Mr. Lorcan O'Connor:

Inevitably, there will be issues that arise at the cut-off point in any kind of a system. In the case described by the Deputy, the debtor’s circumstances could change in a year’s time. It could go either way. They may lose their job or get a cut in pay. In such a case it would be clear they are insolvent. Equally, they may encounter a pay increase or another positive development in their financial situation. It needs to be kept under review. It would be down to the practitioner to assess the situation and see what options are open to the debtor.