John Drennan: Reform of bankruptcy law and initiatives on homeowners in trouble finally to be dealt with
Plan to hit banks for the mortgage mess
Published 02/10/2011 | 05:00
THE Government is preparing a series of radical moves to make the banks take responsibility for the home mortgage crash.
The Keane Report, which will be presented to the Cabinet next week, will propose major changes to Ireland's bankruptcy laws -- which are the harshest in Europe -- and make the banks write off mortgage debt for homeowners in a similar way to writing off business debt.
The group, chaired by accountant Declan Keane, will recommend: