The High Court has approved a Personal Insolvency Arrangement (PIA) that will see a property in Mountrath put on the market to help clear a mulit-million debt.
The High Court decision allows the write-off of over 3m of debt a Dublin man owes to financial institutions for a payment of just over 8,000.
Mr Justice Alexander Owens approved the PIA in respect of Patrick Reilly, aged 60, who under the terms of the agreement will put up for sale two properties in Dublin and the Laois, that he has an interest in.
The PIA will also allow Mr Reilly to retain his family home at Clanree Road, Donnycarney in Dublin 5. Under the ter…
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