Cerberus calls in Wallace loans

Fund now set to apppoint receiver over TD's firms

4th October, 2015
Independent TD Mick Wallace

Cerberus, the US vulture fund at the centre of the controversial purchase of Nama’s Northern Irish loan book, has moved to enforce its security over the loans of independent TD Mick Wallace.

The fund bought some of Wallace’s loans as part of Project Aran, Ulster Bank’s €5.6 billion distressed asset loanbook which was sold last year.

The vulture fund is set to appoint a receiver over companies with loans...

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