Do Irish banks recognise English bankruptcies?

eth0_ · 06-08-2011 12:02PM #1

Can anyone settle an argument for me?

Do Irish banks have to recognise all forms of English bankruptcies if a debtor declares an Irish debt? Specifically 'debt relief order' (DRO) insolvency which was introduced in England and Wales a few years ago.

I say they do, but a friend of mine reckons they might hold off during the one year DRO period but will then resume chasing after it has been discharged OR they will wait until the person moves back to Ireland before launching court proceedings against them?

Can't find anything concrete online.

Fordpefect · 25-09-2011 12:38PM

interesting question,j have a friend wh0 is considering this route of action,but it appears a grey area to me

Jim2007 · 25-09-2011 09:15PM

eth0_ wrote: »

I say they do, but a friend of mine reckons they might hold off during the one year DRO period but will then resume chasing after it has been discharged OR they will wait until the person moves back to Ireland before launching court proceedings against them?

At this point without some case law on the subject it is difficult to say, some legal advisors seem to thing so, but I have my doubts. The EU rules on recognition of foreign bankruptcies states that in the case of property and entries in a public registry the jurisdiction remains with the court where the property or registry is held, meaning an Irish court in this case.

So as the say it is all to play for

Jim

NIMAN · 26-09-2011 08:31PM

On a slightly related issue, I am paid in NI/UK and when I was applying for a mortgage this year in RoI I had to get the bank a credit report from the UK to prove I wasn't hiding any dodgy past history in the North wrt debt.

Do Irish banks recognise English bankruptcies?

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