Michael Noonan (Limerick City, Fine Gael) | Oireachtas source

It is not working as well as we had hoped but it is working. The number of cases being processed is accelerating. There are blockages within the system. A review is incorporated in the insolvency legislation but that is about two years’ down the line. Provision has been made for it in the Act but we need a more immediate review to see whether we can remove blockages. That work is proceeding, and I have come across recommendations from the director of the Insolvency Service of Ireland. There will be changes in processes, protocol and regulation but they will not require legislation. That should remove some of the perceived blockages from the system. If legislation is necessary it would come about as a result of the later review which is provided for under statute.

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