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//Changes to bankruptcy laws

Changes to bankruptcy laws

The Civil Law (Miscellaneous Provisions) Act 2011 makes changes to the bankruptcy laws. The most fundamental of those provisions came into force on 10 October 2011. There is a reduction of the application period to the court for discharge from bankruptcy from 12 years to 5 years. There has never been automatic discharge of bankrupts in Irish law and now the automatic discharge of bankruptcies on the 12th anniversary of the bankruptcy adjudication order has been introduced. These changes are anticipated to be the first steps in the modernisation and overhaul of the bankruptcy laws in Ireland. Further changes are anticipated and are set out in the Personal Insolvency bill which has recently been published.
 

2016-06-08T11:18:44+01:00August 7th, 2012|Latest News|
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