There was a 70% increase in the number of permanent solutions agreed through the Insolvency Service of Ireland last year.
The ISI said the recent removal of the banks’ veto over proposed arrangements involving debtors’ homes has already resulted in financial institutions reversing some of their own rejection decisions.
Lenders overturned four out of 12 rejection decisions which were appealed last month.
There were 1,700 permanent solutions for debtors agreed last year, a 70% increase on 2014.
This included 479 bankruptcies and 641 Personal Insolvency Arrangements (PIA), which can include mortgage debt and aims to keep debtors in their homes.
In the final quarter of las…
Read the full article at: http://www.rte.ie/news/2016/0120/761544-insolvency-service-report/