The High Court has approved Personal Insolvency Arrangements allowing a separated couple to write off over 2.8m of debts owed.
Mr Justice Alexander Owens on Monday approved PIAs for Bernadette Canning of Monknewtown, Slane, Co Meath and Graham Canning of Ledwidge Hall, Slane Co Meath.
The court heard that couple got into financial difficulties after businesses they had obtained loans from Bank of Ireland for in the early 2000’s failed.
The then couple, who are both aged in their mid-fifties, have four children had given personal guarantees in respect of the loans.
In total the Cannings had debts of some 3.2m, mainly to BOI, 2.8m of which was unsecured.
Arising out of their debts they entered into the personal insolvency process.
Mr Can…
Read the full article at: https://www.rte.ie/news/business/2023/0123/1350372-court-allows-separated-couple-write-off-2-8m-of-debts/