MARLIN

[Angry Cat]

Marlin secures major debt portfolio

[enaid]

Re: MARLIN

Marlin secures major debt portfolio

Debt purchaser Marlin Financial Group has invested around £45m in a portfolio from a major UK bank in what is thought to be one of the biggest debt sales of 2011 so far, Credit Today can exclusively reveal.

The deal sees Marlin take on around 40,000 accounts from a high street bank which is returning to the debt sale market, though the name of the seller was not disclosed.

“We are delighted with the deal and in particular, the work that Ivan Lawrence, our executive director, has done in securing it for us,” said Martin Dunphy, Marlin’s chief executive.

“It is great to land such a large deal and a very competitive investment, and it means we will have invested about three times the amount this year that we had last year. In addition, our investors are very happy and we are adding senior people to our team.”

It is the fourth deal Marlin has secured this year and comes ahead of an expected rush of debt sales by other major UK banks before the end of 2011.

Dunphy added: “We are expecting the clearing banks to put some substantial portfolios up for sale before the end of this year, with several institutions re-entering the

[mr.ton]

Re: MARLIN

Waste of money by Marlin really..too many people now know their rights.