Thomas ‘Eddie’ Mulligan approved for over €4.4m debt write-off

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

The High Court approved a Personal Insolvency Arrangement allowing Thomas ‘Eddie’ Mulligan to write off over €4.4 million in debt. Mr Justice Alexander Owens approved the arrangement at the hearing on 27 March 2023.

Under the 13-month arrangement, the former Fianna Fáil councillor will retain his family home in Waterford and continue making mortgage payments. The mortgage is to be restructured, reducing the debt on the home from over €600,000 to approximately €425,000.

Property investments, including retail and commercial units, are to be sold to help pay what is owed on them. Mulligan will contribute just over €9,000 to creditors and in fees to fund the arrangement.

Keith Farry BL, counsel for personal insolvency practitioner Mitchell O’Brien, said Mulligan would return to solvency after completing the arrangement. There was no opposition to the application.