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Report: Danske Bank to sell Irish toxic loans

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Report: Danske Bank to sell Irish toxic loans

is selling theremaining portfolios of its Irish operations, which comprise unsecured debts ofthousands of borrowers, raising fears that they could be snapped up bysub-prime "vulture funds," Ireland's Sunday Business Post reported April 3.

Thetoxic loans, which include credit card bills, legal judgments, overdrafts andpersonal guarantees, are likely to be sold at a tiny percentage of their facevalue, the report noted. Debt collection agencies, paydaylenders and vulture funds are potential buyers.