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    Bankruptcy Legislation

    Bankruptcy Legislation

    As the first cases under the new insolvency regime take hold, it appears there is more light on the horizon for distressed borrowers as Minister for Justice Alan Shatter yesterday introduced new bankruptcy legislation in which a person can be automatically discharged from bankruptcy after three years as opposed to the previous 12-year term. This new bankruptcy law, which is part of the Personal Insolvency Act, aims to make bankruptcy less punitive and costly. To talk us through what bankruptcy will now mean for those affected, Sean was joined by Christopher Lehane, Official Assignee with the Insolvency Service of Ireland.


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