Banks would be under less pressure to sell large portfolios of bad mortgages had they dealt with distressed borrowers earlier, the head of the States personal insolvency service has said.
Lorcan OConnor, director of the Insolvency Service of Ireland, said banks should have tried to resolve more of their non-performing loans through personal insolvency legislation after it was introduced in 2012.
He was speaking after Permanent TSB, which is 75 per cent Stat…
Read the full article at: https://www.irishtimes.com/news/politics/banks-should-have-agreed-debt-deals-says-insolvency-director-1.3399555
