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): Allied Irish Banks

9:30 am

Photo of Pearse DohertyPearse Doherty (Donegal, Sinn Fein) | Oireachtas source

Okay. How come AIB cannot say that but Permanent TSB can tell us that Project Glas is this, that and the other and while it is not saying how much it is going to be sold for it can indicate the book value of the loan sale? It is very clear from media reports, which are going unchallenged, that someone - I presume from AIB - is briefing the media that there is a loan sale, that it is called Project Redwood, it has a book value of €3.75 billion and that it has three bidders at the final stage. All that information is there. I am sure the part about the bidders cannot be told to the committee but I presume we can talk about the make-up of the portfolio that is being scrutinised by vulture funds currently

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