Germany
Maximilianstr. 280539 München
Germany+49 89 4444 373-20
Kanzlei Verbracken & Partner
Insolvency in Ireland
A financial fresh start needs a realistic plan. We consider eligibility, the choice of procedure, income and your personal circumstances together.
Bankruptcy and alternative solutions
Ireland has several debt solutions. Court bankruptcy differs from a Debt Relief Notice, Debt Settlement Arrangement and Personal Insolvency Arrangement. Suitability depends on debts, security, income and assets. A Personal Insolvency Practitioner handles the relevant arrangement procedures; in bankruptcy, the Official Assignee administers assets.
Duration, income and assets
Discharge from bankruptcy normally occurs after one year. Income contributions can continue for up to three years, and asset administration may take longer. Preparation and establishing a genuine centre of interests add time. Contributions reflect recognised reasonable living expenses and household circumstances rather than a fixed German attachment allowance.
Recognition and preparation
In cross-border cases, we assess COMI and the debts concerned. German nationality does not exclude an Irish procedure, but a registered address alone is insufficient. Prepare a full creditor list, tax assessments, income records, an asset overview and family and employment details. Secured and special-category debts require separate assessment.
Your situation deserves a clear next step.
We assess your circumstances personally and involve the appropriate professionals for legal and tax questions.