I propose to take Questions Nos. 196 and 197 together.
The Insolvency Service of Ireland (ISI) publishes a quarterly statistical report, which is available on www.isi.gov.ie. The Deputy will note from page 11 of the ISI's most recent statistical report, that:
- the number of new applications during the period in question (quarter 1 and quarter 2 of 2017) was 2,561 of which 2,226 relate to Personal Insolvency Arrangements.
- the number of Protective Certificates during the period amounted to 1,107 of which 956 relate to Personal Insolvency Arrangements.
- the number of solutions approved by Court during the period amounted to 587 of which 400 relate to Personal Insolvency Arrangements.
On page 7 of the quarterly report, there is an analysis of creditor acceptance/rejection rates. The following table is an extract from that report.
Outcome
|
DSA
|
PIA
|
Total
|
YES vote /Court confirmed
|
69.7%
|
56.0%
|
58.8%
|
NO vote
|
7.5%
|
19.4%
|
16.9%
|
Protective certificates expired
|
22.8%
|
24.6%
|
24.2%
|
Since commencement of the section 115A court review process, there have been 632 applications (figures up to 20/10/17). The majority of these cases have yet to reach conclusion. A summary of those that have reached a conclusion is set out as follows.
Outcomes from original S115A application
|
180
|
Reviews approved
|
57
|
Reviews dismissed (including 51 objections upheld on consent)
|
97
|
Reviews withdrawn by debtor
|
26
|
Outcomes to High Court Appeals of Circuit Court Decisions:
|
18
|
Reviews approved
|
4
|
Reviews dismissed
|
9
|
Reviews struck out/withdrawn
|
5
|
It is not possible to state with accuracy the time taken to progress a review application, as each case is treated on its own merits, and is dependent on a number of factors, including whether any application is objected to by a creditor.