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ARTICLE · 14 JUNE 2013

Personal Insolvency Act 2012, A Secured Creditor’s Perspective

Dillon Eustace
Dillon Eustace
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Dillon Eustace

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The Personal Insolvency Act, 2012, which was signed into law on 26 December 2012, represents a fundamental overhaul of the personal insolvency regime in Ireland.

IrelandInsolvency/Bankruptcy/Re-Structuring
Jamie Ensor
Jamie Ensor
John O'Riordan
John O'Riordan
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The Personal Insolvency Act, 2012 (the "Act"), which was signed into law on 26 December 2012, represents a fundamental overhaul of the personal insolvency regime in Ireland. The Act reforms the current bankruptcy law, establishes three new debt resolution processes as an alternative to bankruptcy and establishes the Insolvency Service of Ireland (the "ISI") with primary function to oversee the three non-bankruptcy alternatives. Many of the elements of the Act have now come into operation, including the establishment of a number of the different operational support functions and services required to give effect to the provisions of the Act and full operation of the ISI.

The ISI has now launched its website (www.isi.gov.ie) and published helpful information leaflets on the three new non-bankruptcy alternatives which are on the website. The ISI is currently in the process of authorising and regulating the approved intermediaries and practitioners who will interface

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