John McGuinness (Carlow-Kilkenny, Fianna Fail) | Oireachtas source

I refer to the sale of loans to vulture funds. In the case of the sale of a loan to a vulture fund, all of the paperwork and commitments regarding it goes to the vulture fund. If there is a decision in court that legal fees should be paid by the bank that sold the product, is it the bank or the vulture fund who pays? I presume it is the bank. The evidence I have is that in a number of cases the same bank has refused to honour its commitments to a customer, some arising from a court case. The bank has said the vulture fund is responsible. Substantial money is involved and the customer is again pushed out to try to have a fight with the bank. Of course, all a bank has to do nowadays is stonewall the customer, in particular if it is no longer operating in this jurisdiction. In a case like that, what role does the Central Bank play in ensuring that a bank that sold loans honours the obligations it had when it had the loan?