Varadkar is urged to act on ‘confused landscape’ of personal insolvency

Varadkar is urged to act on ‘confused landscape’ of personal insolvency

Personal insolvency practitioner Mitchell O’Brien argues that the 10,700 non-performing Permanent TSB loans sold to vulture fund Lone Star last week could have been resolved in less than two years using the existing insolvency infrastructure

Taoiseach Leo Varadkar has been urged to clear up the “confused landscape” for distressed borrowers following the revelation that Permanent TSB has sold €1.3 billion of its mortgage book to a vulture fund.

In an open letter to the Taoiseach, personal insolvency practitioner Mitchell O’Brien argues that the 10,700 non-performing Permanent TSB loans sold at a steep discount to vulture fund Lone Star last week could have been resolved in less than two years using the...

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