Most of the deals were personal insolvency arrangements (PIAs). Last month a High Court judge has reserved judgment in a personal insolvency application by musician Frank McNamara and his barrister wife Theresa Lowe. The Insolvency Service said there was a fall in the numbers opting to be declared bankrupt, where control of a person’s finances is handed to a court-appointed official assignee. The total debt involved in bankruptcy adjudications in the first quarter was €91m, the Insolvency Service of Ireland said. A protective certificate is issued by the court and gives a personal insolvency practitioner 70 days to develop an arrangement.
Source: Irish Independent June 12, 2019 11:47 UTC