Courts / Waterford / Report
GAA star Davy Fitzgerald raises questions about sale of loan to 'vulture fund'
Summary
GAA star David Fitzgerald raised questions before the Deputy Master of the High Court regarding the alleged sale of his ACC Bank loan to a 'vulture fund'. The proceedings were brought by Pepper Finance and receiver James Anderson against Fitzgerald, the Waterford Senior Hurling Manager, seeking possession of a house in Co Clare. Fitzgerald opposes the application, arguing that Pepper may not own the loan and that he has received insufficient information about the purported transfer to entities named Newgrange Acquisition DAC and Otterham. His counsel, Ronnie Hudson, also challenged the proportionality of the receivers' fees, noting that a Deloitte chartered accountant was appointed for a single property. Fitzgerald claims he wishes to redeem the mortgage of over €200,000 but is blocked by a disputed €25,000 interest surcharge. The Deputy Master, Mr John Glennon, stated that these issues are for a High Court judge to determine. He indicated an intention to list the case before a judge but granted an adjournment to allow Fitzgerald to swear an affidavit in reply to the applicant's claim. The matter was adjourned and will return before the Deputy Master later this month. Fitzgerald also linked these proceedings to separate claims against former ACC Bank official Jarlath Mitchell and ACC Bank, alleging fraud involving false mortgage documentation in Portugal.
Who, what, where, when and why
What: Report matter: GAA star Davy Fitzgerald raises questions about sale of loan to 'vulture fund'. Procedural stage: sentence
When:
- 2022-11-15 Publication
Why: Mr Fitzgerald claims that he wants to redeem the mortgage of over €200,000 but says he cannot do so because Pepper is demanding an interest surcharge of €25,000, which he claims it is not entitled to. CNI source report
Case subjects
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Places mentioned
- High Court
Topics
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