Courts / Tipperary / Report
Woman will make mortgage repayments until she is 90, in important test case
Summary
In a High Court decision, a Personal Insolvency Arrangement (PIA) was approved for 54‑year‑old Esther Kirwan of Moycarkey, Thurles, allowing her to continue making mortgage repayments on her family home until age 90. Kirwan, a single shop assistant living in a three‑bedroom bungalow, owes €108,000, of which €83,000 is to Start Mortgages for a €145,000‑valued home, with the remainder to AIB and Revenue. Under the PIA, her mortgage is restructured and she will pay €214 monthly for 420 months to cover interest. The loan remains unchanged and is payable at the end of the term or upon her death, whichever comes first. The arrangement was supported by Start and had no creditor opposition, and the High Court upheld it after a Circuit Court refusal, citing the lack of a viable alternative for Kirwan. The judge highlighted that the PIA was a test case for extending mortgage terms in insolvency proceedings.
Who, what, where, when and why
What: Report matter: Woman will make mortgage repayments until she is 90, in important test case. Procedural stage: hearing_or_decision
When:
- 2021-05-13 Publication
Why: However, last year the Circuit Court refused to approve Ms Kirwan's proposed PIA because it was uncomfortable with the possibility that Ms Kirwan might be compelled to sell her home to satisfy a mortgage debt. CNI source report
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