Friday 27 May 2016

Borrowers protest at KPMG's office over vulture fund fears

Published 02/05/2014 | 02:30

MORTGAGE holders whose loans are to be sold as part of the liquidation of the Irish Bank Resolution Corporation staged a sit-in at the offices yesterday of the liquidator in a bid to stop the sale process.

The homeowners, whose loans ended up with IBRC, fear their mortgages will be taken over by vulture funds.

Some 10 mortgage holders staged a sit-in at KPMG's Dublin offices, wantng to speak to liquidators Kieran Wallace and Eamon Richardson.

Protester Pat McCormack said: "The governor of the Central Bank told an Oireachtas Committee he was worried about the sale of the IBRC mortgages to an unregulated body. If he is worried, we should be worried," he said.

Governor Patrick Honohan had told TDs and senators earlier this week that he was "not happy" about the sale of mortgage books to non-regulated vulture funds.

A spokesman for KPMG had no comment.

Irish Independent

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