The High Court has approved a Personal Insolvency Arrangement (PIA) allowing a former property developer and investor write-off approximately 170m of debt owed to parties including Nama and various financial institutions.
The PIA was made in favour of 55-year-old Barry Harte, from Timoleague, Bandon, Co. Cork, who is to provide a total of 80,000 to his creditors.
He established Harte Holdings approximately 20 years ago which specialised in property investment and development in the hospitality and residential sectors in several jurisdictions, particularly Ireland and London. The business was fuelled by loans from banks and private investors during the Celtic Tiger era.
Following the economic crash in 2008, the group’s assets went into ne…
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