Stephen Donnelly (Wicklow, Independent) | Oireachtas source

I seek clarification. While I am inclined to agree with Deputy Mac Lochlainn on this, I will stick to the Minister's example. The majority creditor with a veto is usually the bank. Is it correct that those who are mostly minority debtors would not be able to veto any arrangement, in which case the PIA, irrespective of whether it agreed, would effect a discharge? In this regard, one should consider the contrasting circumstances. It seems very arbitrary that a management company would still be owed money while a credit union, local business person or landlord would not.

I am not accusing the Minister of hypocrisy but believe that it is slightly hypocritical for all of us to say we, by way of this Government Bill, will discharge debts to the bank, landlord and credit union but not to the Government. Perhaps I misunderstand the Minister's position. Could he clarify it?

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