Taking a leaf out of Nama’s book

Mark Duffy’s new venture, ARC, which plans to buy property loans from banks that are not part of Nama, could have serious implications for the Irish property market, writes Richard Curran

24th October, 2009

Last week’s announcement of a private sector, Nama-type company targeting the purchase of property loans from foreign banks will force a rethink about how the new state agency might operate.

While everyone was focusing on whether there was a private sector appetite to recapitalise Irish banks, nobody thought there was a private appetite to buy distressed property loans in Ireland from banks.

Asset Resolution Corporation (ARC) is being set up by Mark Duffy,...

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