High Court issues certificate for protection in personal insolvency case

Case was first of its kind to be dealt with in High Court

Ms Justice Baker was satisfied the aggregate of secured debts in this case was less than ¤3 million as required under the Personal Insolvency Act 2012.
Ms Justice Baker was satisfied the aggregate of secured debts in this case was less than ¤3 million as required under the Personal Insolvency Act 2012.

The first protective certificate in a High Court personal insolvency case was issued yesterday for a woman with debts of about €2.5 million, which she cannot repay.

Although such certificates protecting a debtor from bankruptcy proceedings have already been issued at Circuit Court level, the case was the first of its kind to be dealt with in the High Court.

Ms Justice Marie Baker said she was satisfied to issue the certificate, having considered the application from the new Insolvency Service of Ireland.

A protective certificate remains in force for 70 days, during which time a debtor has the opportunity to nego- tiate with creditors as to how the debt will be treated.

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The Insolvency Service made the protective certificate application after a personal insolvency practitioner, on her behalf, issued notice last October of her intention to make a personal insolvency arrangement.

Ms Justice Baker was satisfied the aggregate of secured debts in this case was less than €3 million as required under the Personal Insolvency Act 2012.

She was also satisfied the woman was not a discharged or undischarged bankrupt and her debts had not been discharged under a debt-relief notice or debt- settlement arrangement.