The High Court has approved personal insolvency arrangements (PIAs) allowing a separated couple who have worked in the pub and food industry to write off more than 2.8 million of debts.
Mr Justice Alexander Owens on Monday approved the arrangements for Bernadette Canning, of Monknewtown, Slane, Co Meath, and Graham Canning, of Ledwidge Hall, Slane, Co Meath.
Personal insolvency arrangements are a form of personal financial rescue that allows individuals to escape mortgage and other debt. They have been used by many people to clear significant Celtic Tiger-era debts.
The court heard the Cannings got into financial difficulties after their businesses, which had borrowed heavily from Bank of Ireland loans, failed in the 2000s.
The form…
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