The High Court has approved a personal insolvency arrangement for a Waterford couple, blocking an attempt by the investment fund which acquired their mortgage to repossess the family home.
Shoreline Residential, an affiliate of vulture fund Lone Star, had vetoed an insolvency arrangement presented at a creditors’ meeting and was seeking to repossess the couple’s home. That action was stayed pending an application to the High Court to approve the insolvency arrangement over Shoreline’s objections.
In the High Court, sitting on the South Eastern Circuit in Waterford, Ms Justice Baker granted the application and ruled the insolvency arrangement should be implemented as originally conceived.
The Personal Insolvency Arrangement (PIA) in…
Read the full article at: https://www.rte.ie/news/business/2017/1101/916829-vulture-fund/
