The Minister for Justice and Equality, Mr Alan Shatter, T.D., today announced that he has appointed Mr Lorcan O’Connor to be the Director-designate of the Insolvency Service of Ireland. He will take up his post on 22 October, 2012.
The salary for the position of Director-designate of the Insolvency Service of Ireland is as follows – €127,796 – €133,605 – €139,898 – €146,191
The Insolvency Service of Ireland (ISI) is a statutory body which will be set up to under the Personal Insolvency Bill . It is expected that the Report and Final Stage will be completed in the Dáil in October.
The ISI will be responsible for all matters concerning personal insolvency, both judicial and non-judicial. Its main functions will be to provide and manage the processes necessary for the efficient operation of the new non-judicial debt settlement procedures being developed under the legislation; to determine applications for debt relief under the proposed Debt Relief Certificate process; to further develop insolvency policy and legislation; to develop guidelines for insolvency procedures; to provide necessary information to both the public and practitioners; and to develop and maintain appropriate statistics in regard to insolvency.
Mr O’Connor is a Chartered Accountant and Business & Legal Studies graduate of UCD. He has almost 15 years’ experience in the area of insolvency. He is a Council member and Treasurer of the Irish Society of Insolvency Practitioners. Between 2006 and 2008 he was seconded to the Department of Transport as the Department’s Financial Adviser.
Minister Shatter said, “I am delighted that Lorcan has accepted the appointment. As Director he will be the key driver of the delivery of the reform and will be required to bring together all of the critical elements – legislative and organisational – so as to ensure coherence in the ultimate development of the Service. He brings to the position a wealth of experience that equips him ideally for the many challenges that lie ahead.”