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Matt Cooper: DJ Carey debt deal may not be as favourable as it would first appear

The law recognises that where the debtor does not have the means to repay the debt, the amount can be written down, otherwise do we want to bring back 19th-century-style debtor prisons?

DJ Carey: the former Kilkenny hurler may not have borrowed wisely, but the banks were lending too much at the time. Picture: Inpho

It doesn’t look as if AIB gave DJ Carey a particularly soft deal, despite the outrage caused by reports of alleged favouritism seemingly shown to the former Kilkenny hurling star.

AIB went to the High Court in 2011 and secured a €7.5 million judgment against Carey because of his failure to pay his debts, which increased in size when he couldn’t make due payments and interest ran up. That move against him in itself did ...