Results 47,421-47,440 of 49,836 for speaker:Stephen Donnelly

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process (Resumed): Insolvency Service of Ireland (30 Apr 2014)

Stephen Donnelly: Thank you, Chairman. Will Mr. Lehane respond to the question I put to him and Mr. O'Connor?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process (Resumed): Insolvency Service of Ireland (30 Apr 2014)

Stephen Donnelly: Mr. Lehane is the expert on this issue in this country. There are things that could be done to increase the credibility of the threat, including, for example, reducing the discharge period from three years to two or adjusting the maximum duration of the income payment order. What one, two or three policy changes would Mr. Lehane make - these changes could potentially be time bound to two or...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process (Resumed): Insolvency Service of Ireland (30 Apr 2014)

Stephen Donnelly: My specific question was what Mr. Lehane might change in the current regime. There are levers that can be pulled all over the legislation. If we want to make the process more accessible and more of a credible threat, which of those levers would Mr. Lehane pull first?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process (Resumed): Insolvency Service of Ireland (30 Apr 2014)

Stephen Donnelly: Mr. O'Connor referred to a four-figure number. Does 2,000 or 3,000 seem reasonable?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process (Resumed): Insolvency Service of Ireland (30 Apr 2014)

Stephen Donnelly: Is Mr. O'Connor's estimate in the low thousands or high thousands? It is important.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process (Resumed): Insolvency Service of Ireland (30 Apr 2014)

Stephen Donnelly: Let us suppose the figure is 4,000 by the end of the year for cases either in train or completed, whether personal insolvency arrangements, PIAs, or debt settlement arrangements, DSAs. These are the two arrangements relevant to the mortgage crisis, which is what the committee is addressing. Does that seem like a reasonable estimate to Mr. O'Connor, notwithstanding everything he has said?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process (Resumed): Insolvency Service of Ireland (30 Apr 2014)

Stephen Donnelly: Here is my problem. I know Mr. O'Connor and his team are doing the best they can with the legislation they have been given. I would prefer that number to be greater because, for all the flaws that the insolvency legislation has, it is none the less a superior mechanism to what we are seeing in the voluntary arrangements. The spirit of the insolvency legislation, which some banks have...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process (Resumed): Insolvency Service of Ireland (30 Apr 2014)

Stephen Donnelly: My problem with the voluntary arrangements is that, in the case of many of the banks, over 90% of the so-called sustainable restructures actually end up in higher payments being made over the lifetime of the debt. We have the figures from the banks. For example, I have seen the figure from Bank of Ireland and it amounts to well over 90%. Term extensions increase total payments,...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process (Resumed): Insolvency Service of Ireland (30 Apr 2014)

Stephen Donnelly: Mr. O'Connor has referred to information campaign and the protocol. Is there anything else? Are there any other big-ticket items?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process (Resumed): Insolvency Service of Ireland (30 Apr 2014)

Stephen Donnelly: Let us return to the figure of 4,000. We accept it may be 2,000, 1,000 or 8,000, but we are using 4,000. Does this estimate include the information campaign and the protocols?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process (Resumed): Insolvency Service of Ireland (30 Apr 2014)

Stephen Donnelly: I understand that.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process (Resumed): Insolvency Service of Ireland (30 Apr 2014)

Stephen Donnelly: Let me rephrase the question. We are discussing this figure of 4,000. Accepting that it is a range, does Mr. O'Connor believe the protocol and information campaign may bring it up to 10,000, 20,000, 30,000 or 40,000?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process (Resumed): Insolvency Service of Ireland (30 Apr 2014)

Stephen Donnelly: Neither do I. I believe the protocol and information campaign, rightly, have been figured in because they are things the service is already planning on doing. Therefore, when we are discussing the estimate of the ISI for the end of the year, it is right and proper that the service should include them. Here is my question. A figure of 4,000 is not enough. It is great for the 4,000...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process (Resumed): Insolvency Service of Ireland (30 Apr 2014)

Stephen Donnelly: I thank the witnesses for taking the time to appear before the committee. I think we have not got the total number of deals done in terms of protective certificates issued, PIAs and DSAs. Mr. O'Connor said that more than 100 protective certificates have been issued. I think I heard that 11 PIAs have been signed off. Is that correct?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process (Resumed): Insolvency Service of Ireland (30 Apr 2014)

Stephen Donnelly: How many DSAs?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process (Resumed): Insolvency Service of Ireland (30 Apr 2014)

Stephen Donnelly: Therefore, the two numbers that are relevant to the mortgage crisis are PIAs and DSAs. Does the witness have an estimate as to how many will be completed by the end of this year?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process (Resumed): Insolvency Service of Ireland (30 Apr 2014)

Stephen Donnelly: A four-figure number, so 1,000 or 9,000.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process (Resumed): Insolvency Service of Ireland (30 Apr 2014)

Stephen Donnelly: So the witness-----

Written Answers — Department of Environment, Community and Local Government: Planning Issues (30 Apr 2014)

Stephen Donnelly: 450. To ask the Minister for Environment, Community and Local Government his policy on the duty of local authorities to enforce the terms and conditions of planning approvals granted by An Bord Pleanála under section 175 of the Planning and Development Act 2000 for a public private partnership project, where such terms and conditions are essential to preserving the integrity of the...

Written Answers — Department of Environment, Community and Local Government: Planning Issues (30 Apr 2014)

Stephen Donnelly: 451. To ask the Minister for Environment, Community and Local Government the mechanisms for oversight and-or mechanisms for investigation available for the actions of a local authority to be investigated, where the local authority has failed or neglected to enforce planning terms and conditions granted by An Bord Pleanála under section 175 of the Planning and Development Act 2000 for a...