Written answers

Tuesday, 5 November 2013

Department of Justice and Equality

Insolvency Service of Ireland Issues

Photo of Joe McHughJoe McHugh (Donegal North East, Fine Gael)
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750. To ask the Minister for Justice and Equality the current position regarding the personal insolvency service. [46012/13]

Photo of Alan ShatterAlan Shatter (Dublin South, Fine Gael)
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As of 1 November 2013, there are a total of 72 Personal Insolvency Practitioners (PIPs) currently authorised by the Insolvency Service of Ireland (ISI). In addition, on the same date there are 18 MABS companies representing 47 individuals authorised to act as Approved Intermediaries (AIs). The location and contact details of AIs and PIPs are publicly available on the relevant Registers on the ISI's website, www.isi.gov.ie. It is expected that the number of authorised AIs and PIPs will increase over the coming months.

The ISI is currently processing a number of debt relief applications. However, as I have previously advised, the ISI has stated that in the interest of confidentiality, it will not be providing breakdowns of the numbers of applications for the various debt relief solutions received or being processed at this time. The ISI fully intends to provide quarterly statistics once a statistically meaningful number of applications have been processed.

It is a welcome development that the Circuit Court recently issued the first Protective Certificate for a Debt Settlement Arrangement. Debt Settlement Arrangements and Personal Insolvency Arrangements are conducted in a two stage process. The Protective Certificate at stage one offers a 70 day window for Practitioners to develop a proposal to the satisfaction of the debtor and creditors. This means that the first Debt Settlement Arrangements and Personal Insolvency Arrangements will issue in the near future - approximately 70 days after a Protective Certificate has issued. It might be noted that as soon as the Protective Certificate issues, debtors are protected from any action that creditors, subject to the Protective Certificate, may be inclined to take.

The ISI continues to engage with key stakeholders on a number of issues and is working on the following:

- standardising a Personal Insolvency Arrangement template;

- establishing a Complaints Panel for complaints of improper conduct by PIPs;

- establishing a PIP education oversight committee;

- PIP forum facilitation;

- Integration of the Office of the Official Assignee and preparation for the anticipated increase in bankruptcy cases.

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