Friday September 25, 2020

Expert warns insolvency proposals will not be enough

The state needs more drastic measures to solve the personal debt issue, writes Emma Kennedy, Personal Finance Correspondent.

21st April, 2012
Professor Jason Kilborn: debtors 'need an incentive to be productive'. Photo: Maura Hickey

Failure to develop a proper legal structure for tackling Ireland's "pandemic of crushing debt" could act as an impediment to economic recovery, according to an international expert on insolvency.

Professor Jason Kilborn, a bankruptcy expert from the John Marshall Law School in Chicago and chair of a World Bank drafting group for a project on insolvency, said the Irish government's proposed legislation on personal insolvency "leaves a lot on the table".

He said failing to...

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