Professor Patrick Honohan:

Not per se, but I believe he would be unable to satisfy the code of conduct - in other words, to give the best solution available to the borrower - and to get through all the cases satisfactorily without using the tool of the personal insolvency arrangement. The PIA can be a very effective tool for knocking the heads of lenders together to get a solution, if that is not too flippant for Deputy McDonald.