Ireland’s new insolvency legislations have not worked out as well as the state hoped. Just a fraction of the 15,000 expected to sign up for the arrangements have done so. Thousands say they simply can’t afford the costs. One Wicklow-based PIP (Personal Insolvency Practitioner), Eric Hendy, said fees for advisors could be as much as €20,000 depending on the complexity of the arrangement.
Insolvency could make you bankrupt
This could be the impetus behind the Minister for Justice’s recent and unexpected announcement that the term for bankruptcy in Ireland will be reduced from 12 to three years. Alan...
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