Frank McNamara and Theresa Lowe await insolvency ruling

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

Frank McNamara and Theresa Lowe awaited a High Court decision on their personal insolvency arrangements, reported on 17 January 2020. The judge said he needed time to consider whether the plan should be approved.

The proposed arrangements concerned the couple’s €3.7 million debts and would write off approximately €2.9 million while allowing them to keep their home. Tanager DAC, owed €2.26 million, opposed the plan and raised a possible €4,000 tax liability linked to €28,000 transferred between the couple’s accounts.

Counsel for the couple said the issues had been dealt with properly and should not prevent approval. The proposed plan included mortgage payments, a €100,000 lump sum and €30,000 from a life insurance policy in seven years.