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Deloitte's latest Insolvency & Restructuring Statistics reveal 214 corporate insolvencies during the first three months of the year, up from 146 cases during the first quarter of 2023

Corporate insolvencies jump by 47% in first quarter

New figures from Deloitte Ireland show that the number of corporate insolvencies jumped by 47% in the first quarter of 2024 compared to the same time last year and could reach a total of 800 by the end of the year.

Business • 27 Mar 24

Financial Services companies accounted for 36% of insolvencies recorded within the 'service sector'

663 corporate insolvencies in 2023 - Deloitte Ireland

Over 660 corporate insolvencies were recorded in Ireland in 2023, according to the latest Insolvency & Restructuring Statistics compiled by Deloitte Ireland, a 25% increase on the previous year.

Business • 04 Jan 24

Business failures still remain relatively low but are expected to rise further as Revenue's Tax Warehousing deadline approaches

54% increase in business insolvencies in H1 2023

There was a sharp rise in insolvencies in the first half of this year when compared to the same period of 2022, according to analysis by PwC.

Business • 30 Jun 23

Over 350 companies have declared insolvency so far this year

Cost of business failures set to hit €2bn in 2022 - PwC

The direct economic damage of business failures in Ireland is expected to be in excess of €2 billion for the year ended 2022.

Business • 03 Oct 22

Level Europe has six Airbus short-haul jets and is part of IAG-owned Vueling Group

IAG airline Level Europe files for insolvency

Austrian short-haul budget carrier Level Europe said today it plans to file for insolvency, becoming the latest airline casualty of the coronavirus crisis despite the financial might of parent IAG.

News • 18 Jun 20

439 businesses became insolvent during the three-month period

Business failures fall further in third quarter

Corporate insolvencies fell by a fifth between July and the end of September when compared to the same period last year.

Business • 08 Nov 19

Shoreline Residential had been seeking to repossess the couple's Waterford home

Waterford couple wins court victory over vulture fund

The High Court has approved a personal insolvency arrangement for a Waterford couple, blocking an attempt by the investment fund which acquired their mortgage to repossess the family home.

Business • 01 Nov 17

In reaching a decision the court will take into account a series of factors

Court review for rejected insolvency proposals

Minister for Justice Frances Fitzgerald has signed an order that introduces a court review where a mortgage lender rejects a borrower’s personal insolvency proposal.

Business • 20 Nov 15

Banks agreed to write off an average of 16% of secured debt in personal insolvency arrangements made to date

66% of debt written off in average bankruptcy

Banks wrote off an average of 66% worth of secured debt following a bankruptcy, according to a sample of 50 cases taken in the past year.

Business • 29 Jan 15

David Hall claimed that only 1,000 insolvency deals have been agreed to date

'Pathetic' number of insolvency deals so far

The Irish Mortgage Holders Association has said the small number of arrangements put in place by the Insolvency Service of Ireland is a “pathetic attempt” to deal with the problem.

Business • 12 Jan 15

Finance Minister Michael Noonan admits the rules around Personal Insolvency have to be tweaked

Government may sell AIB shares next year - Noonan

The Government may be in a position to consider selling its shares in AIB next year, the Finance Minister has told the Dáil.

Business • 03 Dec 14

David Hall said the process is a real game changer for debtors

Agreement to speed up some insolvencies welcomed

The Insolvency Service of Ireland has welcomed an agreement by AIB and KBC Bank which will allow some insolvent mortgage holders to become debt-free in as little as three months.

News • 04 Jun 14

The number of people securing agreements is doubling monthly

100 declared bankrupt under new scheme

The head of the Insolvency Service of Ireland has said 100 people have been made bankrupt under the new three-year bankruptcy regime.

Business • 21 May 14

There were 303 insolvencies between January and March down from 347 in the same period last year

Fewer insolvencies during first quarter

Fewer companies went bust over the first quarter of the year than in the same period in 2013 according to analysis by accounting firm Kavanagh Fennell.

Business • 09 Apr 14

The total amount of debt involved was €600,000

Family with mortgage debt agrees insolvency deal

The first insolvency deal involving a family with mortgage borrowings was approved by creditors at a meeting today.

News • 24 Jan 14

The Insolvency Service of Ireland has authorised its 100th personal insolvency practitioner

Efforts to establish new protocol for debt deals

The Insolvency Service of Ireland is to hold a conference next month in an effort to establish a new protocol to streamline the operation of debt deals.

Business • 10 Jan 14

Alan Shatter is due to sign in a new bankruptcy law

New bankruptcy law comes into effect

A new law on bankruptcy has come into effect, after Minister for Justice Alan Shatter signed an order to introduce the measure.

News • 03 Dec 13

First insolvency case involving mortgage borrowings before the courts

Insolvency case over mortgage debt before court

The first insolvency case involving a family with mortgage borrowings has come before the courts under the new system established to tackle Ireland's personal debt crisis.

News • 27 Nov 13

Creditors had agreed in principle to arrangements in the majority of the initial cases

20 insolvency cases submitted by practitioner

Personal insolvency practitioner Grant Thornton Debt Solutions has said it has submitted its first 20 cases to the Insolvency Service of Ireland.

Business • 26 Nov 13

A Donegal man was granted protection from his creditors for 70 days in Monaghan Circuit Court yesterday

Welcome for first case in new insolvency regime

A senior figure in New Beginning has described as a "milestone" the first case in which a debtor has secured court protection of his assets under the state's new personal insolvency regime.

Business • 22 Oct 13

The 'official assignee' of the Insolvency Service could sell the home if a spouse cannot buy the bankrupt individual's share

Spouse of bankrupts must buy share to secure home

The State-appointed official in charge of the country's new insolvency regime has said the spouse of a bankrupt individual may need to buy their partner's share of the family home in order to remain in the property.

Business • 06 Sep 13

There has been a rise in people with Irish addresses applying for bankruptcy in England and Wales

More with Irish addresses seeking bankruptcy in UK

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.

News • 27 May 13

Critics say the VAT rate will make the insolvency process more expensive

Insolvency practitioners' VAT rate set at 23%

The Insolvency Service of Ireland has confirmed that a VAT rate of 23% will be applied to the fees paid to insolvency practitioners.

News • 02 May 13

Michael McGrath said speculation about what was in the guidelines was worrying people

Call to publish insolvency guidelines immediately

Fianna Fáil's finance spokesperson Michael McGrath has called for the immediate publication of the new insolvency guidelines.

News • 01 Apr 13

Leo Varadkar said the Irish Examiner headline did not reflect his views

Kenny - No onus to quit jobs over insolvency rules

Taoiseach Enda Kenny has reiterated that no guidelines contained in the Personal Insolvency Arrangements would require any man or woman, to give up work.

News • 28 Mar 13