The High Court recently ruled on the use of exit consents in relation to an exchange offer as part of a debt restructuring where the original bond issue was governed by English law.

It was odd that during an Oireachtas committee’s questioning of Permanent TSB chief executive Jeremy Masding, for three hours last week, that the bank’s €4 billion bailout with public money was only mentioned twice. One reference came from Independent TD Stephen Donnelly, a member of the Oireachtas finance committee: “The people of Ireland made €4 billion available to this same institution as part of the recapitalisation and Mr Masding has admitted that not one euro of that amount has been forgiven for borrowers.

James Reilly aside, it was a good week in the Dail for debtors. The Personal Insolvency Bill started its journey through the Oireachtas last Wednesday. It should be broadly welcomed around the country. Justice Minister Alan Shatter deserves credit for the legislation -- it's probably the first serious piece of law-making from this Government which begins to push some responsibility back onto the banks for their contribution to the economic collapse.

21/2/2012: Who has had the better crisis: Ireland or Iceland? Many would say Iceland, which Friday won a Fitch upgrade that restored it fully to investment-grade status; that puts it a step ahead of Ireland, which still has a "junk" rating from Moody's. Short-term, this verdict is probably right. But longer-term, Ireland's euro membership may bring benefits. Both countries were brought down by reckless risk taking from outsize banking systems.

For some reason, the issue of debt forgiveness, which has been discussed for years, seems to be back on the table as if it is something new. It is not new, Independent.ie reported in a commentary. Debt forgiveness, debt write-offs, debt restructuring -- whatever term you want to use -- always happens after a credit-driven growth mirage. The reason is simple. In the boom, too much credit was given to people who had no prospect of paying the stuff back and now they can't pay it back.

The High Court has set down its position in relation to funding arrangements with court-appointed liquidators. Arrangements to fund a liquidator generally arise in circumstances of lack of assets or readily available assets where creditors want something pursued or liquidation remedies invoked. The case in question(1) concerned a proposed funding arrangement where a secured creditor owed in excess of the value of the secured property.

The High Court has disqualified former National Irish Bank chief executive Jim Lacey for nine years from involvement in the management of any company on grounds of unfitness, the Irish Times reported. Mr Lacey is also facing a substantial legal costs bill following the lengthy hearing of proceedings brought by the Director of Corporate Enforcement seeking disqualification under Section 160 of the Companies Act. Mr Justice Roderick Murphy, who last April found Mr Lacey's conduct of various aspects of the bank's affairs was "grossly negligent", today ruled the appropriate period of di

Ireland will need to do more to control its government payroll numbers and costs this year—a condition of the bailout loans it secured with the European Union and International Monetary Fund—the Irish Budget Minister said, The Wall Street Journal reported. Brendan Howlin, appointed to a new Ministry of Public Expenditure and Reform in the new Irish coalition government that took power in March, said the first review of an efficiency deal struck with public-sector unions last year showed "solid and measurable progress" in implementing savings and efficiencies of €289 million ($417.3 m

Appointment Usually accountants take appointments but in a small number of cases solicitors have been appointed. Accountants are appointed for all procedures relating to companies including insolvency procedures relating to insurance companies. Qualifications There are no separate qualifications for an individual to take an insolvency appointment.