Damien English (Meath West, Fine Gael) | Oireachtas source

The creditors go to court together. Under this model, at a later stage when the plan had been produced, if they were unhappy, they would have go to court. That is not the way to go about it, although I accept what the Deputy is trying to do.

We must find a procedure that has the correct balance between the cost of examinership and the protection offered to companies. We want to see progress made, but we must protect as many businesses as possible. We all know of many companies that would be viable if they did not have debts and if they were not being dragged down by property debt. We must find new solutions. I, therefore, urge the Minister to move forward with his suggestions as quickly as possible. We want change, although not as far as Deputy Stephen Donnelly proposes.

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