‘Landmark’ ruling forces Start into debt equity deal

A 67-year-old Co Meath widower has become the first distressed borrower to secure a court approved debt for equity swap designed to keep him in his home.

The Circuit Court decision, the first of its kind, is being hailed by the Insolvency Service of Ireland (ISI) as a “landmark” ruling, paving the way for dozens of other similar cases in the system.

Under the terms of the personal insolvency arrangement (PIA) approved last ...