The Supreme Court has determined that a creditor who has not filed proof of a debt within the time prescribed by a personal insolvency practitioner is not precluded from filing an objection to the approval of a personal insolvency arrangement.
About this case:
Delivering judgment for the Supreme Court, Ms Justice Elizabeth Dunne determined: The approach taken in this case that a creditor who does prove his debt drops out of the process does not, in my view, stand up to scrutiny whether a creditor proves his debt or not, the creditor is fully bound by the process and the effects thereof once a PIA has been approved.
Background
The appellant, the respondent debtor and a third party set up a company, Ezeon Entertainment Ltd, t…
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