Dáil Éireann Debate, Thursday - 19 November 2015
145. Deputy Michael McGrath asked the Minister for Justice and Equality the number of occasions to date in which a bank veto in a personal insolvency case has been overturned by the courts since the passing of legislation earlier in 2015; and if she will make a statement on the matter. [41063/15]
View answerThe Deputy will be aware that I signed a Commencement Order in September 2015 bringing into immediate effect the provisions of the Personal Insolvency (Amendment) Act 2015 which did not require changes to Rules of Court. However, changes are required to the Rules of the Circuit Court and Superior Courts before the Act’s remaining provisions can come into effect.
One of those provisions, and the one relevant to the Deputy’s question, is section 21 which inserted section 115A into the Personal Insolvency Act 2012 and provides for court review of a proposed Personal Insolvency Arrangement rejected by creditors. The Deputy will appreciate that, because the provision has yet to be commenced, there have been no rejected Personal Insolvency Arrangements submitted to the courts for review.
I am pleased to inform the Deputy that the relevant Rules of Court have been signed and I expect to sign the Commencement Order this week for all the remaining provisions of the Personal Insolvency (Amendment) Act 2015, including section 21.
