Tuesday January 21, 2020

Insolvency service to pursue strategic defaulters, says chief

The government’s new insolvency service will pursue and prosecute borrowers fraudulently seeking debt forgiveness, said Lorcan O’Connor, head of the new agency.

14th May, 2013
Lorcan O’Connor (right), head of the new Insolvency Service of Ireland, with justice minister Alan Shatter, at the agency's launch last month.

The government’s new insolvency service will pursue and prosecute borrowers fraudulently seeking debt forgiveness, said Lorcan O’Connor, head of the new agency.

Borrowers who lie about their finances face fines of as much as €100,000 or as long as five years in prison, according to laws which created the Insolvency Service of Ireland, known as the ISI, last month.

“There is anecdotal evidence that in some cases people have been either...

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