Mr. Shane O'Sullivan:

There have been many ideas recently. By and large, they are good. The insolvency regime is about working to make insolvent people solvent and to keep roofs over their heads. From our bank's perspective, there should be more discussion of reducing some of the terms within the insolvency arrangement, such as the debt relief notice, DRN, and the debt settlement arrangement, DSA, so that the debts owed in those scenarios can be disposed of more quickly and people can concentrate on the personal insolvency arrangement, PIA, which focuses on keeping roofs over people's heads. We hope to see a reduction in the terms of those non-judicial settlements, as it would be helpful.

Bankruptcy is different. It is about liquidating a property. In 70% of bankruptcy cases, the properties are disposed of. As such, we are cautious about the focus on bankruptcy and believe that more could be done on the insolvency side.