Relevant Matter
Public policy or programme
Public Policy Area
Banking and Financial Institutions
Period
1 Jan, 2017 to 30 Apr, 2017
Specific Details
Vulture Funds
Intended results
To highlight the damaging impact on and threat to family farms resulting from the purchase of distressed farm loans by 'vulture funds' in recent years
To highlight IFA's concern that these funds are seeking short-term debt recovery on long-term debts through the sale of assets, irrespective of the repayment capacity of the farm
That steps are taken by the Government to provide greater balance in the negotiating strengths of the parties, whereby productive assets have been given as security, as in farms. This leaves absolutely no scope for the borrower to propose a long-term solution.
That the funds that have purchased loans are regulated, giving the Financial Regulator proper oversight on loan owners, the number of loans and the profile of borrowers.
That borrowers should be allow to engage directly with the loan owners, and not through third party agencies only.
That, through regulation, these funds would be accountable to the Houses of the Oireachtas
That there is a stronger, and public, Government commitment to rebalancing the power between borrowers and loan owners.
Name of person primarily responsible for lobbying on this activity
Joe Healy IFA President
Did any Designated Public Official(DPO) or former Designated Public Official(DPO) carry out lobbying activities on your behalf in relation to this return? You must include yourself, and answer Yes, if you are a current DPO or a DPO at any time in the past. (What is a Designated Public Official?)
No
Did you manage or direct a grassroots campaign?
No
Was this lobbying done on behalf of a client?
No
Lobbying activity
The following activities occurred for this specific Subject Matter Area.
Designated public officials lobbied
The following DPOs were lobbied during this return period on this specific Subject Matter Area. These DPOs were involved in at least one of the Lobbying Activities listed above, but not necessarily all of them.
As returns are specific to a Subject Matter Area the above Lobbying Activities may be associated with multiple returns.
Michael Noonan
Minister (Department of Finance)
Charlie McConalogue
TD (Dáil Éireann, the Oireachtas)
James Browne
TD (Dáil Éireann, the Oireachtas)
Michael W. D'Arcy
TD (Dáil Éireann, the Oireachtas)
Martin Kenny
TD (Dáil Éireann, the Oireachtas)
Pearse Doherty
TD (Dáil Éireann, the Oireachtas)
Paul Daly
Senator (Seanad)
Pat Deering
TD (Dáil Éireann, the Oireachtas)
Michael McGrath
TD (Dáil Éireann, the Oireachtas)