Is the Government concerned about a developer's ability, under current insolvency and receivership law, to convert themselves into a secured creditor during the collapse of their own residential project? This is the shocking scenario that homeowners have faced in my constituency in Ringfort, Rathmolyon, County Meath. The developer now ranks ahead of Revenue and the contracted home buyers, which may leave the State at some loss but, more importantly, these five families at a huge loss. Will the Government review the legal framework that enables this practice to happen? Ringfort is a development of 16 houses that these families and others put deposits on in good faith, paid for extras and signed valid, binding contracts on more than five years ago. The developer does not wish to honour the said contracts, as he can see he would make so much more today selling the houses. He should not be allowed to do this. He is shattering the dreams and futures of these families.

This is an awful situation, which the Deputy has also discussed with me directly. I am familiar with it. I will raise this matter directly with the line Minister. I think this will cross over between the Departments of justice and Finance. It is an horrendous situation that these prospective home buyers find themselves in. It is something I will discuss directly with the Tánaiste and the Minister for justice. I thank the Deputy for raising this. Where we can help, we will, but I need to ensure that we have direct engagement with the relevant line Ministers on it. I will ask them to revert directly to the Deputy.