Minister fo Justice publishes new Personal Insolvency Bill.
The long awaited Bill changing the Law relating to Bankruptcy and allowing people to enter into arrangments with their creditors has been published.
A major reform is the shortening of the period you must remain a bankrupt from twelve years to three years.
The lengthof time you had to remain bankrupt meant that the bankruptcy office was not a particularly busy place, despite the devastation being wrought by the dying Celtic Tiger.
The arcane law that forced people such as Ivan Yates to take up residence in England inorder to avail of their one year rule is equalled only by the requirement to be four years separated inorder to get a divorce in Ireland.the Bill is outlined in the Government's website. Access the Personal Insolvency Bill by clicking here.
Monday, 02 July 2012 17:52
Minister publishes Personal Insolvency Bill
Last modified on Monday, 02 July 2012 18:04
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