The bursting of the property bubble in 2007-08 in Ireland precipitated a debt crisis more severe than experienced anywhere else in the western world since the great depression of 1930-32 in the US. National output (GNP) declined by 25%, unemployment soared to 15% and emigration…
On December 3rd, 2013 The Minister for Justice, Equality and Defence, Alan Shatter signed an order to introduce a suite of bankruptcy reforms. Introducing the new reforms the Minister stated that “these measures complete the reform of our personal insolvency and bankruptcy legislation through the…
RTÉ News – 3rd Dec 2013 – A new law on bankruptcy has come into effect after Minister for Justice Alan Shatter signed an order to introduce the measure. Under the law a person can be automatically discharged from bankruptcy after three years, as opposed…
The Minister for Justice, Equality and Defence, Alan Shatter also drew attention to the Companies (Miscellaneous Provisions) Bill 2013, currently before the Dáil, which will introduce improvements to the operation of the new Debt Relief Notice insolvency process and also allow for a reduction in…
There has been an avalanche of publicity around the Personal Insolvency Act 2012 and the opportunity it affords insolvent individuals to get back to a solvent state through the use of the various arrangements contained in it. The mission behind the legislation is to restore…
The role of the Personal Insolvency Practitioner is central to the practice and procedure under the Personal Insolvency Act, 2012. It is provided in Chapter 2 of the legislation that a debtor who wishes to become a party to a Debt Settlement Arrangement (DSA) or…