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Debt settlement arrangement sees company director write off €8.9m for €50k
Summary
The High Court approved a debt settlement arrangement (DSA) for 63‑year‑old Mark Quinn, allowing him to write off €8.9 million owed to Everyday Finance DAC in exchange for a lump‑sum payment of just over €50 000. The DSA will run for 12 months, during which Quinn will continue to live with his partner at Laurence Grove, Clontarf, Dublin 3, and work for an advertising company. The arrangement was drafted by Personal Insolvency Practitioner Eugene McDarby and presented to the court by Keith Farry BL, who argued that the DSA would be more favourable to the creditor than a bankruptcy proceeding. The court found no objections and approved the DSA, which is intended to restore Quinn to solvency.
Who, what, where, when and why
What: Report matter: Debt settlement arrangement sees company director write off €8.9m for €50k. Procedural stage: hearing_or_decision
When:
- 2024-05-13 Publication
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