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

Mr. Stephen Groarke:

-----so that would be after the sale agreement has been signed by us. With regard to that particular clause in the contract, our view is there are customer protections from two perspectives. One is that just looking at the legal system alone, it would be highly unlikely that if we or a fund took a unilateral view to cancel the contract based on it, that that would be supported by the courts.

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