Gary Gannon (Dublin Central, Social Democrats)

I appreciate the opportunity to speak on the motion on Ireland's opt-in to the EU's amending regulation on insolvency proceedings. This might appear to be a technical matter and just another adjustment to European legal frameworks, but to those of us who believe the law should first and foremost serve people, it is anything but abstract. Insolvency law, at its core, governs what happens when things fall apart, a business collapses, debts cannot be paid and livelihood is on the line. This is the system we rely on to provide order, fairness and, hopefully, justice.

While I recognise and agree with the intention of the motion to streamline cross-border insolvency, prevent jurisdiction shopping and protect creditors, where necessary, we should also consider who it actually benefits and who might be overlooked. In this country, we have seen how financial systems can bend under pressure. We have been destroyed by it. We have seen individuals use foreign jurisdictions to resolve debts under more favourable conditions, something that is not available to most people struggling under the same weight. It is one thing to reform insolvency laws to facilitate smoother procedures across Europe but it is another ensure that reform benefits everyone equally. Let us not pretend that access to cross-border insolvency protections is evenly distributed. Those with knowledge, means and connections are far more likely to benefit than a small business owner or family who have fallen behind on their mortgage payments.

If we are to support the opt-in, as the Labour Party will in this case, it must be done with full awareness of the gaps in access and fairness that persist. We should not allow this to become a tool used more effectively by the wealthy than it can by the vulnerable.

I also caution that insolvency laws must never become a convenient mechanism to dissolve responsibility, be it financial, ethical or social. When creditors are protected workers must be protected too. When insolvency allows debts to be cleared safeguards must be in place to ensure it is not done at the expense of wages and pensions or with disruption to communities.

While Ireland is aligning our framework with Europe, we should take the opportunity to ask whether our domestic insolvency system is fit for purpose. Is it humane and accessible and does it provide a real path forward for ordinary people, not just corporations or those who can afford teams of advisers? This moment is an opportunity to reflect on what insolvency proceedings should look like in a republic that claims to value dignity, justice and equality. If we support this motion, let it be part of a broader commitment, one in which reform does not stop at compliance but goes further into fairness.

I support closer European co-operation but not at the cost of turning away from the lived experience of those in financial distress at home. Let us make sure that this is not just a bureaucratic tick-box exercise but a step towards a system that works for all, not just for those who know how to work it.

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