Bankruptcy / Personal Insolvency

We are experts in Insolvency Law and our firm regularly acts in cases before the courts in the area of bankruptcy and personal insolvency.  

When a person is adjudicated bankrupt, all their assets are vested in the Official Assignee. The Official Assignee is a court appointed individual who gathers in and liquidates the bankrupt’s assets and pays creditors in order of priority according to the rules set out in the Bankruptcy Act, 1988 (as amended).

Our Solicitors are available to advise clients on all aspects of the bankruptcy process and whether the process is available in respect of a particular debt. 

Personal Insolvency
The Personal Insolvency Act 2012 (as amended) introduced several alternatives for debtors to deal with their debts without being adjudicated a bankrupt. These include Personal Insolvency Arrangements (“PIAs”), Debt Settlement Arrangements and Debt Relief Notices.

PIAs are very popular and are being availed of more and more by insolvent debtors.  If a PIA is entered into, a debtor can make payments towards certain specified debts over a number of years with certain remaining debts being written off at the end of the process.

A PIA can be beneficial to both debtor and creditor.  The debtor gets a clean slate after the period of the PIA has run its course, and the creditor may also be paid more than they would if the debtor had been adjudicated a bankrupt. 

However, there are circumstances where a creditor will be best served by objecting to a proposal for a PIA. We regularly act for creditors in resisting applications for PIAs and our Solicitors are available to advise in any case in which a PIA is being sought by a debtor.

Debtor Information
If you owe money and believe you may be insolvent, you should visit our Debtor Information page for information on the options available to you. 

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