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High Court, on appeal from the Circuit Court, sets aside the approval of a debt settlement arrangement (DSA), which had been approved on a 'single creditor basis', on the grounds that the applicant creditors, with debts amounting to over €134,000 (inc costs) had not been given proper notice by the relevant personal insolvency practitioner, resulting in a failure to hold a creditor's meeting as required under the relevant legislation.
Personal insolvency - appeal from Circuit Court - exclusion of judgment creditors from Debt Settlement Agreement (DSA) - DSA approved on single creditor basis - debts totalling €134,651.58 excluded from DSA - bankruptcy petition - acknowledgement of debts in earlier proposals - approval of DSA - whether creditors properly served with notice of meeting - whether debtor insolvent and entitled to avail of DSA - whether DSA unfairly prejudiced interests of applicant creditors - whether exclusion of creditors' debt was in accordance with Personal Insolvency Act 2012.
Note: This is intended to be a fair and accurate report of a decision made public by a court of law. Any errors should be notified to the editor and will be dealt with accordingly.
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