Vultures lobbied Noonan on Section 110 tax loophole

Heavyweight firms contacted the Minister for Finance just days after his department moved to amend Section 110

Minister for Finance Michael Noonan

Minister for Finance Michael Noonan and his senior officials had contacts with several heavyweight vulture funds and investors following his move to close a tax loophole affecting property deals.

Freedom of Information documents show that following his publishing of draft legislation to amend Section 110 of the Taxes Consolidation Act, vultures Canyon Capital and Carval, alternative financier Bluebay Asset Management and Glencar Healthcare, a major health fund engaged with Noonan’s department on the ...