Richard Bruton (Dublin Bay North, Fine Gael) | Oireachtas source

I thank the Minister of State and welcome his acknowledgement that the cost of examinership, running between €80,000 and €130,000 and involving High Court action, is way beyond the scope of most companies. It is estimated that fewer than one quarter of the companies that would be rescued by examinership in the US or UK are subject to such restructuring rescue here.

This will break in the next six months. I do not believe the Government will be able to get legislation through in time for the high point. Could the Minister of State consider changes that might be made on an administrative basis? He rightly said there are complex issues associated with creditors but the worst thing of all for creditors is to see a viable business destroyed and everyone left without any payment. Therefore, I stress the urgency of bringing forward proposals.

See this speech in context