The High Court hopes to make a final ruling within six weeks on an application for approval of personal insolvency arrangements (PIA) allowing musician Frank McNamara and his wife, barrister Theresa Lowe, deal with debts of €3.7 million. Mr Justice Denis McDonald said last August he was minded to approve the PIA but wanted certain matters concerning Mr McNamara’s inheritance from his parent’s estate clarified. Even if there was a tax liability due, that should not prevent the court approving the PIA, he argued. Mr McNamara (59) worked as musical director on the Late Late Show for 20 years while Ms Lowe (56) was a TV presenter before qualifying as a barrister. The money will come from a €181,000 inheritance from Mr McNamara’s parents’ estate and the sale of five acres next to their home.

Source: The Irish Times January 17, 2020 17:48 UTC