On February 28, 2019, shortly after its sixth birthday, Vanguard Property Finance DAC was placed into voluntary liquidation with €122,667 in equal assets and liabilities on its balance sheet, having previously juggled dozens of multi-million loans. As its name suggests, Vanguard Property Finance had been a pioneer, introducing US vulture fund CarVal Investors to Ireland in 2013, as the banks and Nama were lining up billions of euros in fire sales of non-performing loans.  In its winding up, too, Vanguard Property Finance prefigured the destiny of many other CarVal special purpose vehicles (SPVs) in this country. Those established between 2013…

Join The Currency

INTRODUCTORY OFFER: Full annual membership for just €200.

Don’t miss out on what is going on with our daily unique stories from our team of skilled journalists and insightful commentators.

Members of The Currency get full access to over 4,000 exclusive interviews, investigations, and analysis, plus over 460 podcasts.

Annual membership is just €200 for the first year, a saving of €100.

Or try The Currency for the first month for a special introductory rate of €5, a saving of €20.

Cancel at any time.

To become a member today click here.