Dáil Éireann Debate, Tuesday - 29 September 2015
354. Deputy Michael McCarthy asked the Minister for Justice and Equality her views on reducing the bankruptcy period to one year; the examination carried out by her Department on the impact of such a proposal; and if she will make a statement on the matter. [32755/15]
View answerAs the Deputy is aware, a proposal to reduce the bankruptcy period to one year is contained in a Private Members Bill published by Deputy Willie Penrose earlier this year.
At my request, the Oireachtas Joint Committee on Justice, Defence and Equality considered the general question of bankruptcy reform and reported to me on 8 July on the matter. It recommended, inter alia, a 1 year bankruptcy term.
The Joint Committee's report is at present under examination in my Department, and I intend to bring the matter to Government in due course. Over this period I and my Department have also been concentrating on finalising the insolvency amendment legislation enacted at the end of July, and on putting in place a range of necessary inputs for the Government action plan on support to borrowers in mortgage arrears.
