PTSB to be sued over €800m loan book

Portfolio consists of PTSB’s former Leinster and Munster commercial real estate loan portfolios

18th December, 2016
PTSB are set to be sued Pic: RollingNews.ie

Deutsche Bank and Apollo Global Management are set to sue Permanent TSB in a dispute over a €800 million property loan book acquired from the state-backed bank.

Havbell, a vehicle backed by Deutsche and Apollo, bought the loan book in 2015 when state-owned Permanent TSB was deleveraging its non-core assets.

The portfolio consists of PTSB’s former Leinster and Munster commercial real estate loan portfolios, with a face value of around €1.5 billion, which were sold to...

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