O’Brien calls for changes to Personal Insolvency Legislation
March 6, 2012
Sinn Féin Justice Spokesperson Jonathan O’Brien TD has called on Minister Alan Shatter to carefully examine the recommendations of a report on the Personal Insolvency Bill with a view to introducing changes to the General Scheme of the Bill.
Deputy O’Brien was speaking today at the Oireachtas Committee on Justice, Defence and Equality.
The Cork North Central TD said;
“I welcome this committee report as it is high time that these issues were dealt with. Clearly there is a need to ensure that the family home is protected as far as possible when it comes to debtors.
“I also endorse the committee’s proposal that MABS, if resourced adequately, could take on the role of Personal Insolvency Trustees. Further to this, it is clear that the minister should take on board the committee’s view that the Circuit Court should be used for insolvency proceedings in order to reduce costs.
“The current legislation is archaic and outdated and, given the levels of debt in Ireland and the numbers of homes at risk, there is a real urgency in dealing with this. Reformed personal insolvency legislation is needed to help those in severe financial difficulties to move on with their lives. This must be part of a range of measures designed to deal with all the issues relating to debt, insolvency, and mortgage distress.
“Sinn Féin will table amendments in order to make the personal insolvency system more humane and progressive as the legislation makes its way through the Dáil.”