Oireachtas Joint and Select Committees
Thursday, 9 May 2019
Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach
Matters Relating to the Banking Sector (Resumed): Ulster Bank
Paddy Burke (Fine Gael) | Oireachtas source
The second relates to the sale of portfolios to vulture funds. It has been brought to my attention in some cases that where the loans are being sold and where the vulture fund wants to get vacant possession, be it through eviction or the sale of the home, in some cases, it is the bank - Ulster Bank in this case - rather than the vulture fund that serves the eviction papers on the client. When Ulster Bank sells its portfolio of loans, is it finished with them or does it still hold the papers and the rights to serve papers in this case if they are required to be served for court proceedings or evictions?
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