Paul Bradford (Fine Gael) | Oireachtas source

The section provides that 65% of creditors can agree to their treatment in a scheme of arrangements. It has been suggested to me that where a debtor waives his or her qualifying threshold of, say ¤3 million, that it would require a 100% level of support from secured creditors. It was also suggested to me that a creditor refusing to agree to a personal insolvency agreement suggested by a personal insolvency practitioner could frustrate his or her recovery as well as comprising other creditors who might be willing to enter into some arrangement. Will the Minister advise us on this point? Will this be looked at again between now and Report Stage?