Issues surrounding distressed debt are growing in importance but, as Alan McGee points out, a number of schemes are already in place that can lead to equitable solutions
THE recent controversy over the impending sale of non performing loans by PTSB, AIB and Ulster Bank has once again raised public awareness of dealing with distressed debt.
The PTSB proposed sale has generated much debate. The common themes are that the anti-sale advocates believe it is wrong to sell family home loan mortgages to vulture funds who are unregulated entities who have already made significant profit on previous distressed loan purchases. While those who support the sales argue that it is a normal event in the cycle of a distressed loan and that the servicing ag…
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