The controversy surrounding the sale of Nama loans secured on properties in Northern Ireland has focused on the discount given to their buyer. A forensic investigation reveals how much Cerberus made from the deal.
Acting through a Luxembourg entity, Apollo has appointed KPMG as receiver over six shopping centres, a move designed to facilitate the sale of the portfolio to a Canadian buyer.
The two American financial giants paid €322m for the discounted mortgage book offloaded by Rabobank almost three years ago. They are still bouncing some borrowers around in search of higher profit.
After splitting a lucrative portfolio of Irish distressed debt with Morgan Stanley, Cerberus is on track to double its money on the 2018 Scariff deal.
Cabot Financial Ireland and its Dublin subsidiaries have grown their assets and revenue from non-performing loans acquired from Portugal to Poland – as well as the taxable Irish profit arising from this business.
2020 was a mixed bag for the US vulture fund, with collections and valuations slowing down at some of the SPVs used to buy distressed loans here. Initial figures for 2021 show a clear bounce.
Irish banks and vulture funds' instincts for debt enforcement litigation are seemingly dormant, except for one fund which may be running out of time.
After changing hands twice, the debt of farmers who had borrowed from ACC ended up in a dual structure set up by CarVal under new rules governing Section 110 companies. How successful has it been in reducing the vulture fund’s Revenue bills?
The financial crisis and its fall-out exposed the egregious securitisation of high-risk home loans and the exploitation of Irish tax loopholes by global vulture funds. A recent deal unveiled by The Currency last week brings back the memories.
CarVal agreed to buy €800m worth of home loans from Ulster Bank two years ago. In the process, the US vulture fund has now revealed the discount obtained, its tax strategy – and the risk it sees Sinn Féin posing to its investors.
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