Developers’ debts - One law for rich another for the rest

THOSE involved in nearly 200 repossession cases scheduled for the High Court in January — there will be many more during next year — watched Monday night’s RTÉ Prime Time with a special interest which probably turned into confusion and ended in anger.

They were not alone.

So too did the tens of thousands of individuals, families or businesses involved in fraught correspondence with banks over repayment schedules made impossible by deteriorating circumstances. Many of those worried, decent people will wonder why they did not follow the example of so many high-living developers and transfer assets to spouses to try to put them beyond the reach of their creditors or, hypothetically, the National Asset Management Agency (Nama).