Dara Murphy (Cork North Central, Fine Gael) | Oireachtas source

I wish Mr. O'Connor well with his extremely important job. As a politicians, we all know of people who are waiting to see how this plays out. There are a couple of areas about which I would like to ask Mr. O'Connor. I refer to the issue of publications, judgments and so on. How does Mr. O'Connor see that happening? When the process kicks in, at what point will people be able to opt into any of the three options, or can they look at them and walk away?

The voting arrangements are quite complex. Many people will have arrangements with some of the people to whom they owe money and no arrangements with others. When we talk about secured debt, there may be a tendency for banks or larger institutions which are already receiving money to vote against an arrangement, to the disadvantage of other creditors who may be receiving nothing at all. If creditors vote against the arrangement, is the process without prejudice or can it be used subsequently in court cases? In other words, can a person say he or she came to the process in good faith and tried to settle with his or her creditors but they refused and the only reason he or she is there is because of the creditors' unwillingness to engage? In regard to secured debt and the family home, how, in terms of insolvency and settlement, does Mr. O'Connor see a benefit for someone whose ultimate ambition is to get the burden of debt off his or her shoulders over a number of years and stay in his or her family home?