Finbarr Filan, a brother of former Westlife singer Shane Filan, and a candidate for Renua Ireland in the last general election, is seeking an insolvency deal to restructure his personal debts.
Filan, who owned a Sligo-based building company with his brother, has been issued with a protective certificate by the courts, giving him protection from legal action from creditors while he is applying for a debt settlement arrangement. The arrangement applies only to unsecured debts and must be approved at a creditors meeting by 65% of relevant creditors by value.
Any deal must be processed by the Insolvency Service of Ireland and approved by the courts, and can involve making payments to creditors…
Read the full article at: http://www.thetimes.co.uk/edition/ireland/westlife-stars-brother-seeks-insolvency-deal-68hjfbllz