EU Opens Proceedings Against Ireland over Delays in Transposing New Insolvency Laws

The European Commission has opened infringement procedures against Ireland for allegedly not fully transposing a directive on insolvency into law, the Irish Independent reported. Brussels sent a letter of formal notice to Ireland on September 26, accusing the country of not meeting a July 17 deadline to set out how it plans to introduce electronic communications for three aspects of insolvency.
Europe
Ireland
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Mortgages Arrears Review Calls for Lifting of €3 Million Ceiling for Irish Insolvency Deals

An Irish government-commissioned mortgage arrears review group has called for a removal of the current €3 million secured debt limit for individuals to secure insolvency deals, under measures aimed at tackling more than 20,000 long-term arrears cases in the State, the Irish Times reported. A debtor with secured debts in excess of €3 million is not currently eligible to make a proposal for a personal insolvency arrangement (PIA), unless all secured creditors agree to disregard the cap.
Ireland
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Irish Childcare Facilities Face Going 'Insolvent' Due to Lack of Government Support

Creches face going "insolvent" if the Irish government fails to provide sufficient funding to providers, it has been warned, the Irish Examiner reported. Federation of Early Childhood Providers (FECP) chairwoman Elaine Dunne said that many more creches and playschools would depart from the core funding model if changes are not made. Currently, childcare providers who accept core funding cannot increase existing prices beyond a strict limit of €33.30 per week. They have argued they cannot continue to operate without additional funds.
Ireland
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