mchugh2008
Registered User
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I have a mortgage on a property in Ireland and have other borrowings which are all in arrears now. I spoke to the bank prior to my situation worsing and asked them for a period of interest only on all borrowings. They refused without any explanation. Most of my borrowings are for property abroad. The borrowings abroad have been used to purchase property through Special Purpose Vehicles (stand alone companies) of which I am a shareholder. What can the Irish banks do in my situation. Can they repossess the Irish property, can they lock on to my shareholding in the SPV's. I need to understand the precedence and the powers of Irish banks on foreign assets and shareholdings. I'm sure this is the same for many Irish who have foreign property. Any advise would be greatful
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