Personal Insolvency Bill Update

Heads of Bill

On 25 January 2012 the Irish Government published the heads of a new Personal Insolvency Bill for Ireland (the "Heads").  The Heads incorporated many of the findings and suggested strategies of earlier reports on the topic (namely the Law Reform Commission Report on Personal Debt Management and Debt Enforcement 2010 and the Inter-Departmental Mortgage Arrears Working Group Report 2011).

We previously published an update on this entitled New Personal Insolvency Legislation intended for Ireland.

Interested parties were invited to submit commentary on and suggest amendments to the Heads to help shape the final Bill.

Personal Insolvency Bill

On 29 June 2012 the Irish Government published the Personal Insolvency Bill 2012 (the "Bill"). Further amendments during the progress of the Bill through the Oireachtas are expected and it is anticipated that the legislation will be in place before the end of 2012. The Bill provides for the establishment of