Mr. Lorcan O'Connor:

The clarity a debtor has, regardless of whether he or she is going into a DSA, PIA or bankruptcy, is that at the end of the process he or she will be solvent again. That is probably the biggest win or the most impressive point for a debtor. The bottom line in a bankruptcy is that, with certain exceptions, one loses all one's assets. Whether they are sold on day one, year one, or year ten is almost an administrative point. The bottom line is that assets are lost but one will have a clean slate to start again. In terms of a DSA or a PIA, one signs up to the proposal that one is putting to creditors, so one can dictate what it is that one wishes to happen with regard to certain assets. Obviously, one must have buy-in from the other side of the table but there is clarity within those proposals.