More with Irish addresses seeking bankruptcy in England and Wales

Monday 27 May 2013 19.14
There has been a rise in people with Irish addresses applying for bankruptcy in England and Wales
There has been a rise in people with Irish addresses applying for bankruptcy in England and Wales

Figures from Britain's Insolvency Service show a significant rise in the number of people with Irish addresses applying for bankruptcy in either England or Wales.

Last year there were 110 cases of individuals who either had an address in the Republic or had moved from Ireland to go bankrupt.

Between 2006 and 2009, an average of ten people a year who included an Irish address among their details went bankrupt in England or Wales. There were 75 cases alone last year.

Some of these people may have been living in the UK before applying.

Separate data is kept on individuals who have moved to Britain specifically to avail of bankruptcy.

That shows the number of those cases rose from 13 in 2011 to 35 last year.

The standard bankruptcy term in England and Wales lasts a year.

In Ireland, the term was 12 years before being reduced to three as part of an overhaul of Irish insolvency legislation late last year.

The information was disclosed to Fianna Fáil Finance Spokesman Michael McGrath.

Mr McGrath said it remained to be seen if the reduced term would stem the tide of individuals seeking year-long bankruptcies in Britain.