Promontoria gets extension over Clarkson €70m debt write-off

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

Promontoria (Arrow) Ltd secured more time to object to Conor Clarkson’s proposed personal insolvency arrangement in the High Court on 25 March 2019. The arrangement would write off more than €70m in debts, with Promontoria saying it was owed €64m.

Promontoria said a case handler had misunderstood the filing deadline. Keith Ferrie, for Clarkson’s personal insolvency practitioner, said his side did not oppose an extension but considered the fund’s explanation unsatisfactory.

Mr Justice Denis McDonald granted the extension, noting the practitioner’s prudent attitude. The judge said there was no automatic entitlement and criticised the fund’s broad explanation. The proposed arrangement remained before the court.