Seanad debates

Thursday, 22 February 2018

10:30 am

Photo of Jennifer Murnane O'ConnorJennifer Murnane O'Connor (Fianna Fail) | Oireachtas source

In the past week we have all been devastated at the news over the vulture funds and I know the Minister will be addressing it. I want to bring to the attention of the House a particular case I have been dealing with. It is crucial and I have had several of these. Vulture funds are investment companies that pick the bones of the living. The vulture fund companies need to be regulated just as banks are. They need the same standards and transparency, and most importantly they need to pay taxes on their huge profits. This is a massive issue for me.

These vulture fund companies need to allow local authorities and other Government agencies access to information on properties purchased through distressed loans acquisitions.

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