Thursday, 17 April 2014

Questions (200)

Michael McGrath

Question:

200. Deputy Michael McGrath asked the Minister for Justice and Equality the number of proposed personal insolvency arrangements that were rejected by a majority of creditors; and if he will make a statement on the matter. [18503/14]

View answer

Written answers (Question to Justice)

The ISI is unable to provide the details requested by the Deputy as the information is beyond the scope of the Personal Insolvency Act 2012, as amended.

Under the Personal Insolvency Act 2012, as amended, there is no obligation on Personal Insolvency Practitioners to inform the Insolvency Service of Ireland (ISI) of the outcome of any vote taken at a creditors meeting, if rejected, as the process terminates at that point in the normal course.

Neither does the legislation require that the ISI be made aware of the details of discussions with creditors, either before a creditors meeting takes place, or once a vote is taken and lost.