Oireachtas Joint and Select Committees

Wednesday, 17 July 2013

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Insolvency Service of Ireland: Discussion

2:10 pm

Photo of Ciarán LynchCiarán Lynch (Cork South Central, Labour) | Oireachtas source

The reason I ask is that a concern committee members, the general public and I have is that a host of poachers may now become gamekeepers. A number of people involved in financial services at the height of the property bubble made mortgages more than accessible. Particular mortgage broker firms were giving 100% mortgages and, in some cases, gave mortgages to people who should not have received them. Might we now see the people in question as insolvency practitioners? This would give them two bites at the cherry, as they will now be paid to run an insolvency service for people who have ended up insolvent. Is it possible such persons are among the applicants?

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