Dominic Hannigan (Labour)

While I am glad the threat of power cuts at Moneypoint appears to have been averted for the present, I am concerned that a matter as vital as our nation's electricity supply can be threatened by a disagreement between a German contractor and a Polish subcontractor. When the contracts were signed, penalty clauses should have been inserted to deter this type of instance from occurring.

While there is little ESB can do in the sense of getting involved in disputes between two companies, it is perhaps time an audit is carried out of all contracts that could have an impact on our electricity supply and energy security. Perhaps the Leader could pass on this request to the relevant Minister.

I am concerned by the disturbing evidence which is emerging of malpractice by solicitors in re-mortgaging their client's properties, a matter referred to by Senator O'Toole. This situation has arisen because conveyancing solicitors can give undertakings to financial institutions affirming that no loans are outstanding on their properties and that, in effect, the deeds have a clean bill of health. It is clear some solicitors are breaching their ethics and the law by seeking multiple loans on properties from financial institutions and doing God knows what with the money. I am glad the financial institutions have stated they will review their practices and loan portfolios. They need to learn lessons quickly because it is ordinary families who are losing out.

It is clear corners have been cut in this regard. Last year, one of the solicitors involved was found guilty of misconduct by the Law Society and fined €15,000, the maximum possible fine. This is a clear sign the offence was serious yet just two months ago the same solicitor received a €9 million loan from one of the banks. What is the ordinary hard-working family to think of this? Families are told to trust the lawyers, the banks and the Law Society and to be cautious how much they borrow for their mortgages. Yet, when it comes to the lawyers and banks, caution appears to be thrown to the wind. There is little scrutiny of these organisations. When things go wrong, it is ordinary families, house-owners and those who believe they own their houses who lose out.

I am concerned this is just the tip of the iceberg. A clear message must go out from the Government to these organisations: "Clean up your act or we will act".