Oireachtas Joint and Select Committees
Thursday, 26 January 2017
Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach
Business and Banking: Discussion.
10:00 am
John McGuinness (Carlow-Kilkenny, Fianna Fail) | Oireachtas source
Some of the vulture funds have written to say it is not convenient to come in but the majority have not replied to us. I find it unacceptable that a group of vulture funds handling considerable property portfolios in this State do not feel obliged to come before the committee. We agreed, in private session, to pursue this matter as robustly as possible in order to ensure that they come before us or engage with us in an open and transparent way, as they do privately with Ministers and the Department of Finance. The citizens of this State deserve at least that much from them. Does Mr. Beades have any idea of the type of deals that are done with these vulture funds? How much of the overall debt that they buy is generally knocked off?
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