Written answers
Tuesday, 27 June 2017
Department of Justice and Equality
Insolvency Service of Ireland Data
Pearse Doherty (Donegal, Sinn Fein)
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258. To ask the Tánaiste and Minister for Justice and Equality the number of insolvency proposals rejected by each bank in which the bank was the primary creditor in each of the past 15 months as a percentage of the total proposals made; and if he will make a statement on the matter. [29457/17]
Charles Flanagan (Laois, Fine Gael)
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I can inform the Deputy that the Insolvency Service of Ireland (ISI) has confirmed that it does not publish the number of insolvency proposals rejected by individual creditors. The ISI publishes a quarterly statistical report, which includes a creditor acceptance/rejection analysis. Page 7 of the 2017 Quarter 1 ISI statistical report published onwww.isi.gov.ierefers.
The table is extracted from that report and shows creditor rejection/acceptance rates from the period of Quarter 4 of 2013 to Quarter 1 of 2017.
| OUTCOME | DSA | PIA | TOTAL | |
|---|---|---|---|---|
| YES | YES vote | 70.3% | 57.5% | 60.2% |
| Successful outcome | 70.3% | 57.5% | 60.2% | |
| NO | NO vote | 7.0% | 16.6% | 14.6% |
| Protective certificates expired | 22.8% | 25.9% | 25.2% | |
| Unsuccessful | 29.7% | 42.5% | 39.8% |
The Deputy should also be aware that under Section 115a of the Personal Insolvency Act, insolvent debtors can seek a review by the Court in certain cases where a creditor has rejected a proposed personal insolvency arrangement (PIA). The Court review gives the Judge power to make an order imposing the PIA proposal that was rejected by creditors, if the Court considers that it offers a fair and equitable solution for both debtor and creditors.
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