Results 8,661-8,680 of 19,162 for speaker:Alan Shatter

Personal Insolvency Bill 2012: Report Stage (Resumed) and Final Stage (7 Nov 2012)

Alan Shatter: I move amendment No. 173:In page 101, lines 39 and 40, to delete all words from and including "every" in line 39 down to and including "meeting" in line 40 and substitute the following:"in respect of every specified debt, the creditor concerned,".

Personal Insolvency Bill 2012: Report Stage (Resumed) and Final Stage (7 Nov 2012)

Alan Shatter: I move amendment No. 174:In page 102, line 38, to delete "in force" and substitute "in effect".

Personal Insolvency Bill 2012: Report Stage (Resumed) and Final Stage (7 Nov 2012)

Alan Shatter: Amendments Nos. 175 to 180, inclusive, essentially replicate the proposals made by Deputies Mac Lochlainn and Niall Collins in section 106 of the Bill, specifically amendments Nos. 163 to 168, inclusive, with regard to drastically altering the proportions of creditors required to vote to accept a personal insolvency arrangement. The amendments are rejected for the reasons previously outlined.

Personal Insolvency Bill 2012: Report Stage (Resumed) and Final Stage (7 Nov 2012)

Alan Shatter: I move amendment No. 181:In page 105, line 46, to delete "the level of" and substitute "the extent of".

Personal Insolvency Bill 2012: Report Stage (Resumed) and Final Stage (7 Nov 2012)

Alan Shatter: I move amendment No. 183:In page 107, lines 21 and 22, to delete all words from and including "at" in line 21 down to and including "Arrangement," in line 22 and substitute the following: "as respects a Personal Insolvency Arrangement, at any time during which the arrangement concerned is in effect,".

Personal Insolvency Bill 2012: Report Stage (Resumed) and Final Stage (7 Nov 2012)

Alan Shatter: I move amendment No. 184:In page 107, line 23, to delete "a Personal Insolvency Arrangement" and substitute "that Personal Insolvency Arrangement".

Personal Insolvency Bill 2012: Report Stage (Resumed) and Final Stage (7 Nov 2012)

Alan Shatter: I move amendment No. 185:In page 107, between lines 43 and 44, to insert the following:“(2) For the purposes of subsection (1)(e), a debtor is in arrears with his or her payments for a period of not less than 3 months where—(a) at the beginning of the 3 month period ending immediately before the day on which the application was made, one or more than one payment in respect of the...

Personal Insolvency Bill 2012: Report Stage (Resumed) and Final Stage (7 Nov 2012)

Alan Shatter: I will deal with amendments Nos. 163 to 168, inclusive, together. The amendments seek to reduce the voting proportions in respect of all creditors. A sub-class of secured and unsecured credit is required to prove a personal insolvency arrangement at a creditors' meeting. Amendments Nos. 163 and 164 concern proposals to reduce the overall level of votes required at a creditors' meeting to...

Personal Insolvency Bill 2012: Report Stage (Resumed) and Final Stage (7 Nov 2012)

Alan Shatter: Financial institutions will cut deals because the reality of the current situation is that distressed borrowers are far more likely than not to be in negative equity. That is the reality we are facing. An individual who has a family home that is in positive equity might also have other borrowings against other properties. I expect the personal insolvency arrangement mechanisms set out in...

Personal Insolvency Bill 2012: Report Stage (Resumed) and Final Stage (7 Nov 2012)

Alan Shatter: I move amendment No. 160:In page 94, lines 10 and 11, to delete "contained in the submission of" and substitute "furnished by".This is a drafting amendment to improve the clarity of the text.

Personal Insolvency Bill 2012: Report Stage (Resumed) and Final Stage (7 Nov 2012)

Alan Shatter: I move amendment No. 161:In page 95, to delete lines 37 and 38 and substitute the following: "(b) ensure that a copy of the documents referred to in section 103 are sent to each creditor concerned with the notice calling the meeting;".

Personal Insolvency Bill 2012: Report Stage (Resumed) and Final Stage (7 Nov 2012)

Alan Shatter: I move amendment No. 162:In page 97, lines 35 and 36, to delete "section 104" and substitute "section 102".This drafting amendment corrects a cross-referencing error in the text of section 105.

Personal Insolvency Bill 2012: Report Stage (Resumed) and Final Stage (7 Nov 2012)

Alan Shatter: There are certain debts that people will have to discharge because of their nature. If there is a sum due to a local authority, it will have to be discharged because the shortfall would effectively have an impact on everybody living in the local authority area. It is not a question of paying a management company as such. Where there is an apartment block, the owners or someone exercises...

Personal Insolvency Bill 2012: Report Stage (Resumed) and Final Stage (7 Nov 2012)

Alan Shatter: They will have to be paid to meet the financial obligation. It may be a question of dialogue with the management company that represents the owners; those in question are not people who are benefiting beyond just doing the job of ensuring an apartment block is properly maintained. Somebody may say it is fine to pay in six months, but the debts will not be written off or fall on the backs of...

Personal Insolvency Bill 2012: Report Stage (Resumed) and Final Stage (7 Nov 2012)

Alan Shatter: Section 98 sets out a number of detailed requirements, primarily in regard to the valuation and treatment of a security held by a secured creditor in a personal insolvency arrangement. It is not clear in regard to the provisions of this section what the Deputy's proposal seeks to achieve. For example, what would his reaction be if, in the context of his proposal, the secured creditor...

Personal Insolvency Bill 2012: Report Stage (Resumed) and Final Stage (7 Nov 2012)

Alan Shatter: I move amendment No. 156:In page 91, to delete lines 29 and 30 and substitute the following: (b) a reduction of the principal sum due in respect of the secured debt due to that secured creditor to a specified amount,".This is effectively a drafting amendment. Its purpose is to ensure consistency between the wording of subsections (2) and (3) of section 99.

Personal Insolvency Bill 2012: Report Stage (Resumed) and Final Stage (7 Nov 2012)

Alan Shatter: I move amendment No. 157:In page 93, to delete lines 5 to 8 and substitute the following:"require the debtor to— (a) dispose of an interest in, or (b) cease to occupy, all or a part of his or her principal private residence and the personal insolvency practitioner shall consider any appropriate alternatives.".This is effectively a drafting amendment. Its purpose is to ensure...

Personal Insolvency Bill 2012: Report Stage (Resumed) and Final Stage (7 Nov 2012)

Alan Shatter: I move amendment No. 158:In page 94, line 2, to delete "that".

Personal Insolvency Bill 2012: Report Stage (Resumed) and Final Stage (7 Nov 2012)

Alan Shatter: I thank the Deputy for tabling this amendment because it highlights an important element of discussion in regard to this issue, on which it is worth spending a few minutes. The Deputy's amendment No. 159 essentially concerns repossession applications before the courts. It does not relate to personal insolvency arrangement applications as provided for under this Bill, although I understand...

Personal Insolvency Bill 2012: Report Stage (Resumed) and Final Stage (7 Nov 2012)

Alan Shatter: I move amendment No.134:In page 77, to delete lines 16 to 22 and substitute the following:"(f) that the personal insolvency practitioner has completed a statement under section 50 in respect of the debtor;".