Sunday November 29, 2020

Melly says state has to tackle ‘greedy vultures’

CarVal pursuing senate candidate for €2.1m

13th March, 2016
Sean Melly, chairman of TCD’s Business School Picture: Bryan Meade

Businessman Sean Melly has hit out at so-called vulture funds that have bought up millions of euro worth of business debt and are pursuing scores of business people and professionals through the courts.

Melly, who is running for the Seanad, criticised the state for allowing the sale of debts to vulture funds and the lack of transparency that exists around the practice. This operating outside of the normal banking system is a “national issue” and...

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