Alan Shatter (Dublin South, Fine Gael) | Oireachtas source

I oppose the amendments. Deputy Collins seeks to reduce the period prior to the debtor seeking to agree a debt settlement arrangement during which a transaction at under value or at a preference which seeks to deny creditors' their legitimate rights may be challenged by a creditor. The reduction he is seeking is from three years to two. The three year period provides a useful deterrent to any temptation on the part of a debtor to rearrange his or her affairs strategically in such a way as to deprive creditors of their rights and entitlements. I am similarly providing for a three year period in regard to bankruptcy. Deputy Collins has said nothing to convince me the reduction is warranted. I believe the three year period is reasonable. We should not seek to facilitate individuals deliberately dealing with their affairs in a manner which could effectively deprive creditors of the funding to which they are entitled.

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