BAD BANK DEBT

Hi,

We were due to sign with IRM to rent a business venture but it was stopped just before christmas due to the bad bank debt !

Does anybody have any information on this and when its likely to be sorted out as we still want to sign for the business but cant until the problem is resolved

Thanks

Leigh

I assume you are referring to an asset that was held by a bank but is no longer available as this has now been passed on to the "bad bank"?

As far as I am aware no one seems to have a clue as to what is going to happen to these assets in the short term.  It also means that a lot of toxic property assets have now come off the market too and so are no longer available.

My guess is that all these assets will appear on the market in the future at knock down prices as the value of them will have effectively been written off any way.  Who knows when that may be though.

i would say the post was meaning

more because of the actual spanish bad bank debt.

which will only be sorted over the next few decades