Results 7,021-7,040 of 16,492 for speaker:Ciarán Lynch

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

Ciarán Lynch: What is the average time for which Mr. Lehane would hold a property before making a determination or a decision on it?

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

Ciarán Lynch: I will come back to the €5,000 fee. Mr. Lehane is holding properties pending the making of a determination.

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

Ciarán Lynch: For how long is Mr. Lehane holding on to properties on average?

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

Ciarán Lynch: Mr. Lehane has held on to his share of a family home and disposed of the other share.

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

Ciarán Lynch: The general feeling is that a sustainable solution is something that may require a certain level of hardship and, in some cases, a prolonged period of hardship, but, ultimately, there is redemption at the end with certainty about the future for all clients involved - debtors and creditors. In respect of the Insolvency Service of Ireland, people would be in purgatory, but there would be...

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

Ciarán Lynch: The reason I am pinning down the witnesses on this point is that the impression we got from some of the banks that have come before us is that the bankruptcy route seems to be the least painful one which is a little ironic with regard to the approach they are taking. I imagine the question people considering bankruptcy would ask themselves is where their property or home would lie at the...

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

Ciarán Lynch: That brings me to my final question. Why is somebody being charged a minimum of €5,000-----

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

Ciarán Lynch: -----for a house that is in negative equity, given that they are paying €5,000 to buy something that is a liability because it is in negative equity?

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

Ciarán Lynch: The Deputy has four and half minutes remaining.

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

Ciarán Lynch: I must be excused from the committee for ten minutes. Deputy Kieran O'Donnell will chair the meeting in my absence.

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

Ciarán Lynch: Deputy Donnelly is out of time

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

Ciarán Lynch: I will allow the Deputy a little more time.

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

Ciarán Lynch: Before calling the next speaker, I have a couple of questions for Mr. O'Connor. Of the personal insolvency arrangements that have been put in place, can he indicate the number of vetoes that have been instigated against them? Second, to what extent are the unsecured partners in those arrangements, such as credit unions, credit card companies and so on, co-operating? Are they resistant to...

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

Ciarán Lynch: Have vetoes been exercised in respect of any PIA arrangements?

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

Ciarán Lynch: How many?

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

Ciarán Lynch: Would Mr. O'Connor be in a position to provide that number?

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

Ciarán Lynch: When the chief executive officers of the banks came before us, there was a suggestion that unsecured loans such as those offered by credit union loans and others are continuing to be repaid while people are not servicing their mortgage debts at any level whatsoever. Have our guests encountered this when drawing up PIAs?

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

Ciarán Lynch: I thank Mr. O'Connor and I call Deputy Kevin Humphreys, who has ten minutes.

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

Ciarán Lynch: I will take a few brief supplementary questions.

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

Ciarán Lynch: I will allow Deputy Humphreys make a brief contribution.