High Court approves plan to write off more than €4m of salesman’s debt

Mr Langan, a single man with no dependants, established a furniture business in 1986 and had some other companies that were severely affected by the recession and wound up in 2009.

Promontoria had petitioned for Mr Langan’s bankruptcy in 2019 but, in late 2020, he secured a certificate protecting him from legal proceedings by creditors while he applied for a personal insolvency arrangement, said the judge. Promontoria accepted the solicitor has a first legal charge but claimed it was not registered on time. It claimed it held an equitable charge over the property.

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