Court ruling is good news for debtors pursuing insolvency deals – Irish Examiner

A High Court ruling clarifying a provision of the Personal Insolvency Acts is good news for a large number of debtors appealing decisions that their applications for court approval of personal insolvency arrangements were made out of time.

Mr Justice Denis McDonald granted an appeal by a debtor against a Circuit Court finding last October that his application, with a view to getting approval of a personal insolvency arrangement, was not “made” within the 14 day period provided for in Section 115A (2) of the Personal Insolvency Acts 2012-2015 (the Acts).

The judge disagreed with the Circuit Court the word “made” in that context also meant “served”.

The debtor owes a total sum of around 755,000 and 60.7 per cent of his creditors had voted in…

Read the full article at: https://www.irishexaminer.com/breakingnews/business/court-ruling-is-good-news-for-debtors-pursuing-insolvency-deals-903706.html

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