This was the judgement of the Supreme Court today when characterising a John J Fleming company which examiners wanted to be held moribund for 10 years “in the hope that the property market would improve”. This was rejected by the Supreme Court who referred to the argument as “an aspiration based on hope”.
Whilst it is not immediately apparent in the NAMA business plan the relevance of the oft-quoted assumption that the property market would increase by 10% in 10 years, the Supreme Court’s judgement in the Fleming case must give NAMA notice that all assumptions must be robust and not founded in hope alone.
NAMA Wine Lake 
The hundreds of people that are losing their homes to the same banks cannot use the excuse that their homes will be worth a lot more in the distant future
these banks are obviously not accepting that this is the case because I haven’t heard of even one instance where the banks have accept to allow for this possibility with ordinary home owners in distress !
One law for the rich and some else for the rest of us comes to mind
Let’s hope this expert group that begins work this week under Hugh Cooney can deliver realistic solutions to the many thousands in negative equity (I saw estimates up to 300,000 at the end of this year of the 800,000-odd mortgages). I myself would like to see a reform of bankruptcy laws that allow people in a hopeless situation to clean the sheet and move on with their lifes. I would also like to see Ireland adopt a form of bankruptcy akin to the UK where individuals with very little assets can arrange a payment of a few cent in the euro to creditors and again start again. With €118bn outstanding on mortgages in the State, this problem will need something of the scale of NAMA but capable of dealing with 100,000s instead of 1500 borrowers.