Personal Insolvency Arrangement approved despite objection of creditor

High Court - ex tempore ruling - application pursuant to the s.115 (a) (9) Personal Insolvency Act, 2012 (as amended) - statutory provision pursuant to which a debtor can seek to preserve his or her entitlement to remain in occupation of a family home - statutory provision allows court to limit extent of veto which creditor might have in respect of a family home or a principal private residence mortgage debt - debtor has mortgage on his family home - this constitutes a relevant debt under the legislation - mortgage is on his principal private residence - accordingly, rejection of a Personal Insolvency Arrangement by creditor does not of itself mean that Personal Insolvency Arrangement will fail - one creditor refused to accept arrangement - application brought - service on all the relevant creditors has been shown - debtor instructed Personal Insolvency Practitioner to bring this application - whether there is reasonable prospect that the debtor will resolve his or her indebtedness without recourse to bankruptcy - Court is satisfied that there is such a reasonable prospect - whether proposed arrangement will enable the debtor not to cease to occupy his family home or his principal private residence - whether mortgage is sustainable - Court satisfied that this is so - whether debtor has been seeking in the last two years to pay the mortgage debt - Court finds that he has - Court finds Personal Insolvency Arrangement is fair to all creditors - proportionality of arrangement - Court satisfied that return for creditors will be better than the return that they could hope to achieve under bankruptcy.