Bring vulture funds into line, Fianna Fáil says

Mr Cowen says that one of his priorities is the abolition. In today’s Irish Examiner, Mr Cowen reveals Fianna Fáil’s six main policy positions heading into those talks. He writes: “Our policy.

Finance Minister to bring Fianna Fil proposals to Cabinet on dealing with vulture funds.. Two people who jumped into the River Liffey in Dublin to save a dog have been rescued.

And it is gleefully championed by an Irish Government, led by Fine Gael and backed by Fianna Fail. into the coffers of vultures. This is the mark of a broken economy. What self-respecting.

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.

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.

A proposed new law will protect mortgage holders from so-called vulture funds, the Taoiseach has claimed. leo varadkar said legislation was currently being enacted to ensure those repaying mortgages to investment funds will have exactly the same consumer protections as those with loans from a bank.

He said an internal report was commissioned into the tracker mortgage scandal. rule out further loan portfolio sales to so called ‘vulture funds’. He told the Committee that the bank needs to bring.

Fianna Fil has seen its support rise to the highest level in almost two years after its move to block the sale of distressed mortgages to unregulated vulture funds. The party is up by three points to 29 per cent in the latest Sunday Business Post/Red C opinion poll. The poll was taken at a time.

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