However, the court heard secured creditor Pepper Finance Corporation, whose €1.9 million debt arises primarily out of the mortgage, was withdrawing its objection to the PIAs on agreement that the plans will be altered within six weeks.
It was taking a neutral position on the application in circumstances where the couple’s personal insolvency practitioner has given an undertaking that the PIAs will be varied within six weeks, he said. Proceeding to make the application, Mr Farry said creditors overall fared better under the insolvency deals than if the husband and wife were to be adjudicated as bankrupts.
But if you owed 50k they’d take your house. Absolutely rotten to the core
The system is rotten
Wow… f……. wow
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