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Court of Appeal allows appeal of High Court ruling that a debt be excluded from the operation of a personal insolvency arrangement entered into by the debtor after a judgment mortgage was obtained by a credit union, on the grounds that the credit union was debarred from making a challenge, and the loss of that right is an inevitable consequence of the provisions of applicable legislation and precisely what the Oireachtas intended to flow as a consequence of the issuance of a Protective Certificate.
Personal Insolvency – judgment mortgage – s. 97 of the Personal Insolvency Act 2012 – Protective Certificate to the Debtor pursuant to s. 95(6) of the Personal Insolvency Acts 2012 to 2015 – whether Baker J. was correct in her analysis of sub-section (3) – position of the Credit Union is no different from any other creditor who may claim to be in a particular situation – rationale for s. 97(3)(a) is not satisfied, namely, irreparable loss which would not otherwise occur – trial judge fell into error when she concluded that the applicant had discharged the statutory burden which is imposed on it when it seeks relief under s. 97(3)(a) of the 2012 Act – appeal allowed.
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