Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source

The Minister obviously does not know what is happening under his nose. Ulster Bank sold a portfolio of more than 2,000 buy-to-lets to Promontoria Scariff. Cabot is administering them. It is appointing a receiver to all of those properties. It is telling them to clear the arrears within 30 days or a fixed asset receiver will be appointed. That means they are taking the asset whether there is negative equity or positive equity. They are not facilitating any arrangements. All of these tenants in these assets will get a notice to quit. This has happened because of the Minister's policy of rolling out the red carpet to the vultures. They can do this because nothing can be legally done to prevent them from doing it. That is happening right now.

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