Oireachtas Joint and Select Committees
Thursday, 10 May 2018
Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach
Banking Sector: Quarterly Engagement with the Central Bank of Ireland
9:30 am
Rose Conway Walsh (Sinn Fein) | Oireachtas source
People do feel they are dealing with it on their own, however, so they ring and ring again, but there is quagmire of information failure. I am asking about cases where the vulture fund is not willing to negotiate with small businesses and receivership has been instigated, or a building is sold from under the business and the owners are forced to sign a lease for multiples of what the property's value had been. I am not referring to non-performing loans but loans where the interest was being paid. The main aim of the vulture fund was to take the building and make as much money as it possibly could. I am also concerned about the risk to jobs in the small businesses which experience this behaviour from vulture funds.
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