Courts / Cork / Report
PIA allowing man write off €3.4m in debt is approved
Summary
The High Court approved a Personal Insolvency Arrangement (PIA) for 47‑year‑old John Maloney, a project manager in a development company, allowing him to write off over €3.4 million in debt owed mainly to Cabot Financial. Maloney had secured loans in the 2000s for various property development projects, including a nursing home and land development in County Cork, using personal guarantees. He has worked with creditors to manage debts and dispose of assets. Under the PIA, which lasts 12 months, Maloney will pay a lump sum of €35,000, of which €5,000 covers insolvency application costs, to creditors. The arrangement was presented by Personal Insolvency Practitioner John Butler, represented by Deirdre Miller BL, and the court found it preferable to bankruptcy. No objections were raised, and the PIA will enable Maloney to return to solvency upon completion.
Who, what, where, when and why
What: Report matter: PIA allowing man write off €3.4m in debt is approved. Procedural stage: hearing_or_decision
When:
- 2022-12-19 Publication
Places mentioned
Topics
Related court reports
- Gangland figure Alan Wilson gets date to appeal his own guilty plea
- Blarney Castle owner gets permission to challenge drink and dangerous driving convictions
- 'Lash him out of it': violent teen who recorded stabbing on Snapchat is jailed
- 'Lash him out of it': teen recorded stabbing on Snapchat
- Eight years for conspirator 'intimately involved' with Kinahan cartel murder plot
- Judge's illness adjourns sentencing for Kinahan Cartel murder plot
If a fact, identity, locality or legal outcome needs review, email the newsroom with this report's details prefilled.
Email a correction request