Politics

Pearse Doherty TD slams ‘vulture’ funds in Cashel

Halla na Féile meeting: vulture funds are causing ‘untold damage’

Eoin Kelleher

Reporter:

Eoin Kelleher

Email:

eoin.kelleher@tipperarylive.ie

Pearse Doherty TD slams ‘vulture’ funds in Cashel

L/R: Damien O 'Donoghue, Michael Donovan, Cllr David Dunne, Teresa Collins, Cllr Martin Browne, Tony Black, Missing Cllr Catherine Carey, Joanne IIvers

Sinn Féin candidate Ciara McCormack thanked Pearse Doherty TD for his attendance in Cashel at a public meeting on evictions and vulture funds.

The meeting, held last Thursday in Halla na Féile, made for a lively and informative event.

Speaking on the issue, McCormack said: “vulture fund activity is something that has come to increasing prominence in recent years.

“While the likes of Brexit have overshadowed much of the recent news, it’s important that scrutiny of these firms gets the attention it needs.

“The most startling statistic that emerged from the meeting was that, between 2013 and 2016, Fine Gael and the Department of Finance met with vulture funds at least 125 times to discuss ongoing legislation.

“During this time, important legislation was passed that allowed the formation of large real estate investment trusts, REITs.

“Vulture funds are causing untold damage.

“They are fuelling home repossessions, driving up rent prices and buying up farmland in every county at an alarming rate.

“It’s important that a cross-party consensus be built in order to implement the legislation needed to reign these firms in.

“Furthermore, I would also like to take the opportunity to thank Neil Armstrong of Lay Litigation Ireland and Cllr Martin Browne for chairing the event.”