Banks must play fair with insolvency rules

5th November, 2017
Lorcan O’Connor, the head of the Insolvency Service of Ireland

One of the responses to Ireland’s economic calamity was the overhaul of the state’s insolvency regime. Bankruptcy in Ireland was draconian, with those few who were declared bankrupt subject to a punitive and punishing regime.

The new system slashed the length of time a person would be bankrupt and brought in arrangements such as debt settlement arrangements and personal insolvency arrangements.

The intended aim of the new suite of packages was...

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