Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

On the role of receivers, does Mr. Beades think receivers are properly regulated in Ireland? This is an issue I have pursued by parliamentary questions. Receivers can be appointed under company law or land and conveyancing law. It appears that the framework around the appointment and conduct of receivers is weak. Instances have been brought to my attention where assets were mismanaged, receiverships were kept going seemingly in perpetuity and presumably with direct benefit by way of fees, ultimate decisions made were not commercially sound and the borrower was completely in the dark and locked out of the entire process. What is Mr. Beades's view on the role of receivers and what can be done to make them more transparent and accountable? What rights should the borrowers whose assets have been put into receivership have as part of that process?