Michael McGrath, Fianna Fáil’s finance spokesperson, has introduced legislation that will give borrowers the right to appeal a banks veto over a Personal Insolvency Arrangement.
Fianna Fáils Personal Insolvency (Amendment) Bill 2017 has been drafted in response to a September decision from the Circuit Court that decided that the borrower has no such legal authority.
The same decision was arrived at by the High Court in a similar case.
Deputy McGrath says the situation is “entirely unfair.”
He said: “The result of recent Court decisions is that the independent Personal Insolvency Practitioner (PIP) must now bear responsibility for appealing the rejection of a personal insolvency application. This clearly was not the intention of the 2015…
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