The Personal Insolvency Bill is to be published this Friday the Government have confirmed following a cabinet meeting earlier.
The Bill is a key element of the Government’s Action on Mortgage Debt. A series of other measures to help those in mortgage difficulty had also been agreed.
Following the cabinet meeting, the Taoiseach said that the strategy “will provide clarity on the policy framework for bankruptcy and debt settlement. The new regime will give a greater balance to the rights of the borrower and the lender and incentivise both parties to come to an agreed solution”.
The Taoiseach added that “there is a lot of work to be done before Friday”.
In the February issue of the Public Affairs Ireland Journal, Fergus Doorly and Marguerite Dooley outlined the details of the new Bill aimed at reforming Ireland’s bankruptcy legislation. To view this article, click here.