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Debtor had failed to disclose material facts in application for protective certificate
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High Courts grants order that a protective certificate granted to a debtor under the personal insolvency legislation should not apply to a creditor with a €203K judgment mortgage over the debtor's principal private residence, on the grounds that: a) the creditor had suffered irreparable loss in that the protective certificate was issue within the statutory three months after registration of the judgment mortgage; and b) the debtor had failed to disclose material facts in his application for a protective certificate, including other charges over the property and an alleged family loan agreement.
Personal insolvency - issue of protective certificate - s. 95(6) of the Personal Insolvency Acts 2012 – 2015 - notice of objection by creditor - financial institution - irreparable loss allegedly suffered by creditor - whether procedural requirements complied with - material non-diclosure - interest of debtor in principal private residence - judgment entered by creditor in sum of €203,983 - registration of judgment mortgage - registration less than three months prior to issue of protective certificate - therefore not a "secured creditor" under legislation - effect of non-disclosure - failure to disclose charges and family loan agreement.
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