Home repossessions to increase next year Limerick senator told

first_imgLimerick Ladies National Football League opener to be streamed live Email Advertisement Predictions on the future of learning discussed at Limerick Lifelong Learning Festival Limerick’s National Camogie League double header to be streamed live Facebook RELATED ARTICLESMORE FROM AUTHOR COURT proceedings by mortgage providers PTSB to repossess family homes will increase next year, Limerick Fine Gael Senator Kieran O’Donnell has been informed.At Tuesday’s hearing of the Oireachtas Finance Committee, Senator O’Donnell questioned PTSB asset management director Shane O’Sullivan on the number of repossession cases the company has before the courts and how likely that number is to increase.Sign up for the weekly Limerick Post newsletter Sign Up Mr O’Sullivan said that legal proceedings are only initiated when there is no engagement by a customer and, in most cases, €8,000 legal costs will be added to the borrower’s account.“Do you find that to be fair or reasonable?, Senator O’Donnell questioned.“It is the industry practice”, Mr O’Sullivan responded.He said that up to 50 per cent of distressed customers were not engaging with the bank and 40 per cent only engaged with them after they were brought to court.“We are looking to retain our customers and get the best solution for them but we do foresee the number of repossession cases increasing,” he told Senator O’Donnell.Mr O’Sullivan confirmed that the bank had thousands of demand letters out to customers as well as a similar amount of legal letters “currently live” with distressed customers.Earlier, PTSB chief executive John Masding said that they currently had 441 repossessed homes for sale on its asset books.PTSB is to provide figures on its legal costs after committee chairman John McGuinness said that he was “shocked by the arrogance of a bank who would try to beat the customers they wronged in the higher courts”. Linkedin Previous articleLimerick’s Georgian Society rings out Christmas FestivitiesNext articleSend abroad a hamper of favourite foodstuffs Staff Reporterhttp://www.limerickpost.ie center_img Print WhatsApp Limerick Artist ‘Willzee’ releases new Music Video – “A Dream of Peace” WATCH: “Everyone is fighting so hard to get on” – Pat Ryan on competitive camogie squads TAGSKieran O’DonnelllimerickPTSB Twitter NewsHome repossessions to increase next year Limerick senator toldBy Staff Reporter – November 29, 2016 671 Billy Lee names strong Limerick side to take on Wicklow in crucial Division 3 clashlast_img read more

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Stateline Speedway Postpones Season Due To Coronavirus Mandates

first_imgImage by Stateline Speedway / Facebook.BUSTI – Stateline Speedway announced Wednesday night they have postponed their 2020 season due to the state’s Coronavirus mandate. “It has been determined that no racing can take place during the month of April,” read a post on Facebook. “The start of the 2020 season at Stateline Speedway will have to wait until a later date.”In addition to postponing races, the track has also postponed April practices until further notice.“As New York continues its battle with the outbreak, we will comply with state mandates and remain closed until it is safe for us to go racing,” the post furthered. “Stay tuned to our website and Facebook page for future updates.” Share:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to email this to a friend (Opens in new window)last_img read more

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KBC Pensioenfonds splits managing director, CIO roles

first_imgVanbriel told IPE that the pension fund has about €2bn of assets across three schemes. No fundamental changes to its investment policy are planned for the time being. As CIO he will take on responsibility for the fund’s liabilities over the coming year. Termote was previously legal adviser and compliance officer at the pension fund, but took on more responsibility last year. He reports to Hans Verstraete, who heads the board of directors.Vanbriel joined the pension fund from KBC Asset Management, where he had a lengthy career. Most recently he was head of structured and money market funds from October 2013.Before that he was CEO, KBC Fund Management, and before that head of institutional business development. He was chief actuary at KBC Asset Management from 1995-2003. Brussels-based KBC Pensioenfonds has created a dedicated chief investment officer role with its managing director role now solely focussed on governance. Kurt Termote has been appointed managing director, with final responsibility for governance of the pension fund. Luc Vanbriel (pictured) has been appointed to the new role of chief investment officer, reporting to Termote.The reorganisation was implemented in connection with the retirement of managing director Edwin Meysmans earlier this month. He headed the Belgium pension fund for the KBC banking and insurance group for 20 years where his responsibilities included overseeing investments and governance of the pension fund.last_img read more

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