We work in close conjunction with leading firms of Insolvency Practitioners and can arrange to have you professionally represented at creditor’ meetings throughout Ireland or the United Kingdom.

Some information of the different Insolvency Procedures in Ireland (North & South)

Insolvency – Northern Ireland – Individuals

DRO Debt Relief Order

To apply for a DRO, you must meet certain conditions:

  • You must be unable to pay your debts.
  • You must not owe more than £15,000.
  • You can own a car to the value of £1000 but the total value of other assets must not exceed £300 (items such as clothing, furniture and tools for use in employment or a business may be disregarded).
  • After taking away tax, national insurance contributions and normal household expenses, your disposable income must be no more than £50 a month.
  • You must either be currently domiciled (living) in Northern Ireland, or have been living or carrying on business in Northern Ireland at some time within the last 3 years.
  • You must not have been subject to another DRO within the last 6 years.

– IVA – Individual Voluntary Arrangement – same as UK
– Bankruptcy – same as UK


– CVA – Company Voluntary Arrangement – same as UK
– Liquidation – same as UK
– Administration – same as UK
– Receivership – same as UK

Insolvency – Republic of Ireland

What’s new?

Things have changed for individuals with the introduction of The Personal Insolvency Act 2012

There are now available three options

1. Debt Relief Notice (DRN) – similar to Debt Relief Order in NI

Administered by an AI (approved intermediary e.g. Citizens Advice type organisation)

This allows for the for the write-off of qualifying unsecured up to €20,000
A person with no income or assets and who has no realistic chance of being able to pay their debts within the next three years. The individual signs a statement of assets?
It will be subject to supervision and rules will apply e.g. cannot pursue the debtor in this period

2. Debt Settlement Arrangement (DSA) – similar to an IVA in UK

Administered by a PIP (personal insolvency practitioner)

Allows for the agreed settlement of unsecured debt with no limit – this will normally be over
five years and applies to people who have some capacity to make repayments
Needs 65% of creditors to approve the arrangement
Like DRN’s conditions will apply

3. Personal Insolvency Arrangement (PIA)

Administered by a PIP (personal insolvency practitioner)

To principally deal with secured debt (e.g. Mortgage arrears) however can also include
unsecured debt. Applies to debt up to €3m
Will be similar to an IVA in UK however as a DRN it only needs 65% of creditors to approve the

4. Bankruptcy Reduced from twelve to three years

If you require more information of the above please contact us


Liquidation – similar procedure to UK


Examinership enables insolvent companies to seek court protection to explore all opportunities for their survival in an inclusive process that involves the appointment of an examiner (usually a practicing accountant) to shepherd the company through a breathing-space restructuring period of up to 100 days. Some work, some don’t

Receivership – Secured lender appoints an accountant specialising in insolvency to protect their interest