Michael McDowell (Dublin South East, Progressive Democrats)

I agree with the general proposition advanced by Senator Jim Walsh that one should not have a situation in which one can simply realise one's interest in a property and effectively throw the property to the wolves without securing anything for others who might still have a residual interest in it.

However, section 99 provides that:

In the exercise of the power of sale conferred by this Chapter or any express power of sale, the mortgagee, or any receiver or other person acting on behalf of the mortgagee, shall, notwithstanding any stipulation to the contrary in the mortgage, ensure as far as is reasonably practicable that the mortgaged property is sold at the best price reasonably obtainable.

This is probably as far as one can go down that route.