Upcoming Events

National | Housing

no events match your query!

Blog Feeds

Anti-Empire

Anti-Empire

offsite link North Korea Increases Aid to Russia, Mos... Tue Nov 19, 2024 12:29 | Marko Marjanovi?

offsite link Trump Assembles a War Cabinet Sat Nov 16, 2024 10:29 | Marko Marjanovi?

offsite link Slavgrinder Ramps Up Into Overdrive Tue Nov 12, 2024 10:29 | Marko Marjanovi?

offsite link ?Existential? Culling to Continue on Com... Mon Nov 11, 2024 10:28 | Marko Marjanovi?

offsite link US to Deploy Military Contractors to Ukr... Sun Nov 10, 2024 02:37 | Field Empty

Anti-Empire >>

The Saker
A bird's eye view of the vineyard

offsite link Alternative Copy of thesaker.is site is available Thu May 25, 2023 14:38 | Ice-Saker-V6bKu3nz
Alternative site: https://thesaker.si/saker-a... Site was created using the downloads provided Regards Herb

offsite link The Saker blog is now frozen Tue Feb 28, 2023 23:55 | The Saker
Dear friends As I have previously announced, we are now “freezing” the blog.? We are also making archives of the blog available for free download in various formats (see below).?

offsite link What do you make of the Russia and China Partnership? Tue Feb 28, 2023 16:26 | The Saker
by Mr. Allen for the Saker blog Over the last few years, we hear leaders from both Russia and China pronouncing that they have formed a relationship where there are

offsite link Moveable Feast Cafe 2023/02/27 ? Open Thread Mon Feb 27, 2023 19:00 | cafe-uploader
2023/02/27 19:00:02Welcome to the ‘Moveable Feast Cafe’. The ‘Moveable Feast’ is an open thread where readers can post wide ranging observations, articles, rants, off topic and have animate discussions of

offsite link The stage is set for Hybrid World War III Mon Feb 27, 2023 15:50 | The Saker
Pepe Escobar for the Saker blog A powerful feeling rhythms your skin and drums up your soul as you?re immersed in a long walk under persistent snow flurries, pinpointed by

The Saker >>

Lockdown Skeptics

The Daily Sceptic

offsite link Why Do 1,000 Refugees Get Free Wimbledon Tickets While Long Suffering Locals Get None? Mon Jun 30, 2025 19:37 | Jo-Anne Nadler
As Wimbledon gets underway, its SW19 neighbours have to put up with a lot, from encroaching development to security checks to get home. Yet, unlike 1,000 refugees, they're shut out from the tennis, says Jo-Anne Nadler.
The post Why Do 1,000 Refugees Get Free Wimbledon Tickets While Long Suffering Locals Get None? appeared first on The Daily Sceptic.

offsite link Criminal Investigation Launched into Bob Vylan and Kneecap?s Glastonbury Performances as US Revokes ... Mon Jun 30, 2025 17:43 | Will Jones
Police have announced a criminal investigation into Bob Vylan and Kneecap's Glastonbury?performances as the Trump administration kills the punk duo's American tour by revoking their visa over antisemitic death chants.
The post Criminal Investigation Launched into Bob Vylan and Kneecap’s Glastonbury Performances as US Revokes Punk Group’s Visa Over Antisemitic Death Chants appeared first on The Daily Sceptic.

offsite link What is the Purpose of Sydney Sweeney?s Bathwater? Mon Jun 30, 2025 15:30 | Chris Bullick
Unilever ? the company that once declared "brands without purpose have no future" ? has bought the Sydney Sweeney bathwater soap brand. Woke is dead, says Chris Bullick.
The post What is the Purpose of Sydney Sweeney’s Bathwater? appeared first on The Daily Sceptic.

offsite link Chris Whitty Was Behind Covid Guidance That Triggered Care Homes Spread, FOI Emails Reveal Mon Jun 30, 2025 13:01 | Will Jones
Professor Sir Chris Whitty?was responsible for government guidance that was believed to have triggered the spread of Covid into?care homes, the Telegraph has revealed.
The post Chris Whitty Was Behind Covid Guidance That Triggered Care Homes Spread, FOI Emails Reveal appeared first on The Daily Sceptic.

offsite link An Inspector Calls ? and Then Tells You What to Think Mon Jun 30, 2025 11:00 | Jack Watson
Sixteen year-old Jack Watson confesses to lying about what he really thinks about socialism and climate change to get good grades in his GCSEs. If you criticise either, he says, you will be marked down.
The post An Inspector Calls ? and Then Tells You What to Think appeared first on The Daily Sceptic.

