Banks will be pressed to take stakes in family homes next year in swaps for mortgage debt as part of a push to resolve some of the most distressed personal insolvency cases.
The first cases involving the use of so-called debt-for-equity swaps are expected to be decided by the courts in 2018 as the little-known measure within existing personal insolvency legislation is used to solve some of the worst mortgage arrears cases where loans have not been paid for years.
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Read the full article at: https://www.irishtimes.com/news/ireland/irish-news/push-for-banks-to-take-stake-in-homes-to-resolve-debt-cases-1.3339185