EBS wins appeal against PIA allowing couple to write off €250k debt

The couple sought the PIAs arising out of home loans they had acquired from the EBS of €790,000 dating back to 2006.

The judge said the applications raised important issues as to whether the PIAs enable the creditors to recover the debts due to them to the extent that the means of the debtors reasonably permit, or whether, as the objecting creditor alleges, the terms of the PIAs are unfairly prejudicial to it as a creditor. File photo: iStock

The High Court has overturned Personal Insolvency Arrangements (PIAs) that would have allowed a married couple write off a debt of approximately €250,000 owed to a building society.

In a detailed judgment, Mr Justice Mark Sanfey upheld EBS DAC's objections to the Circuit Court approving PIA's in respect of Niall McKiernan, a garda sergeant, and his wife Karen Fitzpatrick, a secondary school head teacher.