The High Court has approved a personal insolvency arrangement that will see a 54-year-old Tipperary woman continue to make mortgage repayments on her family home until she is 90.
Mr Justice Mark Sanfey approved the arrangement for Esther Kirwan, of Moycarkey, Thurles, in what is a regarded as an important test case.
The court heard that Kirwan, a single shop assistant who lives alone in a three-bedroom bungalow, has debts of 108,000. Of this 83,000 is owed to Start Mortgages in respect of her home, which is valued at 145,000. The remainder is owed to AIB for loans advanced to her former business and Revenue.
Under the terms of the personal insolvency arrangement her mortgage will be restructured. She will make monthly payments of 214