Oireachtas Joint and Select Committees

Thursday, 9 November 2017

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach

Finance Bill 2017: Committee Stage (Resumed)

10:00 am

Photo of Mattie McGrathMattie McGrath (Tipperary, Independent) | Oireachtas source

I apologise for my late return. I was almost finished when we broke.

I thank the Chairman for clarifying what happens on an hourly, daily, nightly and weekly basis. I have received telephone calls throughout the night about such matters. If the Minister does not know that this is true, I do not know where he is living and it is a case of hear no evil, speak no evil and see no evil. I can attest to the fact that this is happening and it is downright evil.

About receivers, I know of a well respected family in the Minister of State's county who are having an unmerciful time in trying to sell everything. Deputy Michael Fitzmaurice and I have tabled amendment No. 68 which, unfortunately, has been ruled out of order. It would afford individuals, like the people I have mentioned - I know the business - an opportunity to be offered the property at the price it was offered for sale to a third party. The family in question have not been given an opportunity to buy back their business to keep it going and retain 100 jobs in the area. They have not been afforded an opportunity to keep their pride, dignity and mental health. The amendment has been ruled out or order. It seeks to ensure that when a property is sold for 30% of its value or even less, an appropriate charge would be applied. In this case the financial institution involved was offered between 70% and 80% of the asking price for the property, but it refused to sell it back to the original owners. It is a controlled takeover, which is totally unacceptable. I commented on this matter earlier when the Minister of State was present. Receiverships are happening. For proof all one needs to do is go to the courts where receiverships are registered or to the High Court tomorrow morning where one will be able to witness the case I have mentioned, with hundreds of others, for whom there is no refuge in the courts - none.

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