The High Court has approved a personal insolvency arrangement (PIA) that will allow a 52-year-old man write off approximately 1.38 million in debt owed to a financial fund.
Under the terms of the arrangement, Alan Jenkins, who had debts of approximately 2.5 million, will see that sum reduced to zero after he agreed to surrender 10 properties he owns to his secured creditor Havbell DAC.
The properties are located mainly in various towns in the midlands, and in Dublin. The 10 properties will be sold off, with the proceeds going towards reducing his debt to the financial fund.
It is estimated that the sale of the properties, along with other terms of the PIA, will reduce the amount owed by Mr Jenkins by approximately 1.2 million.
Rented ac…
Read the full article at: https://www.irishtimes.com/business/commercial-property/landlord-hands-over-10-properties-in-insolvency-deal-1.4673865
