Kate O'Connell (Dublin Bay South, Fine Gael) | Oireachtas source

I thank the Ceann Comhairle for giving me the opportunity to discuss this matter. It concerns two citizens of Ireland, Patrick Halpin and Anne Keane of Aberdeen Lodge, and their young family. They are running a modest business and were encouraged by so-called experts to expand it some years ago. It went wrong for them, as it did for so many others. Their expansion failed and they ended up carrying losses. The problem is that a cross-guarantee on their family home and the business that is supporting their two young children is being pursued. Pat and Anne are paying €5,000 a month towards their home and business which are one and the same. Deputy Durkan and I have written to the bank and its agents and legal representatives offering to bring about an amicable solution for both the family and the bank. The situation has caused huge strain for the family. We have approached the experts and agents as two elected Members of this House more than a dozen times, but they have failed to meet us on any occasion. Goldman Sachs and its agent, Pepper, is pursuing the case. Goldman Sachs has refused to meet Deputy Durkan and me, no matter how many times we have asked. This is not what we expect from a reputable major international lender. To my mind, it is a vulture fund attempting to seize an asset that has increased in value by a huge amount in the past few years. The couple has offered to pay off the outstanding moneys on their business and family home, but this has not been accepted or even explored to any great extent. We are raising the issue today because persistent efforts by me and Deputy Durkan as elected representatives have failed to do anything. We have acted on behalf of two citizens of the country and their two young children who will be on the street if the repossession goes ahead.

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