Wednesday, 14 May 2014

Questions (65)

Brian Stanley

Question:

65. Deputy Brian Stanley asked the Minister for Finance the commitment that has been given by Oaktree and Lone Star Fund VIII who have bought the loan book of 13,000 Irish Nationwide Building Society mortgages from KPMG; and the protection that exists for these mortgage holders. [21676/14]

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Written answers (Question to Finance)

I have been advised by the Special Liquidators that 64% of the residential mortgage portfolio was sold to two purchasers, Shoreline Residential Limited, an indirect affiliate of Lone Star Fund VIII, and Mars Capital Ireland Limited which is funded through funds managed by Oaktree Capital Management LP. The Special Liquidators confirm that they have received confirmation from each of the purchasers that they will comply with the Code of Conduct of Mortgage Arrears (CCMA).