Robert Troy (Longford-Westmeath, Fianna Fail) | Oireachtas source

The guiding principle of the CLRG's report was to reduce the cost and make the process as accessible as possible. However, there were points on which the CLRG members did not reach a consensus. My Department is working on developing these points and further operational details. The CLRG has recommended a stand-alone process separate from examinership but mirroring key elements of examinership in respect of rescue and small companies.

This is very much a priority for both me and the Tánaiste. We spoke about it only last week to explore how we can ensure measures are put in place to sustain viable businesses. No one wants to see viable businesses going out of business. That is why, as a temporary measure, we increased the number of days to 150 and the threshold to €50,000. It is also the reason for the extension earlier this week until July.

We need to have a new fit-for-purpose regime put in place for the SME sector, and we are determined to do so in a timely fashion.

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