High Court
Permanent TSB (PTSB) has lost an appeal against a Personal Insolvency Arrangement (PIA) which was confirmed in the Circuit Court in 2017.
PTSB had voted against the terms of the PIA, in which the Personal Insolvency Practitioner proposed that the mortgage debt be written down, and the remaining balance be treated as unsecured debt written off at the end of the PIA.
Affirming the order of the Circuit Court, Mr Justice Denis McDonaldsaid that PTSBs counterproposal was not appropriate in the circumstances and that the PIA was fair and equitable to each class of creditor.
Background
In September 2005, Lisa Parkin and her (now estranged) husband bought a ho…
Read the full article at: https://www.irishlegal.com/article/high-court-permanent-tsb-loses-appeal-against-personal-insolvency-arrangement