Oireachtas Joint and Select Committees

Wednesday, 30 April 2014

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Mortgage Arrears Resolution Process (Resumed): Insolvency Service of Ireland

10:30 am

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

I thank the witnesses for their opening statements. I propose to take questions in rounds of 15 minutes and to wrap up thereafter.

To kick off proceedings, I was interested in Mr. O'Connor's opening remarks. He expressed his disappointment with comments made by some creditors who had appeared before the committee. The purpose of the committee's work since the targets were put in place has been to see how they are being met. We are seeking to see how the resolution processes are working and to establish what new resolution processes might come out of the ether. Hopefully, a greater level of flexibility and learning will evolve with solutions to reflect that. Can Mr. O'Connor elaborate on why he expressed his disappointment publicly this morning?

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