The publication of the draft Personal Insolvency Bill, described by the Government as “groundbreaking”, has been delayed by two months. It is understood that the delay is due to obtaining approval and clarifying certain issues from the Troika (the European  Commission, the Central Bank and the International Monetary Fund). 

The Government had previously indicated that the draft legislation would be published by the end of April 2012 and would be available to be debated before the Dáil summer recess. However it now seems that the draft legislation will not be available for debate until some time near the end of June. The Government has  indicated that the legislation, once published, will be given priority before the Dáil, with the debates expected to commence before the summer recess and to continue in the Autumn. 

View a detailed article on the scheme of the Personal Insolvency Bill here.

Contributed by Craig Sowman.
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