The High Court has approved a personal insolvency deal for former Cork dentist-turned-property developer Barry Harte allowing him to escape Celtic Tiger-era debts of 170 million.
Mr Harte applied for a personal insolvency arrangement (PIA) from Mr Justice Alexander Owens through which he will write off legacy debts from his collapsed property portfolio that was worth, at peak, about 650 million.
During an application to approve the PIA, Mr Justice Owens described Mr Hartes debt as a colossal amount of money. Presenting the PIA to the court, Keith Farry BL, for Mr Harte, told Mr Justice Owens that the sums of money owing were not your average quantum of debt.
The 170 million debt write-off is the largest PIA ever approved by the court, e…
Read the full article at: https://www.irishtimes.com/business/2022/11/28/celtic-tiger-era-cork-property-developer-escapes-debts-of-170-million-in-court-deal/