Irish banks and vulture funds' instincts for debt enforcement litigation are seemingly dormant, except for one fund which may be running out of time.
The subsidiary of the US-based Encore Capital Group is just one of many investors increasingly using Ireland as a base to snap up distressed debt on the continent. But it has hit a speedbump in the rolling out of this plan.
A new flurry of legal proceedings shows Cabot Financial is not finished pursuing borrowers in portfolios it has acquired from, or services on behalf of Irish banks. But who are the vultures operating off Dublin’s Belgard road?
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