Oireachtas Joint and Select Committees
Wednesday, 26 February 2014
Joint Oireachtas Committee on Finance, Public Expenditure and Reform
Sale of IBRC Mortgage Loan Book: Discussion
4:10 pm
Michelle Mulherin (Mayo, Fine Gael) | Oireachtas source
We know there are people with families who are concerned they will be thrown to the wolves in the hedge funds and their vulture-like activities. Even if Mr. Wallace can give a legally binding commitment from current bidders, nothing will save them from something else further down the line. This is empty, notwithstanding the two weeks work. It means nothing to these people. We must be straight with people because we are talking about their lives.
Mr. Wallace stated that if there was an enforceable stipulation in respect of the code of conduct on mortgage arrears, it could put the loan sale at a disadvantage in respect of the sale price. Have any bidders pulled out? I assume the answer is that they have not.
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