Concerns over constitutional property rights are hampering efforts to enhance the ability of the State’s personal insolvency regime to benefit indebted farmers.
lthough the regime has predominantly been associated with keeping debtors in their family home, the mechanism has been used in a number of landmark cases involving farms in recent times.
Calls have been made to enhance the protections offered by a personal insolvency arrangement (PIA) with regard to debt that is not attached to a principal private residence.
In a debate last week on an amendment to PIA legislation, Fianna Fil Senator Robbie Gallagher highlighted that cases where there may be no debt attached to someone’s principal private residence, but there is a debt attac…
Read the full article at: https://www.independent.ie/business/farming/news/farming-news/property-rights-concerns-limiting-value-ofpersonal-insolvency-deals-for-farmers-40227976.html
