There is no agreement on the precise meaning of the term “vulture funds” and it has come to have pejorative connotations. I presume that the Deputy is referring to private equity funds. The Deputy will be aware that international private equity funds invested much needed capital in our economy during a period of high risk and uncertainty.
In this regard, the only sale of agreements during the period requested, relating to Ulster Bank Ireland DAC or a company associated with Ulster Bank Ireland DAC, was by Lombard Ireland Limited in 2012. 9,870 agreements with a gross value of approximately €216 million were sold to a third party.
The requirements of the Consumer Credit Act 1995 still applied to the agreements that were sold and approximately half of the agreements related to Hire Purchase Agreements. In 2016, Lombard Ireland Limited transferred all their remaining agreements to Ulster Bank Ireland DAC.