Mr. Brendan Burgess:

There is no flexibility. That is a myth, that is a spin. That is pure blatant PR. One of the funds, Maurice Capital has evolved in the past number of months and has started to introduced some of the restructures that are similar to the banks, which is welcomed, but ultimately a vulture fund does not provide any restructuring solutions. It is a myth that they will write off debt and one can sit down and have a chat with them; that is blatant rubbish peddled by banks, by vulture lovers and by vultures. They will not come in because they cannot tell the truth. They have done nothing wrong. The vulture funds get a red carpet rolled out, they are brought in and a State owned bank gave them the first cut at the market place. What chance had people got to engage if they thought their loans were going to be sold on?

Vulture funds have done nothing wrong. They are feasting on the carcases of debtors and it is a policy of Government to outsource dirty work and vultures are the companies that will do the repossessions.