Marian Phillips gets insolvency plan for €2.4m debts

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

Marian Phillips had a personal insolvency arrangement approved by the High Court on 26 February 2024, allowing her to address €2.4 million in debt.

The arrangement allows Phillips to remain in her Cork home. Four buy-to-let properties, three in Cork and one in Clonmel, are to be sold for secured creditors; the remaining debts are to be written off. The arrangement also provides for a state-approved mortgage-to-rent and social tenancy arrangement for her home.

The plan is due to run for 24 months. The report said Phillips’s financial difficulties arose from high interest rates on loans.