New Court Review Process Available For Rejected Personal Insolvency Proposals

26-08-2015

Author: Cormac Kissane, Orla O’Connor, Robert Cain, William Day and John Donald



The Personal Insolvency (Amendment) Act 2015 was signed into law on 28 July 2015. The new Act will give the Irish Courts the ability to overturn a secured creditor’s decision to reject a borrower’s proposal for a Personal Insolvency Arrangement (PIA) under the Personal Insolvency Act 2012 (the 2012 Act).

The new Act follows the Government’s announcement on 13 May 2015 of a series of measures intended to further assist those in mortgage arrears. This briefing summarises the new Act and discusses its potential implications.

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