Lockdown Skeptics >>

Voltaire Network
Voltaire, international edition

offsite link Will intergovernmental institutions withstand the end of the "American Empire"?,... Sat Apr 05, 2025 07:15 | en

offsite link Voltaire, International Newsletter N?127 Sat Apr 05, 2025 06:38 | en

offsite link Disintegration of Western democracy begins in France Sat Apr 05, 2025 06:00 | en

offsite link Voltaire, International Newsletter N?126 Fri Mar 28, 2025 11:39 | en

offsite link The International Conference on Combating Anti-Semitism by Amichai Chikli and Na... Fri Mar 28, 2025 11:31 | en

Voltaire Network >>

New report highlights Irish government facilitation of vulture funds. Growing risk to Irish homeowners highlighted

category national | housing | press release author Tuesday May 03, 2016 23:00author by DDCI - Debt And Development Coalition Irelandauthor email hello at debtireland dot orgauthor address Unit F5 Spade Enterprise Centre, North King Street Dublin 7author phone +353 1 6174835 Report this post to the editors

Press Release - Tues May 3rd

DDCI calls on incoming Government to prioritise strict regulation of controversial funds

A new report released today (Tuesday May 3rd) by Debt Development Coalition Ireland highlights the manner in which vulture funds have aggressively bought up large volumes of debt in recent years, and how this form of financial speculation has had hugely negative social impacts both in Ireland and the Global South.

Entitled "From Puerto Rico to the Dublin Docklands: Vulture Funds and debt in Ireland and the Global South" the report shows how the Irish government has actively facilitated vulture funds through both the IBRC and NAMA.
Table of top ten vulture funds operatoring in Ireland
Table of top ten vulture funds operatoring in Ireland

DDCI calls on incoming Government to prioritise strict regulation of controversial funds

A new report released today (Tuesday May 3rd) by Debt Development Coalition Ireland highlights the manner in which vulture funds have aggressively bought up large volumes of debt in recent years, and how this form of financial speculation has had hugely negative social impacts both in Ireland and the Global South.

Entitled "From Puerto Rico to the Dublin Docklands: Vulture Funds and debt in Ireland and the Global South" the report shows how the Irish government has actively facilitated vulture funds through both the IBRC and NAMA. http://www.debtireland.org/download/pdf/ddci_vulture_funds_report.pdf

For example, Texas based Lone Star Capital bought 60% of all assets brought to market by IBRC, while 90% of assets sold by NAMA went to US firms, the majority to private equity firms.

DDCI Director, Maeve Bateman, said:

“Vulture funds have earned their nickname through the aggressive and unusual tactics they pursue. The government has welcomed vulture funds into the Irish property market, without properly considering the impact. We would call on the incoming government to prioritise this issue. Immediate steps need to be taken to find out just how many mortgages are owned by vulture funds unregulated by the Central bank, and to ensure that the tenants and homeowners living in these homes are better protected.

The relatively recent role of vulture funds in the Irish market highlights the ongoing impacts of our own debt crisis, and shows the case for an independent global sovereign debt resolution mechanism has never been clearer”.

The report’s author, Dr Michael Byrne of the UCD School of Social Policy, said:

“The funds’ history of aggressive asset management strategies poses significant risks for tenants and homeowners in Ireland whose homes are now simply assets on balance sheets for the funds, highlighted by the recent case of tenants in Tyrrelstown and business closures such as Clery's.”

The report recommendations include:

· The creation of an international sovereign debt resolution mechanism; · Legislation to bring about much improved transparency regarding the actions of vulture funds and to bring them under the regulation of the Central Bank · Greatly strengthened legal protections for mortgage holders.

ENDS

For further information contact Maeve Bateman, Director, Debt and Development Coalition Ireland, 01 6174835 / 087 2069017

Note to Editor: Vulture Funds are typically hedge funds or private equity firms who invest in bad debt. Bad or 'distressed' debt can be bought and sold on the secondary financial markets, and offers particular opportunities to achieve super-normal profits to investors who can buy it cheap and find a way to make the investment come good. Vulture funds operate in situations of crisis, pursuing aggressive and unusual strategies to take advantage of the misfortune of others. This form of financial speculation, and the lack of regulation in the financial system to manage it, has been shown to have hugely negative social impacts, both in Ireland and the Global South.

DDCI will have a public event on Wednesday with the report author Michael Byrne, David Hall and Tony Romano, a US housing activist. Event details are: http://www.debtireland.org/events/2016/05/04//



From Puerto Rico to the Dublin Docklands
Vulture funds and debt in Ireland and the Global South


This report was commissioned by DDCI and written by Dr. Michael Byrne.

Table of Contents

1. Introduction 2
2. Vulture funds: speculating on debt and crisis 3
3. Vulture funds and sovereign debt in the global south 4
4. The vultures come to Europe 6
4.1) The European financial crisis: an investment opportunity for vulture funds 6
4.2) Ireland’s great property give away 8
4.3) Understanding the risks posed by vulture funds in Ireland 9
4.4) The role of the Irish government in attracting vulture funds 10
5. Vulture funds, distressed debt and global financialization 12
6. Clipping the vulture’s wings: recommendations 14
6.1) Vulture funds in the global south: recommendations 14
6.2) Vulture funds in Ireland: recommendations 15
6.3) Financial crisis and distressed debt 16
Annex 1. Case Studies 17
Annex 2. Further Reading 20

PDF Document Report - From Puerto Rico to the Dublin Docklands: Vulture Funds and debt in Ireland and the Global South 1 Mb


© 2001-2025 Independent Media Centre Ireland. Unless otherwise stated by the author, all content is free for non-commercial reuse, reprint, and rebroadcast, on the net and elsewhere. Opinions are those of the contributors and are not necessarily endorsed by Independent Media Centre Ireland. Disclaimer | Privacy