High Court allows appeal against a refusal in the Circuit Court of a proposed personal insolvency arrangement, on the grounds that the debtor satisfies the statutory criteria in that she is reasonably likely to be able to comply with the terms of the proposed arrangement, and there is a reasonable prospect that confirmation of the proposed arrangement will enable the debtor to resolve her indebtedness without recourse to bankruptcy.
Personal insolvency - appeal by debtor against the refusal of the Circuit Court of an application by the debtor’s personal insolvency practitioner - objecting creditor - whether proposed PIA satisfies the statutory requirement that the debtor will be reasonably likely to be able to comply with the terms of the proposed Arrangement - whether proposed PIA satisfies the requirement that the debtor will be able to resolve her indebtedness without recourse to bankruptcy - whether debtor failed to disclose shareholding in a company.