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Court of Appeal, on appeal from the judgment and order of the High Court confirming the coming into effect of a proposed Personal Insolvency Arrangement, refuses the appellant creditor's appeal, which was advanced primarily on the basis that the High Court ought to have refused the order sought by the practitioner, on the grounds, inter alia, that the debtor, by giving a first legal charge over certain property to his solicitor as security for payment of legal fees owed, had given a “preference” for the purposes of the legislation, to the detriment of the creditor.
Appeal of High Court order confirming the coming into effect of a proposed Personal Insolvency Arrangement - PIA proposed by practitioner on behalf of debtor - application by practitioner opposed by creditor - first ground of opposition on basis debtor had given a "preference" - by giving a first legal charge over certain property to his solicitor as security for payment of legal fees owed - second confirmation of PIA constituted “unfair prejudice” against creditor - third was aggregate of debts of Debtor which were secured was not less than €3M - s. 115A (9) of the Personal Insolvency Acts 2012 - 2021 - HC trial judge considered term "preference" - issue of "unfair prejudice" - court ultimately dismisses appeal.
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