Oireachtas Joint and Select Committees

Tuesday, 15 June 2021

Joint Oireachtas Committee on Jobs, Enterprise and Innovation

General Scheme of the Companies (Small Company Administrative Rescue Process) Bill 2021: Department of Enterprise, Trade and Employment

Photo of Louise O'ReillyLouise O'Reilly (Dublin Fingal, Sinn Fein) | Oireachtas source

I thank the Minister of State. I have one more question which relates to head 48, the provision with respect to leases. Most of the businesses I have spoken to in the last 18 months will say that what is driving them into debt is a lack of forbearance by commercial landlords, and “forbearance” is a word I hope we will consign to the dustbin of history post-Covid because, generally, it will be shown that the people talking about forbearance cannot demonstrate when that forbearance is shown. I know there are constitutional issues that the Minister of State has referenced in regard to property rights, and they are difficult to circumvent. There are situations where the debts are effectively strangling a company that might otherwise have a very sound business model and be a very sound business but, due to the commercial rents and the lack of forbearance on the part of commercial landlords, they are being driven into debt and driven towards this process. Has any consideration been given to how that might be supported within the legislation?

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