In a courtroom in Cork, a narrative of financial recovery unfolded that not only changed the life of Marian Phillips, a retired shopkeeper, but also set a precedent for personal insolvency cases across Ireland. Facing the possibility of bankruptcy and the loss of her home due to crippling debt from high-interest loans, Phillips has been granted a lifeline through a Personal Insolvency Arrangement (PIA) approved by Mr Justice Alexander Owens. This legal maneuver allows her to sidestep bankruptcy and retain her residence, marking a significant victory for individuals in financial distress.
A Ray of Hope Amidst Financial Turmoil
Phillips, who found herself ensnared by debts totaling over 2m, has been given a chance to erase h…
Read the full article at: https://bnnbreaking.com/finance-nav/cork-woman-dodges-bankruptcy-secures-home-in-groundbreaking-insolvency-case