Oireachtas Joint and Select Committees

Wednesday, 17 July 2013

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Insolvency Service of Ireland: Discussion

3:00 pm

Mr. Lorcan O'Connor:

I would point to the experience in other jurisdictions where those situations arise, but the consequences described by the Deputy are not encountered, simply because there will be always be a sufficient number of practitioners to deal with such cases. The large operators will be able to deal with the high-volume, low-margin work and still make it efficient. Creditors, equally, need to support this process. What is the alternative for the creditor? It is a lot of costs and nothing by way of dividend. The support for fees should be there.