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
Kieran O'Donnell (Fine Gael) | Oireachtas source
With due respect to the witnesses they have already put out a tentative invitation to various funds - including vulture funds, and some Irish banks, I hope - to purchase these loans. Included in that portfolio are 4,300 split mortgages that are working. This is like pulling teeth, because we are pushing the witnesses and going down alleys to extract information. We accept the point that the witnesses have a difficulty in terms of restoring the bank. Mr. Masding said that the market capitalisation of the bank is €800 million and that the taxpayer is owed €1.5 billion. Is that correct?
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