Many of the farmers, homeowners and small businesses who borrowed from the defunct ACC Bank are seeing the identity of their lender change for the fourth time in nine years. This results from two of the most active US vulture funds in Ireland changing their carve-up of a mortgage portfolio acquisition in 2019, new company information shows. Four years ago, Dutch lender Rabobank sold Project Omni, which included all the remaining loans of the old ACC Bank “valued at approximately €800 million”. Cabot Financial acquired the unsecured portion of the debt; CarVal Investors paid €159 million for secured agricultural loans…

Want to continue reading?

Introductory offer: Sign up today and pay €200 for an annual membership, a saving of €50.

Subscribe

Cancel at any time.

Are you already a member? .