Monthly Archives: January 2012

Alan Shatter and Michael Noonan at a press briefing this afternoon to announce the new rules, which are very, very Irish.

* People will be able to agree deals to write down mortgage debt as part of personal insolvency arrangements.

* However, such deals will require a majority of creditors such as banks to agree to deals on a case-by-case basis.

* These would be non-judicial settlement arrangements.

* The legislation would assist those in serious debt situations and help to ensure that, as far as possible, people would not lose their homes.

* People will either have to satisfy the courts or negotiate non-judicial arrangements between borrowers and lenders.

New Insolvency Rules To Cover Mortgages (RTE)

(Sasko Lazarov/Photocall Ireland)

“The Remains Of An Omelette Stuck To The Pan That Looks Like The 26 Counties.” (John Kil)

“The Steak And Chips At Me Ma’s That Look Like Ireland.”  (Jim Redmond)

“The Hole In The Wall Of An Edinburgh Hostel That Looks Like Ireland.” (Poache)

“The Hole In The Ground In North Strand, Dublin ,That Looks Like Ireland.” (Aidan Hanratty)

“The floating Rubbish In The Liffey That Looks Like Ireland.” (Naomi O’Leary)

The Unspecified Thing That Looks Like Ireland to Broadsheet@broadsheet.ie