Tag Archives: Project Sand

KPMG confirms Project Stone winners and announces Lone Star and Oaktree win majority of Project Sand

KPMG’s Kieran Wallace and Eamonn Richardson, the special liquidators of IBRC, have just confirmed the completion of the sale of the majority of Project Stone and Project Sand, which takes the total sales across the five NPL portfolios to €19.8bn … Continue reading

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KPMG secures CCMA servicing pledge from €1.8bn Project Sand finalists

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KPMG, the special liquidators of IBRC, has sought to allay the anxieties of owners of legacy Irish Nationwide mortgages which have spun into the €1.8bn Project Sand loan portfolio that all final round bidders have agreed to adhere to best … Continue reading

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Bidders emerge on legacy IBRC portfolios amid €27bn frenzy of live European property loan sales

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Europe’s real estate loan portfolio market has entered its most frenetic period as finalists emerge on the legacy IBRC portfolios, projects Salt and Rock, as private equity, hedge fund and investment banks pore over as much as €27.7bn in live … Continue reading

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KPMG confirms all project Salt and Rock tranches progress to phase two bidding stage

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KPMG has announced this afternoon that all tranches of projects Salt and Rock, with a combined unpaid balance of €7.3bn, have progressed to the second round phase, implying sufficient bids have been received at above or near to prescribed hurdle … Continue reading

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KPMG begins sales process for IBRC’s €22bn projects Rock, Sand, Evergreen and Stone

IBRC’s joint special liquidators, Kieran Wallace and Eamonn Richardson of KPMG Dublin, have confirmed details of four UK and Irish property loans portfolios, worth collectively €22bn, and known as project Rock, Sand, Evergreen and Stone. Project Evergreen: Irish originated corporate … Continue reading

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IBRC liquidators confirm anticipated major loan portfolio sale process

KPMG’s Kieran Wallace and Eamonn Richardson, the joint special liquidators of IBRC, have confirmed that the majority of the failed bank’s legacy circa €18bn UK and Irish commercial property loans will be sold through large loan portfolio sales. Concurrent with … Continue reading

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KPMG reorders IBRC’s €18bn CRE loans into projects Rock, Sand and Salt

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KPMG Ireland has reorganised IBRC’s legacy circa €18bn UK and Irish commercial real estate portfolio into three separate portfolios, codenamed projects Rock, Sand and Salt, as PricewaterhouseCoopers continues the assembly of updated loan valuations ahead of this October’s open-market loan … Continue reading

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