The High Court has approved a Personal Insolvency Arrangement that will see a 54-year-old woman continue to make mortgage repayments on her family home until she is 90 years of age.
Mr Justice Mark Sanfey approved the PIA in respect of Esther Kirwan, from Moycarkey, Thurles, Co Tipperary, in what is a regarded as an important test case in the area of personal insolvency .
The court heard that Ms 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 mortgage on 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 PIA her mortgage will be restru…
Read the full article at: https://www.rte.ie/news/courts/2021/0513/1221453-insolvency-arrangement/
