unsurprising

[investorpesant] 21/5/2012 22:26

piotr
got an email of piotr tonight reminder about the AGM tommorow but strangely refering to it as an EGM ????
regarding any legal proccedings just my thoughts but the recapitalisation will be complete june 28th.and maybe this as to happen before any litigation.facts the bank was nationalised on delevariging costs 2.2bn these obsurd costs going of recent events dont seam to apply,the sale of irish life plus the LME was to raise 1.1bn but the LME and the procceds from the goverments aqusition of irish life adds up o 2.3bn,the forcast for the baseline loses was 1.6bn house prices to fall up to 52% stress case losses 2.6bn house prices to fall 59% theses havent happend yet house prices have fallen 49%. if anyone reads the 2011 results amazingly only 200 million was put aside for the increase in defaults in 2011 the rest was to do with house price falls and writedowns brought forward from 180 days in arreares to 90 days.but like i say just my thoughts.

[shareho1der] 21/5/2012 09:45

Piotr has got what he always wanted .... a seat on the board.
Why should he care about us now.