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Banks may lose insolvency veto

The Finance Minister has given the clearest hint yet that banks are to lose their veto over the inso...
TodayFM
TodayFM

11:08 AM - 7 May 2015



Banks may lose insolvency veto

News

Banks may lose insolvency veto

TodayFM
TodayFM

11:08 AM - 7 May 2015



The Finance Minister has given the clearest hint yet that banks are to lose their veto over the insolvency process.

Michael Noonan says a new bill is being prepared to change parts of insolvency process - including the power to block any deal.

Opposition parties have long argued that banks shouldn't be able to block a struggling mortgage holder from going into an insolvency process.

Fianna Fáil's Michael McGrath says the final decision should be made by a court instead - and Michael Noonan says that change is likely:



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