Oireachtas Joint and Select Committees

Tuesday, 8 April 2014

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Mortgage Arrears Resolution Process: (Resumed) Ulster Bank

3:00 pm

Photo of Pearse DohertyPearse Doherty (Donegal South West, Sinn Fein)
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I spent four minutes trying to elicit that answer. Basically, Ulster Bank will veto the personal insolvency arrangements because in cases where the Insolvency Service of Ireland has proposed a write-down of secured debt, the average amount is 19%.