Insolvencies

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

A personal insolvency practitioner has been ordered to pay legal costs after providing misleading information about his client in the first ruling of its kind. Mr Justice Denis McDonald, sitting in the High Court, made a full costs order against practitioner Daniel Rule of McCambridge Duffy, The Iri

Northern Ireland has seen the largest increase in business insolvencies in the UK since the Brexit vote, a new report has found. The study by credit check specialist Creditsafe, reveals that the number of firms that have gone bust since the referendum has risen by 115.3 per cent on an annual basis.