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

This group of amendments deals with the treatment of preferential debts in the debt settlement arrangement and personal insolvency arrangement processes.

Amendments Nos. 78 and 130 are technical amendments to sections 61 and 96, to insert cross-references to the sections dealing with a preferential debt and debt settlement arrangement or a personal insolvency arrangement.

Amendment No. 80 replaces the existing text of section 62(1) with revised text which makes clear that unless the creditor concerned otherwise agrees in writing and provision to that effect is made in the terms of the debt settlement arrangement, a preferential debt is to be paid in priority by the debtor. Amendment No. 81 proposes the insertion of an interpretation provision in relation to “preferential debt”. Amendments No. 132 and 133 make corresponding amendments to section 97, which relates to preferential debt for the purposes of the Personal Insolvency Arrangement Chapter. Amendment No. 89 replaces subsections (3), (4) and (5) of section 68 with one new subsection (2). The provisions in subsections (3) and (4) have been addressed by Amendments Nos. 76 and 182. The provisions of the previous subsection (5) relating to preferential debt in relation to a proposal for a Debt Settlement Arrangement have been further refined in the new subsection (2).

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