Bernadette and Graham Canning approved to write off €2.8m debt

This report is a localnews.ie summary based on public court reporting and records; sources are listed below.

Bernadette Canning and Graham Canning had personal insolvency arrangements approved by the High Court on 23 January 2023, allowing them to write off more than €2.8 million in debt.

Their financial difficulties followed the failure of businesses financed by Bank of Ireland loans in the early 2000s. The couple had debts of about €3.2 million, including €2.8 million unsecured.

The arrangements provide for the sale of the family home to an approved housing body, with Bernadette Canning renting it back. Six acres of forestry are also to be transferred to the bank and sold.

The arrangements run for 24 months. Counsel said creditors would fare better under them than if the couple were made bankrupt.