High Court reporters
Two separate and unrelated insolvency arrangements allowing two debtors to write-off over 12 million owed to financial funds have been approved by the High Court.
The court approved a Debt Settlement Arrangement (DSA) to company director, 63-year-old Mark Quinn, which will see 8.9 million of debt owed to financial fund Everyday Finance DAC written off.
As part of that arrangement, which is to be 12 months in duration, he will make a lump sum payment of over 50,000 to his creditors.
He sought to enter into the arrangement due to difficulties in repaying loans to acquire property that were taken out years ago and were subsequently acquired by Everyday Finance.
His proposal was put together by Personal Insolvency Practi…
Read the full article at: https://www.echolive.ie/nationalnews/arid-41394358.html