Bring vulture funds into line, Fianna Fáil says

asked specifically if Fianna Fáil’s insistence the broadband contract must not be signed is a "red line" and if the party will bring down the Government over the stand-off, Mr McGrath side-stepped the.

THE regulation of vulture funds can be brought in before Permanent TSB’s (PTSB) planned sale of thousands of non-performing mortgages "if the political will is there", Fianna Fil has insisted.

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“For mortgages that are not sustainable, additional forbearance will not bring them back to a performing position.” The net effect of the transaction remains that another bank is outsourcing its dirty.

VULTURE funds – who have snapped up thousands of home, farm and business loans – will no longer be "untouchable" thanks to a fianna fail bill that is to come into force. The Government has.

A vulture fund is a hedge fund, private equity fund or distressed debt fund, that invests in debt considered to be very weak or in default, known as distressed securities. Investors in the fund profit by buying debt at a discounted price on a secondary market and then using numerous methods to gain a larger amount than the purchasing price.

Fianna Fail finance spokesman Michael McGrath criticised the sale. “The net effect of the transaction remains that another bank is outsourcing its dirty work to a US vulture fund. line with his.

Fianna Fil’s success was credited by The Irish Times to its local structure. The basic unit was the cumann (branch); these were grouped into comhairle ceantair (district branch) and a comhairle dil ceantair (constituency branch) in every constituency. At the party’s height it had 3,000 cumainn, an average of 75 per constituency.

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Fianna Fil Spokesperson on Finance Michael McGrath TD says a fianna fil private members’ bill, which will bring so called ‘vulture funds’ within the full suite of Central Bank regulation, is needed more than ever, following a ramping up in recent times of loan sales by banks to foreign owned private equity funds.

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