Courts / Laois / Report
Bank opposes insolvency arrangement for woman who owes €600k
Summary
In a High Court hearing on 18 October 2019, the court considered an application by Ms Rebecca Forde Egan of Ballymorris Portarlington, Co. Laois, for a Personal Insolvency Arrangement (PIA) to address her debts of about €600,000. The proposed PIA would allow approximately €200,000 of that debt to be written off, with Ms Egan agreeing to repay €168,000 to the Bank of Ireland over six years while retaining her interest in the family home. The Bank of Ireland, the secured creditor holding the bulk of the debt, opposed the arrangement, arguing that it would be prejudiced and that Ms Egan's means would not allow the bank to recover the debt. The bank cited past advances to Ms Egan and her husband for property refurbishment and an uncompleted purchase in France, and noted that Mr Egan had been declared bankrupt in 2009 and discharged in 2014.
Who, what, where, when and why
What: Report matter: Bank opposes insolvency arrangement for woman who owes €600k. Procedural stage: hearing_or_decision
When:
- 2019-10-18 Publication
Case subjects
Applicant
Outcome: reserved decision
Places mentioned
Topics
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