Mr. Lorcan O'Connor:

It is not my role to anticipate or identify what might be the underlying reasons for those statements. It is important to note that while, it is fair to say, every creditor would be reluctant to write off secured debt, in many cases others are saying, "I cannot get blood from a stone and there will be situations where some element of debt-write off is required". Equally, there are others who are of the opinion that it is unlikely they will need to write off secured debt because their forbearance measures - short of write off - are sufficiently generous to tackle the problem. There are a number of nuances at play there. I return to my opening response to the Deputy. I do not think it is welcome or best that people would completely rule out options that are already identified within the Act.