Personal Insolvency

insolvency

Our office possesses a growing body of knowledge and experience in relation to the new area of personal insolvency particularly related to the Personal Insolvency Act 2012 and the law relating to bankruptcies. In particular our practice focuses on advices to personal insolvency practitioners in assisting them on ongoing compliance matters within the personal insolvency regime. Each of the solicitors in this area has completed the Law Society’s Personal Insolvency Certificate and maintains knowledge to the highest standards. We also advise in relation to the regulation of debt management businesses. Our services in this area would include:

Ongoing advice to personal insolvency practitioners relating to authorisation requirements, liability issues and management of personal insolvency schemes;

  • Advice in relation to specific issues in connection with putting forward debt settlement arrangements and personal insolvency arrangements;
  • Advice to practitioners regarding management of negative equity and re-structuring arrangements with financial institutions and dealing with claw back provisions under the Personal Insolvency Act 2012;
  • Advising practitioners relating to the interaction between the personal insolvency regime and the bankruptcy regime and the relevant merits between each.

For more information please contact Colm Kelly and Margaret Sheehan.