Results 5,321-5,340 of 16,492 for speaker:Ciarán Lynch

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Insolvency Service of Ireland: Discussion (17 Jul 2013)

Ciarán Lynch: Is there a six-month period or other determined period in which all creditors and so on are frozen out while the personal insolvency practitioner puts together the-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Insolvency Service of Ireland: Discussion (17 Jul 2013)

Ciarán Lynch: So it is incorrect to say the telephone calls continue while somebody is in an insolvency process.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Insolvency Service of Ireland: Discussion (17 Jul 2013)

Ciarán Lynch: In terms of consistency of approach with regard to personal insolvency arrangements, who has the oversight function for that? Is it the insolvency service or the Central Bank?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Insolvency Service of Ireland: Discussion (17 Jul 2013)

Ciarán Lynch: It is like "Who Wants To Be A Millionaire?" here. Is somebody phoning a friend with the answers? Will the person whose phone is ringing please turn it off?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Insolvency Service of Ireland: Discussion (17 Jul 2013)

Ciarán Lynch: We will go for 50/50 or phone-a-friend, if Mr. O'Connor does not mind.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Insolvency Service of Ireland: Discussion (17 Jul 2013)

Ciarán Lynch: That brings me to the issue of confidentiality clauses, information coming into the public domain and so forth. We are arriving at a situation since the end of quarter two where 25% of the distressed mortgage books must be dealt with by October, which is the next deadline. We need to get up to 50% and I imagine that will create a good deal of work in Mr. O'Connor's area as the banks have to...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Insolvency Service of Ireland: Discussion (17 Jul 2013)

Ciarán Lynch: To be negotiated.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Insolvency Service of Ireland: Discussion (17 Jul 2013)

Ciarán Lynch: The confidentiality clause covers negotiation, not what has been agreed.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Insolvency Service of Ireland: Discussion (17 Jul 2013)

Ciarán Lynch: In that regard we move on to arrangements for people going to Mr. O'Connor's service. What is the state of play with regard to naming people who avail of the insolvency service? The ISI will be up and running by the start of August. If individuals engage with the service will they find, having gone through the process, that by Christmas their names will be on some register?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Insolvency Service of Ireland: Discussion (17 Jul 2013)

Ciarán Lynch: I understand that the Revenue Commissioners prints a list of people who engage in tax evasion. It is a name-and-shame process, but there is nothing to be ashamed of if somebody becomes insolvent. People go broke every day of the week, so why do we need a public register?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Insolvency Service of Ireland: Discussion (17 Jul 2013)

Ciarán Lynch: I worked in adult education for about 20 years, specifically in the area of adult literacy. A peculiar aspect of the Irish psyche is that people will talk openly on television about being an addict or having a dysfunctional life, but the level of confidentiality people have with regard to literacy problems is incredible. The type of confidentiality one must give people to get into the...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Insolvency Service of Ireland: Discussion (17 Jul 2013)

Ciarán Lynch: People with reading and writing difficulties need help as well, but they do not want the world to know they are getting it.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Insolvency Service of Ireland: Discussion (17 Jul 2013)

Ciarán Lynch: I feel very strongly about this legislation.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Insolvency Service of Ireland: Discussion (17 Jul 2013)

Ciarán Lynch: If it is a policy issue it rests with us, as opposed to the Insolvency Service of Ireland.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Insolvency Service of Ireland: Discussion (17 Jul 2013)

Ciarán Lynch: I want to move on to some other points. Earlier this year, I spoke at a seminar that was also addressed by Mr. O'Connor. I drew a comparison in that when the Private Residential Tenancies Board, PRTB, was being established under the Residential Tenancies Act 2004 there were questions about how mediated problems in the private rental sector would be dealt with. While thousands of people...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Insolvency Service of Ireland: Discussion (17 Jul 2013)

Ciarán Lynch: Returning to the PRTB, I believe the adjudicators are paid €600 per day to deal with one case. When I was on the environment committee we called in the PRTB to find out what was going on. We asked them to deal with three cases a day, which the board is now doing, for €700 because of familiarity. In future, should a ceiling be placed on the assessment fee? As I understand it,...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Insolvency Service of Ireland: Discussion (17 Jul 2013)

Ciarán Lynch: Will the ISI be setting fee guidelines for practitioners?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Insolvency Service of Ireland: Discussion (17 Jul 2013)

Ciarán Lynch: Can we have a question rather than a commentary?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Insolvency Service of Ireland: Discussion (17 Jul 2013)

Ciarán Lynch: As this rolls out, some cases will be suited to going down the insolvency route. I suppose one welcomes the development of an insolvency service in the same way one welcomes the development of a cancer treatment centre. One does not want people to be in difficulty, but one welcomes the response to that difficulty. There will be people who, when they go through that assessment, will not be...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Insolvency Service of Ireland: Discussion (17 Jul 2013)

Ciarán Lynch: Who determines that? Is it the Insolvency Service of Ireland, the Central Bank, the banks or the personal insolvency practitioner?