Supreme Court hears case of farmer allowed to keep land worth €1.8m despite debts of €1.1m

The case marks the first time that a personal insolvency case has been heard by the Supreme Court

The Supreme Court has agreed to hear a case relating to a farmer who was allowed to retain €1.8 million in assets despite owing €1.1 million

A case involving a Wexford farmer who was allowed to keep €1.8 million worth of agricultural assets despite having debts of €1.1 million may have ramifications outside of personal insolvency actions, the Supreme Court has heard.

The case concerns the personal insolvency arrangement (PIA) of Fergus O’Connor, a farmer of Kilmuckridge, Co Wexford.

The High Court approved O’Connor’s PIA last year after objections were raised by Promontoria (Oyster) DAC, a creditor for around €850,000. It ...