Friday December 6, 2019

Vulture fund tried to buy 40k distressed mortgages

Government rejected plan for ‘systemic solution to resolve residential mortgage non-performing loans’ crisis in Ireland

4th October, 2015
Michael Noonan

The vulture fund BlackRock was among those who considered joining a venture to buy the loans of Ireland’s 40,000 most distressed mortgage holders from state-owned banks, documents from the Department of Finance show.

The US distressed investor Aspen Capital Solutions planned to enlist BlackRock, as well as McKinsey’s distressed investment arm, to work with it on the proposal. It pitched the deal to finance minister Michael Noonan’s department over several months, Freedom of Information...

Subscribe from just €1 for the first month!

Exclusive offers:

All Digital Access + eReader

Trial

€1

Unlimited Access for 1 Month

Then €19.99 a month after the offer period.

Get basic
*New subscribers only
You can cancel any time.

Annual

€200

€149 For the 1st Year

Unlimited Access for 1 Year

You can cancel any time.

Quarterly

€55

€42

90 Day Pass

You can cancel any time.

Team Pass

Get a Business Account for you and your team

Related Stories

Lab academic says Ireland is missing out in terms of education, knowledge-sharing and ‘the mysteries of the universe’

Emmet Ryan | 5 days ago

The Kardashians, the family for whom the phrase ‘famous for being famous’ was made, were the forerunners of today’s influencer culture and, by monetising their very selves, have created a new kind of uber-celebrity

Marion McKeone | 5 days ago

Becoming a father at 16 gave Andy Farrell a crash course in the ways of the world. Almost three decades later, the former rugby league legend has taken over from Joe Schmidt as head coach of Ireland

Garry Doyle | 1 week ago