Protection sought over €613k tax demand

A woman has asked the Circuit Court to grant her protection from the Revenue Commissioners for a 70-day period in which to possibly negotiate a reduction of a €613,000 demand.

Judge Susan Ryan adjourned for just over a week the application for a protection certificate under the personal insolvency legislation.

The judge said she wanted the Personal Insolvency Practitioner representing the Swords woman to address the court on what basis the Revenue demand was a qualifying debt under the scheme.

Judge Ryan said the lady, with assets of only €356,000, was seeking a protection certificate in relation to one debt only, the €613,000 being claimed by Revenue.

The case was one of a number heard by the court yesterday.

In another case a woman with a mortgage debt of €239,598, was granted a protection certificate against her creditors, including a Credit Union, which was owed €15,000.

Her assets were stated to be €140,000.

Applications by another couple from Stillorgan were adjourned for just under two weeks.

Papers before the court outlined the couple’s inter-related debts, including a liability of €118,300 as well as a number of smaller liabilities.

Their assets were stated to be €7,000 and €7,100 respectively.

Another woman from  Rathfarnham was granted a protection certificate in relation to her main mortgage of €285,319 and related liabilities. She was stated to have assets of €328,000.

Another couple from Lucan, Co Dublin, with a principal private residence mortgage of €252,873, were granted protection certificates. They were stated to have assets of €50,000 and €51,000 respectively.

Judge Ryan was also told how a couple from Blackrock, Co Dublin, were withdrawing their application for an extension to a 70-day protection certificate already granted to them by the court.

The court had heard the couple had an outstanding mortgage of €193,900 on their principal private residence and a mortgage of €800,662 on other property. The judge was told the proceedings had been settled.

The granting of a protection certificate gives applicants 70 days protection from their creditors during which time a Personal Insolvency Practitioner can attempt to negotiate reductions on their debts with creditors. Debts in the main apply to home or investment mortgages and reductions average out at about 40%.

Applicants, whose cases were adjourned, were granted leave to apply in the meantime.