The subsidiaries located in Ireland by the US-based investment firm Cerberus Capital Management have continued to acquire both Irish and European distressed debt to this day, as reported earlier in this series. A decade on, however, most of those involved in the first wave of deleveraging that immediately followed the financial crisis have come to the end of their lives. Financial information they have disclosed in recent months completes the picture of the performance achieved from deals conducted during the 2013-2017 period, when regulators aggressively forced European banks to reduce the burden of non-performing loans (NPLs) on their balance sheets.…

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