Wednesday November 25, 2020

Vultures circle: distressed borrowers in for shock

Irish debtors are going to learn what it means to owe money to a vulture fund

13th March, 2016

Before anything else, there’s the letter.

“Dear Sir/Madam”, it begins. “Important information on the servicing of your facilities.” Maybe you heard about it in the media – maybe it slipped through unreported. Maybe your bank was in constant touch with you, letting you know that this might happen. Maybe not. But with the arrival of the letter, there’s no room for doubt. Your loan has been bought by a vulture fund....

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