Transfer of Loans to Rabobank
On 17 December 2018 (‘the Transfer Date’), ACCLM transferred the ownership of its loan portfolio (the ‘Acquired Loans’) to Coöperatieve Rabobank U.A. trading as Rabobank.
Rabobank is licensed by the Dutch Central Bank and regulated in Ireland by the Central Bank of Ireland in respect of conduct of business rules. The part of the Rabobank business that is managed in Ireland by Link Asset Services is focused on managing existing customer loan facilities that it acquired from ACC Loan Management DAC.
On 12 April 2019 Rabobank agreed the sale of the secured loan portfolio formerly owned by ACC Loan Management (ACC) to a consortium of Goldman Sachs and CarVal Investors. It also agreed the sale of the unsecured loan portfolio to Cabot (‘the Sale’). The Sale will take place no sooner than two months after Rabobank notifies borrowers and will include the entire portfolio of acquired loans.
Pending completion of the Sale, the Acquired Loans continue to be serviced by Link ASI Limited (Link Asset Services) in Ireland, on behalf of Rabobank. Link Asset Services’ contact details are unchanged and they can be contacted by email at Raboenquiries@linkgroup.ie or by phone on LoCall 1850 708888 (or +353 1 9612700 if calling from outside of Ireland) if you have any questions.
Pending completion of the Sale, all obligations in respect of the Acquired Loan(s) and the Loan Documents are owed to Rabobank rather than to ACCLM. All rights, terms and conditions are not affected by the Sale and all existing applicable regulatory codes of practice continue unchanged. Similarly borrowers’ obligations under the terms of their Loan agreement(s) are unchanged and they should continue to meet their payment obligations.