DJ Carey

Former hurling star had about 80 per cent of his €9.5 million debt written off after sales.

Mr Carey reportedly bought the four-bedroom property for about €3 million in 2005. One of the K Club houses, 908 Ladycastle, was sold for €717,000 in August 2015. Land Registry records show that Mr Carey was registered as the owner of the property in April 2006 and his ownership was cancelled in January 2016 following the sale of the house the previous year. [Flann O’Brien: Acting Out captures the energy and originality of O’Brien scholarship at its very best](/culture/books/review/2023/02/18/flann-obrien-acting-out-captures-the-energy-and-originality-of-obrien-scholarship-at-its-very-best/) [Ireland’s first ambassador to Ukraine: ‘To see the pain inflicted by this unjustified invasion really resonates with me’](/world/europe/2023/02/21/ukraine-to-see-the-pain-inflicted-by-this-unjustified-and-unprovoked-invasion-really-resonates-with-me/) [I Am Not an Alcoholic: ‘Will you regret taking this drink?’ Yes. Land Registry records show that he became owner of the property in May 2008 and that his ownership was cancelled in September 2014 following the sale of the property. The proceeds from the property sales and the €60,000 settlement represent a debt write down of just over 80 per cent on the total value of the outstanding debt Mr Carey owed to the bank.

The 99pc debt write-down for hurling star DJ Carey by AIB bank has been raised with the Taoiseach in the Dáil.

There is a relationship framework, according to which the Department of Finance has engaged with the banks. It is based on ensuring that it (the relationship) is commercial and at arm's length.” “But that needs to be looked at, I think. He asked if these directors were knowledgeable about specific write-downs to such a level. “Did they give this information back to the Department of Finance to the Minister for Finance? He said: “I believe the Government should have an understanding of the policies of banks, especially banks, that are in part owned by the State.”

Earlier this week, RTE revealed that AIB had agreed a deal with Kilkenny hurling star DJ Carey to write off 99 per cent of a €9.5 million debt he owed the bank.

The 99.37 per cent reduction of the debt of €9,528,411 was referred to in a settlement document as a “compromise”. [AIB ](https://www.thesun.ie/topic/aib/)and the [Kilkenny](http://thesun.ie/where/Kilkenny?_ga=2.116060742.1977160798.1676981558-1008630440.1659171684) hurling star as “astonishing” and “jaw dropping.” [AIB had agreed a deal](https://www.thesun.ie/money/10257721/aib-explain-debt-write-down-gaa-dj-carey-oireachtas/) with Kilkenny hurling star DJ Carey to write off 99 per cent of a €9.5 million debt he owed the bank. GAA star DJ Carey’s enormous debt write off deal with AIB has been raised with the Taoiseach in the Dail. [Kildare](https://www.thesun.ie/where/kildare/) TD added: “I don’t think this is a one off but we need to understand the methodology and why some people are pursued for very small amounts of money… GAA star DJ Carey’s enormous debt write off deal with AIB raised in Dail with Taoiseach

Taoiseach Leo Varadkar said that the bank could explain their approach for carrying out writedowns at the committee.

And indeed were there other write downs like this and to explain and have the debate.” I’d like to see AIB come before the Finance Committee to lay out exactly the nature of this. “Whilst the state had effective ownership over AIB at that point, they didn’t have policy direction over the bank. More than 5,000 readers have already pitched in to keep free access to The Journal. For the price of one cup of coffee each week you can help keep paywalls away. Readers like you keep news free for everyone.

Paschal Donohoe said conversations around 'the issue of solvency within our economy' need to be had.

"I think we do need to recognise confidentiality between clients and banks, as I've said, but general discussion regarding how these issues are dealt with I do think is appropriate," he added. "I think it is appropriate, however, [that] we do have a broader debate regarding how we deal with the issue of solvency within our economy, how we deal with the issue of how we write-down debts - and what that means for a sense of fairness regarding how these issues are dealt with." "I think it's understandable that the media commentary and media reporting on an issue like this does raise questions and cause debates, regarding what should be the magnitude of changes that are made when banks and those they deal with are involved in negotiations regarding how debts are written-down," he said.

