Insolvency Reform to "Progress Rapidly" following meeting with the Tanaiste, Joan Burton, T.D. and APIP Chairman, Eric Hendy

On Wednesday (6th May 2015), APIP Chairman, Eric Hendy met the Tánaiste and Minister for Social Protection, Joan Burton, T.D. and her advisors in Dáil Éireann.  They discussed mortgage debt and repossessions and proposals for reforming the current insolvency system.  In addition, APIP confirm their belief that the ISI (Insolvency Service of Ireland) should be more visible and active in the system.  The organisation also continues to support changing the banks power to veto arrangements.

Speaking after the meeting with the Tánaiste, Eric Hendy, Chairman of APIP, said; “There is mutual agreement between all parties on the steps we need to take going forward.  Plans for insolvency reform will now progress rapidly.”

Following Minister Micheal Noonan’s comments yesterday (7th May 2015), the APIP Chairman said; “After two weeks of high-level talks with political figures, we (APIP) are fully supportive of Minister Noonan’s plans to change the bank veto.  Keeping debtors in their homes is the priority under the Personal Insolvency Act 2012.”

Speaking about the need to enforce debtors’ rights, Eric Hendy, APIP Chairman, commented; “We are asking the ISI to be more proactive in the courts so that debtors are afforded the protection they are entitled to, under the Land and Conveyancing Law Reform Act 2013.  At all repossession hearings, there should be an obligation on the lender to inform the borrower of his rights under the Act.” 

In an effort to reduce and adjourn repossession orders, APIP members will be present in the insolvency court.  “The ISI has to improve their advertising campaign to make the public more aware of the various options available in the event of a repossession order.  We will monitor the proceedings and, again, urge borrowers to attend court to adjourn repossession orders and appoint a PIP.  If they have any chance of keeping their homes, they need to show up in court.” concluded the APIP Chairman.

- ends -

For further information and/or to arrange an interview with Eric Hendy, Chairman of APIP, contact Orla Clancy, Media Consultant, at orla@ocpr.ie or telephone 087 938 8882.

Notes to Editor

APIP

The Association of Personal Insolvency Practitioners (APIP) is the largest representative body of personal insolvency practitioners (PIPs) in Ireland.  APIP members are authorised by the Insolvency Service of Ireland (ISI).  With a current membership of 81, APIP collectively represent a significant number of insolvency and bankruptcy clients nationwide who are at various stages of the process. 

Eric Hendy, Chairman of APIP

As the representative for the 81 APIP members throughout Ireland, APIP Chairman, Eric Hendy has and is continuing to engage with various members of the government to progress the current insolvency system in Ireland.

Recent Meetings

On Wednesday, 6th May 2015, APIP Chairman, Eric Hendy, met the Tánaiste and Minister for Social Protection, Joan Burton, T.D. and her advisors, and (separate meeting) Fine Gael T.D., Dr. Liam Twomey in Dáil Éireann.

Pending Meetings

APIP Chairman, Eric Hendy will continue to meet political figures in the coming weeks to discuss APIP’s proposals for insolvency reform.

Further Information

2015 APIP Committee

Eric Hendy, Chairman of APIP
Tara Cheevers, Secretary of APIP
Mitchell O'Brien, APIP Committee Member
Steven Curtis, APIP Committee Member
John Kenny, APIP Committee Member
Alan McGee, APIP Committee Member