AIB offloads Belfry fund investor loans to Cerberus

More than 100 Irish people who borrowed from AIB to invest in the bank’s failed Belfry property funds during the Celtic Tiger years have had their loans sold to vulture fund Cerberus.

Meanwhile, a larger group of around 300 investors - known as the Belfry Investors Action Group (BIAG) – is understood to be topping up its litigation fund with fresh subscriptions from its members to pay for a Supreme Court appeal.

Earlier ...