Majority State-owned bank addresses debt write-down for Kilkenny hurling star in circular to staff.

[Flann O’Brien: Acting Out captures the energy and originality of O’Brien scholarship at its very best](/culture/books/review/2023/02/18/flann-obrien-acting-out-captures-the-energy-and-originality-of-obrien-scholarship-at-its-very-best/) [Ireland’s first ambassador to Ukraine: ‘To see the pain inflicted by this unjustified invasion really resonates with me’](/world/europe/2023/02/21/ukraine-to-see-the-pain-inflicted-by-this-unjustified-and-unprovoked-invasion-really-resonates-with-me/) [I Am Not an Alcoholic: ‘Will you regret taking this drink?’ Yes. Mr O’Keeffe told staff in the circular sent to thousands of AIB staff on Tuesday that the bank may also “take account of third party certification as to a borrower’s income and asset status and may also consider other documentation relating to the borrower’s personal circumstances”. In the memo, seen by The Irish Times, Mr O’Keeffe told staff that “some of the external commentary over recent days does not provide the full picture” and that the bank had a “robust governance process for debt resolution and this process was followed”.

AIB has defended its seven-figure write-down of GAA legend DJ Carey's €9.5million debt, amid queries over how this settlement was reached.

A letter will now be sent to AIB from the committee in which it will ask about the system and methodology the bank employs for write-downs. to discuss its policies on this.’ Following a query from Mr Tóibín to the Taoiseach regarding write-downs afforded to citizens by AIB in the past few years, Mr Varadkar said he was ‘reluctant to talk about any individual’s personal finances’, whether they were ‘famous or not’. AIB is to be called into the Oireachtas Joint Committee on Finance, Public Expenditure and Reform… The State still owns more than half the bank after it was bailed out to the tune of €20.8billion, starting in 2009, after the house price crash the year before led to the banking debt crisis. It will also seek to find out if debt write-downs were flagged to the bank’s board and its public interest directors. It is very difficult for many people to see what appears to be two cohorts of individuals being treated differently. Let’s cut the rubbish, lance the boil, get on with finding out whether the file was dealt with in an equal way. On Tuesday, Taoiseach Leo Varadkar told the Dáil he was reluctant to comment on any individual’s personal finances, but said of the mechanism employed in recovering the debt: ‘I imagine it’s linked to how much the person is able to pay back, rather than who they are.’ ‘In such cases, the process seeks to exhaust all appropriate avenues to realise value for the bank from any available secured assets. However, TDs across the political spectrum have demanded clearer answers from AIB on how many individuals see such a substantial portion of their debt written down. He said: ‘AIB needs to go a step further. Kildare and a third at Mount Juliet in Co.

AIB's settlement with Kilkenny hurling star is typical in High Court-approved personal insolvency arrangements.

They had more than €12 million written off in deals supported by creditors who shared a lump-sum settlement of just €12,500. The bank followed “robust governance process” in debt-resolution cases, he said. “The amount that a borrower has to pay to settle an unsecured debt bears no relation to the amount owed and is solely linked to their means to repay,” he said. This amounted to a debt write-down of more than €7.7 million once the €1.7 million proceeds from the sale of the three golf resort properties and the €60,000 settlement are taken into account. Carey’s settlement is one such agreement. RTÉ revealed last week that the bank reached a €60,000 deal in full and final settlement of his liabilities in 2017 and that the settlement funds were received by the bank the following year.

Last weekend it emerged that retired hurler DJ Carey had his debt written down from €9.5 million to €60000 in a settlement six years years ago.

"I think it is understandable that this debate has arisen. "And nor they do they at the moment. They are entitled to a degree of privacy and confidentiality.