Results 22,361-22,380 of 23,109 for speaker:Paddy Burke

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Allied Irish Banks (11 Apr 2019)

Paddy Burke: The bank has sold the loans at this stage.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Allied Irish Banks (11 Apr 2019)

Paddy Burke: The deal is done. There are some people who are in dispute over their tracker mortgage and their loans have been sold on to Cerberus. Is that the case?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Allied Irish Banks (11 Apr 2019)

Paddy Burke: All those people have received notice from the bank that there has been a conclusion to their case and their loan has been sold on. For people who have gone through this tracker mortgage case, the new owner of their loans is Cerberus. Is that the case?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Allied Irish Banks (11 Apr 2019)

Paddy Burke: I understand that but some of those loans are of people who have gone through the trauma of the tracker mortgage issue and have reached a deal with the bank. After all that, they now find that the loan has a new owner.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Allied Irish Banks (11 Apr 2019)

Paddy Burke: Any loans which are still in dispute are not sold but can be sold at a later date.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Allied Irish Banks (11 Apr 2019)

Paddy Burke: Where do those who have gone down the legal route stand?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Allied Irish Banks (11 Apr 2019)

Paddy Burke: Yes.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Allied Irish Banks (11 Apr 2019)

Paddy Burke: That loan will not be sold on.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Allied Irish Banks (11 Apr 2019)

Paddy Burke: People who have tracker loans and are in dispute with the bank have found that their loans were sold to Cerberus in the most recent loan sale.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Allied Irish Banks (11 Apr 2019)

Paddy Burke: Are the loans of the customers who are able to repay them being held by the bank? Are they seen as good loans and are not being sold?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Allied Irish Banks (11 Apr 2019)

Paddy Burke: It is the loans of the customers who are not engaging or who cannot meet their repayments that are being sold when everything is taken into account, including compensation and so on.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Allied Irish Banks (11 Apr 2019)

Paddy Burke: In that case, it will not be sold.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: No Consent, No Sale Bill 2019: Discussion (Resumed) (18 Apr 2019)

Paddy Burke: I congratulate our guests on the wonderful work they are doing on behalf of people who have got into serious difficulties. When a loan is sold, is everything sold by the bank to the vulture fund, that is, the loan, the property and everything? I have come across a couple of cases where loans were sold and then the vulture funds sought vacant possession of the houses or apartments involved...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: No Consent, No Sale Bill 2019: Discussion (Resumed) (18 Apr 2019)

Paddy Burke: Is Mr. Joyce stating that the affidavits involved could be shady and that they might not contain the whole truth?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: No Consent, No Sale Bill 2019: Discussion (Resumed) (18 Apr 2019)

Paddy Burke: In some of the cases to which I refer, it seems that the person who owns the property was trying to deal with the bank, then the bank sold the loan and now that person finds that it is the original bank which is trying to evict them.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: No Consent, No Sale Bill 2019: Discussion (Resumed) (18 Apr 2019)

Paddy Burke: Is this within the law?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: No Consent, No Sale Bill 2019: Discussion (Resumed) (18 Apr 2019)

Paddy Burke: Is Mr. Hall stating that it is separate?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: No Consent, No Sale Bill 2019: Discussion (Resumed) (18 Apr 2019)

Paddy Burke: I thought all this data was circulated between the banking institutions.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: No Consent, No Sale Bill 2019: Discussion (Resumed) (18 Apr 2019)

Paddy Burke: Through the courts.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: No Consent, No Sale Bill 2019: Discussion (Resumed) (18 Apr 2019)

Paddy Burke: Do they have any recourse?