Insolvency service ‘not fit for purpose’

Irish Mortgage Holders Organisation chief executive David Hall has described the Insolvency Service of Ireland (ISI) as "not fit for purpose" following the release of the latest bankruptcy figures.

According to the ISI, there has been a threefold increase in the number of bankruptcies over the course of this year.

For the first six months of this year, there have been 164 bankruptcy adjudications with an aggregate value of €278m. This compares with a total of 58 bankruptcy cases over 2013.