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Personal Insolvency Arrangement allowing a couple to write off more than €6m of their debts.

Published: 24 Sep, 2019
Author: Ritika
Read Time: < 1 min

A Personal Insolvency Arrangement can offer a lifeline to those overwhelmed by debt. Learn how one couple kept their home while resolving millions in liabilities—thanks to expert legal support and court approval.

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Personal Insolvency Arrangement

Gibson & Associates Solicitors acted in a case that resulted in the High Court writing off the debts of a retired Garda, and his wife Jean Errity, a civil engineer. The couple had debts including €6.1m owed to Ulster Bank, €419,000 to Permanent TSB, €150,000 to a building company called MOF Construction Ltd, and €160,000 to Pepper Finance.

As part of the agreement, the couple will keep their home and continue to make mortgage repayments on the property. To fund the personal insolvency agreement, the couple will have to sell off two investment properties. Other family members are contributing €40,000 towards the debt. The court was asked to approve the agreement as the couple’s creditors would not be better off if the couple filed bankruptcy.

Gibson & Associates litigation team acted on behalf of the couple, this is the firms’ second recent success in a similar litigation case. Financial institutions that were creditors to the couple argued against the agreement, but the Judge claimed that a bankruptcy situation would not benefit the lenders.

Read more about the case in the media

The Irish Times

Independent.ie 

Author

  • Ritika Tiwari is a Digital Marketing Executive based in Dublin with over four years of experience in digital marketing, branding, and social media strategy. She began exploring the marketing industry at the age of 17 and has since developed expertise in content creation, social media campaigns, lead generation, and digital storytelling.

Litigation FAQ's

Why would you need a Litigation Solicitor?

Disagreements and disputes are a part of life, but when you are unable to resolve them on your own, you may need the help of a litigation solicitor. Situations where you might need legal advice are:

  • Personal Injuries
  • Breach of Contract Disputes
  • Boundary Disagreements
  • Family Issues
  • Professional Negligence & Defamation

What do Litigation Solicitors do?

To help resolve a dispute, a solicitor often needs time to;

  • Explore the facts and figures
  • Undertake Research
  • Obtain Documentation
  • Test the strength of each side’s legal case.

If the opposing side is unwilling to settle on terms the client will accept, the only option might be to take the matter to court to be heard by a judge.

Litigation solicitors will:

  1. Manage disclosure & drafting witness statements
  2. Compile all the paperwork required by the courts throughout proceedings, from pre-trial preparation to delivery of a judgment.

What are the three Dispute Resolutions?

Sometimes disputes can be resolved without the expense and time of going to court. There are three methods commonly used to resolve disputes: negotiation, mediation, and arbitration.

Are Disputes & Litigation not the same thing?

Litigation and disputes are quite similar in meaning

Disputes can be resolved through informal negotiations, discussions, or alternative dispute resolution methods like mediation or arbitration, without involving the formal legal process.

Litigation is a specific legal process that arises when parties involved in a dispute cannot resolve their issues through negotiation or alternative methods and must take their matter to court.

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Very helpful and always on hand to help, from my first email I was very impressed with the level of service provided, Jessica and Sinead where always very helpful and kept me updated on progress, I would definitely have no hesitation in recommending Gibson & Associates to Family and Friends.
Anthony Kimmins

Highly recommend Gibson & Associates. Professional, helpful, friendly staff. Jessica is a pleasure to deal with. Thanks for everything. Rachel Mulrooney

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The company was alway responsive throughout the process and clear with regard to the guidance they provided me. The staff was knowledgeable and courteous.
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