Legislation to shorten the bankruptcy period to one year is set to be approved at cabinet this morning.
Ministers will also be updated on plans to save the inquiry into IBRC – but they're NOT likely to sign off on emergency laws to help it resume.
The much-anticipated changes to the bankruptcy laws were recommended by an all-party committee earlier this year, and today a memo will be brought by the justice minister Frances Fitzgerald.
She'll propose legislation to reduce the bankruptcy period to one year – bringing it into line with England and Wales – and the laws will be rushed through so that they can take effect before the New Year.
Slightly less clear is what will happen to the Cregan inquiry – set to be be discussed this morning for the first time since opposition leaders tabled THEIR ideas for how to save it.
Sources stressed that there were several issues to be overcome – and appeared to play down the prospect of ministers agreeing TODAY on what the next steps should be.
They added that there IS still a prospect of emergency laws being passed before Christmas – but that depends on a clear plan being agreed, which may not happen this morning.
