Today, Mr Justice Alexander Owens approved a DSA allowing Co Louth-based chartered accountant Brian Carrig to write off over €5m in debts for a payment of approximately €15,000.
The arrangement is to be funded by a lump payment of €20,000, which is to go towards his creditors and as payment to the PIP.Mr Carrig's creditors included Everyday Finance, Cabot Finance as well as a trade creditor, the court heard. As a result of there being no objections to the proposal, counsel said there was nothing preventing the court from approving the DSA.
That firm had gone into liquidation as a result of the Covid-19 pandemic, with the effect of leaving Mr Hoban in financial difficulties, counsel added. In the third case to come before the court today, Mr Justice Owens approved an arrangement allowing a company's IT director to write off €2.2m of debt for a payment of approximately €70,000 to his unsecured creditors.