Dermot King’s €16m debt write-off approved by High Court

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

Dermot King’s Personal Insolvency Arrangement was approved by the High Court on 13 November 2023, allowing him to write off over €16m in unsecured debts.

Mr Justice Alexander Owens approved the 12-month arrangement. King will retain his €1.5m family home, restructure his mortgage and continue repayments for 25 years, while property interests in Rosslare and Athy and part of adjoining land are to be sold.

The arrangement requires a €23,000 payment, with €13,000 going towards unsecured debts after fees and expenses. The proceedings were reported on 13 November 2023.