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

The Deputy proposes to delete the current reference to the maximum extension of a personal insolvency arrangement by a period of not more than 12 months and allow the arrangement to be a maximum of seven years. I feel this is a sufficient time to work the terms of the arrangement and objectively determine, being fair to all interests concerned, whether a sustainable outcome can be achieved. If at the end of the seven year period an unsustainable situation still exists, then the parties concerned must accept this reality. Therefore, I see no merit in the Deputy's proposal to potentially extend ad infinitum the period of the arrangement.

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