Insolvencies

The High Court has criticised a personal insolvency practitioner for providing misleading information to creditors in a proposal which would have written off most of a €13 million debt. The court said that the PIP had “fallen well below the appropriate ethical standards” expected of

The High Court has refused an appeal for a personal insolvency arrangement (PIA) after it was held that the debtor’s income had not been “assessed and verified by the PIP in such a manner as would give confidence as to its accuracy”. The court held that the PIA left “no room

Mortgage lenders have too much control over outcomes under resolution processes introduced since the global financial crisis, legal rights group FLAC has said. In the second of a series of four papers, FLAC examines the difficult question of family home mortgage arrears, a problem that continues to

Legislation extending the right to a court review to all borrowers falling into home mortgage arrears due to an unforeseeable loss of income has come into effect. The Personal Insolvency (Amendment) Act 2021, commenced with effect from 25 June 2021, makes a number of urgent changes to the Personal I

Borrowers falling into home mortgage arrears due to an unforeseeable loss of income will gain court protection under new legislation which has cleared the Oireachtas. The Personal Insolvency (Amendment) Bill 2020, which will now be signed into law, gives insolvent homeowners the right to seek review

The High Court has approved a personal insolvency arrangement which would allow a woman to repay her mortgage until the age of 90. The decision came following an appeal from the Circuit Court, in which the judge was concerned that the PIA would leave the debtor in a precarious position at the end of

The High Court has approved a personal insolvency arrangement (PIA) that will see a 54-year-old woman continue to make mortgage repayments on her family home until she is 90 years of age. Mr Justice Mark Sanfey approved the PIA in respect of Esther Kirwan from Moycarkey, Thurles, Co Tipperary, in wh

The High Court has ruled that an insolvent debtor was not entitled to a new protective certificate under the Personal Insolvency Acts 2012-2015 after he had benefitted from an invalid protective certificate within the previous 12 months. It was claimed by the debtor that the impugned certificate was

Fees for personal insolvency applications will continue to be waived until at least the end of 2023, Justice Minister Helen McEntee has announced. The waiver of all fees payable to the Insolvency Service of Ireland and to the courts was first introduced in 2014 and previously extended in 2017.

Borrowers falling into home mortgage arrears due to an unforeseeable loss of income will gain "vital court protection" under new legislation announced today. Justice Minister Helen McEntee has secured government approval for priority drafting of the "short but urgent" Personal Insolvency (Amendment)

Jacci Fox, head of the debt and asset recovery unit at HOMS Solicitors, examines what is required for a debtor to succeed in dismissal of bankruptcy summons. We recently acted in a rather protracted bankruptcy case on behalf of the Collector General of the Revenue Commissioners. The debtor in this c

An ongoing review of Ireland's personal insolvency laws will now take into account the "significant economic effects" of the COVID-19 outbreak, Justice Minister Charlie Flanagan has said. Officials in the Department of Justice are currently working to complete the major statutory review of Part 3 of

The Irish Society of Insolvency Practitioners (ISIP) has called for changes to company law to support firms through the coronavirus pandemic. Chairman Des Gibney, writing to Business Minister Heather Humphreys, said the 100-day deadline for examiners should be extended, The Irish Times reports.

Ireland should follow the UK in relaxing insolvency laws during the coronavirus pandemic to give companies "the best chance of survival", lawyers have said. John Given, corporate partner at Dublin-based Philip Lee, said businesses should not be penalised for continuing to trade while insolvent "in t

The UK's wrongful trading law will be suspended to allow businesses to "weather the storm" of the coronavirus pandemic, Alok Sharma, the UK business secretary, has announced. The change, backdated to apply from 1 March 2020, will allow directors of companies to pay staff and suppliers even if the co