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Personal Insolvency Bill: Report Stage (Resumed)

Vote from 07/11/2012

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Amendment no 109: Proposed by Deputy Niall Collins:

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Background information

Amendment no 109: Proposed by Deputy Niall Collins:
'This concerns the old chestnut of the banks wielding undue influence in voting power at a creditors’ meeting. It is right and proper that we should seek to lessen the influence of overly dominant creditors with a consequential weighted vote that an organisation may have at such a meeting. It would be right to reduce it to a simple majority in order to lessen the impact of a particular creditor. The amendment would reduce the voting value in question from 65% to 50%.'

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