A High Court judge has refused to approve proposed personal insolvency arrangements for a couple aimed at allowing their family to remain in a five-bed home, valued at €1 million in 2018, in a “gated” community outside Dublin. He was also concerned the proposed arrangements, involving monthly repayments of €3,376 over 30 years until the couple are in their late 70s, risked them encountering insolvency in future. Public interestHe concluded that the retention of their home was neither in the debtors interest or the public interest. The family would be better off, in terms of resolving their indebtedness, selling their home and acquiring a smaller one, he said. The insolvency arrangements would also see them repay a total of about €1.2 millon over 30 years, an increase of some 69 per cent on their existing liability, he noted.

Source: The Irish Times March 30, 2020 14:23 UTC