Oireachtas Joint and Select Committees

Thursday, 22 March 2018

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach

Proposed Sale of Non-Performing Loans to Private Investment Funds (Vulture Funds): Permanent TSB

9:30 am

Photo of John McGuinnessJohn McGuinness (Carlow-Kilkenny, Fianna Fail) | Oireachtas source

PTSB will write-off debt when it sells the loans to the vulture funds. Bearing the write-off that the bank has in mind, maybe the customer might pay it more than what it will receive from the vulture funds in order to restructure a loan. Why not give the customers the benefit of what it is about to do? Why not allow customers to stay in their homes and pay a restructured loan?

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