New bankruptcy guide and scenarios published today

The Insolvency Service of Ireland launched some new information today on the back of the changes announced in Bankruptcy law.

The two main documents are a ‘Debtors Guide to Bankruptcy‘ and a ‘Bankruptcy Scenarios‘ booklet which gives worked examples. These are both welcome publications in light of the new rules.

Some of the main changes we highlighted before were that the need to advertise in the national press will be removed – you will be able to do this on the ISI website in the future and also the lowering of the discharge date down to 3 years automatically (unless the Official Assignee has cause to do otherwise; for non-compliant bankrupts).

These documents are well worth reading before considering bankruptcy, along with the services we help to co-ordinate they will be good to keep on hand for reference purposes.

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