Results 8,201-8,220 of 19,162 for speaker:Alan Shatter

Written Answers — Department of Justice and Equality: Child Protection (5 Dec 2012)

Alan Shatter: I understand that the Deputy has tabled an identical question to my colleague the Minister for Children and Youth Affairs. I am informed by the Garda authorities that, in accordance with Section 7.7 of the Children First National Guidance for the Protection and Welfare of Children 2011, An Garda Síochána will formally notify the Health Service Executive (HSE) when they suspect...

Written Answers — Department of Justice and Equality: Tribunals of Inquiry (5 Dec 2012)

Alan Shatter: I am informed by the Garda authorities that the examination of the Report of Moriarty Tribunal, referred to the Garda Commissioner to identify what, if any, criminal offences have been disclosed which may required investigation by An Garda Síochána has recently been completed. An Garda Síochána has now sought the advice of the Director of Public Prosecutions (DPP) on the...

Seanad: Personal Insolvency Bill 2012: Committee Stage (Resumed) (4 Dec 2012)

Alan Shatter: I will be brief, as we dealt with the issue of whether it should be a one-year or three-year period on Second Stage. First, the three-year period is chosen because it is the average period in most European Union countries. England is an outlier in that it has a one-year period. Second, we must have a balance in the legislation as between debtors and creditors and must give creditors some...

Seanad: Personal Insolvency Bill 2012: Committee Stage (Resumed) (4 Dec 2012)

Alan Shatter: I am advised that the proposal from the Senator is not necessary and would not add to the comprehension of section 130, which deals with the set-off of assets and debts between a debtor and creditor. Any balance would then likely be the subject of a debt resolution process as provided for in the Bill. The issue of consent as such does not arise in this particular context and, in the...

Seanad: Personal Insolvency Bill 2012: Committee Stage (Resumed) (4 Dec 2012)

Alan Shatter: Amendment No. 135 would seek to have the proposed bankruptcy payment order terminated with immediate effect once the bankrupt is discharged. The Bill significantly reforms the provisions with regard to automatic discharge of bankruptcy by reducing the period from 12 years to three years. With the likely increase in persons in bankruptcy from the current level of approximately 30 persons per...

Seanad: Personal Insolvency Bill 2012: Committee Stage (Resumed) (4 Dec 2012)

Alan Shatter: I understood the Senator was planning to withdraw the amendment.

Seanad: Personal Insolvency Bill 2012: Committee Stage (Resumed) (4 Dec 2012)

Alan Shatter: The Senator is correct that in cases where creditors are worth above ¤3 million, they must agree to go above that threshold. I will have another look at that but it comes back to the issue that we discussed earlier that there was a real case for not having a threshold at all because this is about debt resolution. Accordingly, it is not about letting someone off but about creating a...

Seanad: Personal Insolvency Bill 2012: Committee Stage (Resumed) (4 Dec 2012)

Alan Shatter: These amendments replicate amendments Nos. 113 to 118, inclusive, which we discussed earlier, with regard to drastically altering the proportions of creditors required to vote to accept a personal insolvency arrangement. For the reasons previously given, I cannot accept the Senator's amendments.

Seanad: Personal Insolvency Bill 2012: Committee Stage (Resumed) (4 Dec 2012)

Alan Shatter: I largely agree with the thrust of the proposal. I am of the view that the amount of ¤650 in regard to a debtor seeking to obtain credit without informing the other person of his or her participation in a debt resolution process under the Bill should be standardised. The amount is already provided for in section 33 in respect of debt relief notices and in section 76 in respect of debt...

Seanad: Personal Insolvency Bill 2012: Committee Stage (Resumed) (4 Dec 2012)

Alan Shatter: This is a technical drafting amendment consequent on amendment No. 133 regarding debts in other currencies. Amendment No. 133 proposes to insert a new section in Chapter 6 which sets out how debts in other currencies are to be dealt with in the context of the provisions of the Bill. There are specific references to a foreign currency in section 68(3) and section 104(2). However, I am...

Seanad: Personal Insolvency Bill 2012: Committee Stage (Resumed) (4 Dec 2012)

Alan Shatter: This is a technical drafting amendment to improve the text. The various amendments from the Senators seek to reduce the voting proportions in respect of all creditors in the subclass of secured and unsecured creditors required to approve a PIA at a creditors meeting. Amendments Nos. 113 and 114 concern proposals to reduce the overall level of votes required at such a meeting to approve a...

Seanad: Personal Insolvency Bill 2012: Committee Stage (Resumed) (4 Dec 2012)

Alan Shatter: At least 50% of the secured and unsecured creditors must agree and this is based on a weighted value of the amount owed, which gets us to the figure of 65%.

Seanad: Personal Insolvency Bill 2012: Committee Stage (Resumed) (4 Dec 2012)

Alan Shatter: I have explained why I cannot accept the amendments.

Seanad: Personal Insolvency Bill 2012: Committee Stage (Resumed) (4 Dec 2012)

Alan Shatter: I know this is a well-intended amendment but it is odd for a reason I will come to in a moment. Section 98 sets out a number of detailed requirements primarily in regard to valuation and treatment of the security held by a secured creditor, the personal insolvency arrangement. It is not clear in regard to the provisions of the section, what the Senator's proposal seeks to achieve. Clearly,...

Seanad: Personal Insolvency Bill 2012: Committee Stage (Resumed) (4 Dec 2012)

Alan Shatter: I also have to be fair. The financial institutions have responded to people's short-term debt crises. Forbearance arrangements have been in place in the past three or four years of the financial crisis and the collapse of property prices. We know from statistics and information made available, that approximately 80,000 arrangements have been entered into which involve debt forbearance....

Seanad: Personal Insolvency Bill 2012: Committee Stage (Resumed) (4 Dec 2012)

Alan Shatter: Creditors can agree in the context of the process to have a resolution that goes beyond the ¤3 million.

Seanad: Personal Insolvency Bill 2012: Committee Stage (Resumed) (4 Dec 2012)

Alan Shatter: Amendment No. 98 has not been discussed already because amendment No. 97 has not been moved. Government amendment No. 98 is a technical drafting amendment which arises as a result of the new approach to excluded and excludable debts set out in section 2. In section 95(2), paragraphs (d) and (e) are no longer required and are proposed for deletion. The old paragraph (c) is to be...

Seanad: Personal Insolvency Bill 2012: Committee Stage (Resumed) (4 Dec 2012)

Alan Shatter: It might be helpful if the Senator were to withdraw the amendment having moved it. This would facilitate an overall discussion on the regulation of PIPs. To be of assistance to Members, I have a briefing note on this matter.

Seanad: Personal Insolvency Bill 2012: Committee Stage (Resumed) (4 Dec 2012)

Alan Shatter: I will deal with amendment No. 100 and in the knowledge that the Senator will withdraw it I will not say anything unkind about it. I will also deal with amendments Nos. 136 to 140, inclusive, and amendment No. 165. The new Part V of the Bill comprising sections 147 to 174, proposed to be inserted by amendments Nos. 136 to 163, make provision for the regulation, supervision and discipline of...

Seanad: Personal Insolvency Bill 2012: Committee Stage (Resumed) (4 Dec 2012)

Alan Shatter: Both amendments propose to reduce the indicative limit for the aggregate amount of secured debt that may be proposed in a personal insolvency arrangement, PIA, from ¤3 million to ¤1 million. The Senator's proposals may be based on some comment of the troika in this regard. Such comments were, I feel, based perhaps on an incomplete understanding of the innovative debt resolution proposals...