Are you burdened with debts that you fear you will never be able to pay? Do you worry about your family home and making mortgage payments? The Personal Insolvency Act 2012 was brought into Irish law to help individuals like you. This act provides solutions, one of which is a PIA (Personal Insolvency Arrangement). Personal … Read more
The Court of Appeal issued an important and interesting judgment on 12th December 2022 dealing with the issue of execution of a judgment obtained against debtors. Background The background to the case in Ulster Bank Ireland Limited and Promontoria (Oyster) DAC and Timothy Quirke and Joan Quirke was that the Quirkes had borrowed money from … Read more
The High Court recently, for the first time in Ireland, rescinded a bankruptcy order it had previously made. The case involved an Estonian businessman who filed a petition for bankruptcy in the Irish High Court in June 2021. The High Court granted the order and declared him bankrupt. However, an Estonian creditor, OBI, who had … Read more
The Supreme Court is to hear an appeal by a couple who have lost their debt claim proceedings in the High Court and the Court of Appeal. The outcome of the Supreme Court hearing could have significant consequences for all borrowers in Ireland. The significant question the Supreme Court will be answering is the meaning … Read more
The Kehoes owed Promontoria (Aran) Limited in excess of €3.2M by December 2020. They had borrowed money from Ulster Bank Ireland DAC in 2008, 2010 and 2011 and were unable to repay. In February 2015 Ulster Bank transferred all of their interest and entitlements in the loans to Promontoria (Aran) Limited. In October 2015 Promontoria … Read more