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Provisional liquidator appointed to Drumcondra and District Credit Union

Comments

  • #2
    Allinall
    Registered Users, Registered Users 2 Posts: 6,784 ✭✭✭Allinall


    Credit Unions are not renown for their pursuit of bad debts.

    Hopefully the liquidators will be a bit more aggressive, to minimize the burden on the taxpayer.


  • #3
    coylemj
    Registered Users, Registered Users 2 Posts: 25,479 ✭✭✭✭coylemj


    Allinall wrote: »
    Credit Unions are not renown for their pursuit of bad debts.

    Hopefully the liquidators will be a bit more aggressive, to minimize the burden on the taxpayer.

    I revised my original text. The Irish Times article indicates that the main problem was in meeting capital requirements, they make no mention of a toxic loan book.

    Though the fact that they couldn't find someone to merge with does point in that direction. Especially when the Central Bank typically throws in a sweetener when they act as matchmaker.


  • #4
    Allinall
    Registered Users, Registered Users 2 Posts: 6,784 ✭✭✭Allinall


    coylemj wrote: »
    I revised my original text. The Irish Times article indicates that the main problem was in meeting capital requirements, they make no mention of a toxic loan book.

    Though the fact that they couldn't find someone to merge with does point in that direction. Especially when the Central Bank typically throws in a sweetener when they act as matchmaker.

    Ah cool.

    Serves me right for not reading the link!


  • #5
    coylemj
    Registered Users, Registered Users 2 Posts: 25,479 ✭✭✭✭coylemj


    Allinall wrote: »
    Serves me right for not reading the link!

    If you look at the timestamps, I added the Irish Times link after you posted so you're in the clear - my fault entirely! The RTE article is light on detail.


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