In a judgement last August, Mr Justice Denis McDonald said he was minded to approve the arrangement but wanted certain matters, including discrepancies in documents filed by Mr McNamara concerning his inheritance from his parent’s estate, clarified.
Mr McNamara, since seeking the PIA in 2016, has paid his share of the rental income into a solicitor’s account which monies, about €30,000, are to be used for the benefit of the creditors, the court heard. The first document did not take into account Mr McNamara was only a co-beneficiary of the will and that costs such as legal fees and donations to charities had not been taken out of the gross value of the estate, counsel said.
Under the proposed PIA arrangement, which will see the couple return to solvency, they will continue to make payments on their mortgage to Tanager.
babsbear We are a very quiet Nation accepting this disgraceful behavior in our courts....people losing their homes all over the country...and these 2..😡😡😡
I for one think they should have their home taken and have them live within there means simple as like the rest of us
A disgrace.
He probably plays a few tunes at court Christmas party. Disgraceful how we treat people with the same issues so differently
As I’m unfamiliar, davidhall75 can you explain this “personal write off of debt”? And how many people, like Frank McNamara and Theresa Lowe, in Ireland, have been entitled to the pleasure of retaining their home with such a huge debt?
Two different societies in Ireland. One for the privileged and another for the hoi poloi
Riot!
Communist in removing freedoms but capitalist with the elite. Is this what people want? China communist/capitalist. This just removes your freedoms while the wealthy carry on as usual.
And yet the banks are repossessing other people's family homes who owe a lot less than these 2. This country is seriously corrupt to the bone.
Coming soon to a late late show or Darcy near you
Those two should be thoroughly ashamed of themselves. 2.9 million. Debt. No less. The. Cheek of them
The courts had some kid up last week for stealing a €1 bottle of orange
2.9 million debt reduction. Why? If one gets it then all should get it. It stinks to high heaven guys. Meanwhile the full rigors of the law will be brought to bear on someone who might have difficulty finding 160e for a tv licence.
he should be in court for that suit
Sickening 🤬
Where in the World would you see anything like it?
A normal working family would have been evicted by now and taken to court for full payment of money out standing. It’s disgraceful one rule for the rich and another for the rest of us
Shes a barrister isnt she? Could this deal be somehow construed as 'mates rates'
Country is rotten to the core
WTAF. If that was a normal person, they'd be locked up. Why should anyone bother to pay a mortgage. It's just sickening. They should write off everyone elses mortgage.
Wouldn't happen a normal family in mortgage arrears. Preferential treatment for the rich...
Sweet deal for the elite once again
Where in the world would you get something like this.
😞👎👎👎