Willie O'Dea (Limerick City, Fianna Fail) | Oireachtas source

I thank the Minister of State very much for his assurance that it is his intention to have the legislation to provide a system of examinership or restructuring, or whatever one wants to call it, specifically tailored to the needs of these companies in place by summer at the latest. That is most appropriate. If it is done, the necessary addendum to all the money that has been spent on those supports will be in place. I have one question for the Minister of State. I read the report of the CLRG and I note that there were certain fundamental matters on which there were fairly robust differences of opinion. Will the Minister of State take very careful account of those members of the CLRG whose opinion was that it is absolutely essential and critical that in any new system of examinership or rescue, such as is being proposed, the question of an automatic stay of execution in relation to creditors proceeding to put the company into insolvency should apply from a very early date? This could be possibly from the date on which the directors decide on this course of action or, at worst, from the date of the meeting of the creditors and shareholders approving that course of action. Second, will the Minister of State provide me with an assurance that whatever form the legislation takes, and we will have to debate it in depth, it will try to keep these matters as far away from the courts as possible, so that referral to, and involvement of, the courts will be very much a last resort?

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