Debt recovery litigation has ground to a halt in Ireland bar one vulture fund, which has become a significant litigator and outlier over the past 12 months. Of the 361 summary summons actions, legal proceedings that target the recovery of debts worth more than €75,000, initiated in the High Court by banks and vulture funds last year, Cabot Financial was the plaintiff in 312 cases.  The vulture fund, which describes itself as “Ireland’s leading ethical acquirer and manager of consumer debt”, principally services debt for others but has also owned Irish loans since it first purchased a portfolio from Ulster…

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