A personal insolvency arrangement (PIA) which involves writing down a 343,785 mortgage debt by more than half has been approved by the High Court for a woman who ran into mortgage arrears due to her husbands gambling problem.
Permanent TSB objected to the arrangement, insisting the proposed write down of some 343,785 to 160,000, the current agreed market value of the womans home, was draconian.
Mr Justice Denis McDonald said the woman, a public servant in her 40s with net monthly earnings of some 2,900, is separated fr…
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