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 is prepared to throw people out on the street in the interest of getting money from the vulture funds. Perhaps the sum would be greater if the bank decided to sell the loans directly to its customers. That is not debt forgiveness as the bank would make its customers pay more than what it might get from a vulture fund. I am sure such a situation is of interest to the bank's shareholders, its balance sheets and everything else.

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