A personal insolvency arrangement (PIA) has been approved by the High Court which allows a separated couple to write off over 2.8 million 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 which they had obtained loans for from Bank of Ireland (BOI) in the early 2000s failed.
The then couple, who are both aged in their mid-50s, have four children and had given personal guarantees in respect of the loans.
In total the Cannings had debts of some 3.2 million, mainly to BOI, 2.8 million of which was unsecured.
Arising out of their debts the…
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