Vulture funds ‘a threat’ to farms

There have been calls for government intervention over fears that a growing number of farms could come under threat of repossession due to the loans linked to them being bought by so-called vulture funds.

Reports yesterday referred to the purchase of a €2.5bn Ulster Bank loan portfolio by US-based fund Cerberus Capital Management last October with suggestions that up to 200 farmers could be affected.

There is also the possibility that other similar loan portfolios could also be s old on, and Independent TD Mattie McGrath said any possibility of a ramping up of farm repossessions was “very distressing” and “must be combatted with every available legislative or regulatory tool at our disposal”.