A personal insolvency arrangement (PIA) allowing a Co Meath couple to write off over 2.65m of debt owed to mainly financial funds has been approved by the High Court.
Under the terms of the arrangement Thomas and Valerie Johnson will be able to retain their family home at Liscannor Lodge, Drumree Road, Dunshaughlin Co Meath.
The couple’s creditors included Everyday Fianance, Mars Capital Ireland, Cabot Fianancial, and Belgard and Co.
Under the terms of the PIA, which is 12 months in duration, the couple’s mortgage on their family home will be restructured, with a lump sum payment of 200,000 and extended.
They will also make a payment of 1,500 towards their unsecured debts.
The couple entered the insolvency process after becoming insol…
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