Personal insolvency amendment Bill
Deputy Fitzpatrick asked when the personal insolvency amendment Bill would be published and whether it would address the High Court ruling on debt-for-equity swaps. The Tánaiste said the Bill was expected in the spring 2021 session.
The personal insolvency (amendment) (No. 1) Bill is listed under the justice and equality heading on page 11 of the legislative programme. When is it expected to be published and tabled in the House? I have been contacted about a recent High Court decision by Mr. Justice McDonald concerning debt-for-equity swaps in personal insolvency cases, which has effectively excluded thousands of distressed mortgage holders from achieving a solution that allows them to retain their homes. Will this situation be addressed in the proposed legislation? I want the Tánaiste's assurance that the Bill is not only for the benefit of creditors and banks, but addresses serious issues for struggling mortgage holders. They are homeowners - I do not use "home" lightly - with families.
