A separated Limerick couple had almost 3 million worth of debt written off for a payment of 2,000 in a personal insolvency arrangement signed off by the High Court this week.
The couple owed the bulk of the unsecured debt to Bank of Ireland arising from a failed hotel and newsagents business. They also owed an additional 257,000 secured against the family home.
Under the court-approved financial rescue, debts of 121,176 due to the Revenue Commissioners and a further 35,524 to a former supplier to their business both s…
Read the full article at: https://www.irishtimes.com/business/financial-services/separated-limerick-couple-secure-3m-debt-write-off-for-2-000-1.3841688