We were asked to take part in the Prime Time show about private property trusts and freemen philosophy. They are separate things but in Ireland have close links or ties through their membership. The show looks at some of the promoters, their views and also critiques them via other contributors and practitioners.
The ‘Kilkenny Trust’ that makes mortgage debt disappear
There has been talk recently of a group based in Kilkenny who have a method for putting properties beyond the reach of banks. According to papers even Bill Cullen is part of it. Upon hearing about it and how it used a ‘trust’ structure to put property out of harms way we initially thought it referred to [glossary id=’6991′ slug=’unencumbered’ /] properties; but apparently it works for all properties including those for which there is a [glossary id=’6898′ slug=’mortgage’ /] secured against the home according to its promoters.
We were asked by a client to attend one of the presentations the group held, it was in Kilkenny in the back room of the Kilford Arms and was free of charge. The two people who talked at the meeting were a man named Noel Brophy and another named David Walsh, the first was a builder in the USA who returned home and had since gotten into disagreement with lenders, the other a man who was fighting banks but for whom …