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

Section 98 sets out a number of detailed requirements, primarily in regard to the valuation and treatment of a security held by a secured creditor in a personal insolvency arrangement. It is not clear in regard to the provisions of this section what the Deputy's proposal seeks to achieve. For example, what would his reaction be if, in the context of his proposal, the secured creditor proposed full and immediate payment of the loan or repossession of any property concerned? The provision of the new personal insolvency arrangement is a significant solution to addressing the problems of debt, in particular where a whole mortgage might be concerned. I do not envisage this amendment achieving an objective that merits its being taken on board in the circumstances. It is unacceptable and I oppose it.

See this speech in context