Insolvencies

1-15 of 17 Articles
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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

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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

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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

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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

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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.

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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)

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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

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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.

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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

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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

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