{"id":272,"date":"2025-10-15T07:55:58","date_gmt":"2025-10-15T07:55:58","guid":{"rendered":"https:\/\/mccambridgeduffy.ie\/articles\/?p=272"},"modified":"2025-10-15T07:57:42","modified_gmt":"2025-10-15T07:57:42","slug":"insolvency-insights-2025","status":"publish","type":"post","link":"https:\/\/mccambridgeduffy.ie\/articles\/insolvency-insights-2025\/","title":{"rendered":"Insolvency Insights 2025"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Key Updates for Accountants, Advisors and Legal Professionals<\/h2>\n\n\n\n<p>Our 2025 <em>Insolvency Insights Webinar<\/em> brought together three leading professionals to provide insights on corporate and personal insolvency in Ireland:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Gary Scott<\/strong><\/li>\n\n\n\n<li><strong>Ronan Duffy<\/strong><\/li>\n\n\n\n<li><strong>Keith Farry<\/strong><\/li>\n<\/ul>\n\n\n\n<p>This session explores how directors can protect themselves when a business becomes insolvent, what legal risks arise during liquidation, and how Ireland\u2019s personal insolvency system continues to evolve to support people in financial distress.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>Whether you\u2019re a professional in the Insolvency Industry, an accountant, solicitor or financial adviser, this webinar offers valuable guidance for navigating financial difficulty and finding sustainable solutions.<\/p>\n\n\n\n<p><strong>1. Director Duties and Liquidation Risks<\/strong><\/p>\n\n\n\n<p>When a company enters financial difficulty, directors have clear legal duties; to act honestly, responsibly and in good faith.<\/p>\n\n\n\n<p>As Gary Scott explains, once insolvency becomes likely, a director\u2019s obligations shift from shareholders to <strong>creditors<\/strong>. Failure to act appropriately can lead to:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Personal liability<\/strong>,<\/li>\n\n\n\n<li><strong>Restriction or disqualification<\/strong>, and<\/li>\n\n\n\n<li>Investigations by the <strong>Corporate Enforcement Authority<\/strong>.<\/li>\n<\/ul>\n\n\n\n<p>He outlined common pitfalls such as <strong>fraudulent trading<\/strong>, <strong>reckless trading<\/strong>, and <strong>unfair preferences<\/strong>, reminding directors that good record-keeping and early professional advice are vital.<\/p>\n\n\n\n<p>\u201cDirectors really should stay informed and have a full understanding of the company\u2019s financial position. You\u2019d be surprised how often that\u2019s not the case.\u201d<br>\u2014 <em>Gary Scott<\/em><\/p>\n\n\n\n<p><strong>2. The Changing Landscape of Personal Insolvency<\/strong><\/p>\n\n\n\n<p>Turning to personal debt, <strong>PIP, Ronan Duffy<\/strong> and <strong>Barrister, Keith Farry<\/strong> explore how the personal insolvency system has evolved since 2012.<br>They noted that many of today\u2019s challenges stem from:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Post-Covid financial strain,<\/li>\n\n\n\n<li>Aged debtors approaching retirement,<\/li>\n\n\n\n<li>And the growing role of investment funds in mortgage portfolios.<\/li>\n<\/ul>\n\n\n\n<p>Despite this, the personal insolvency framework, including <strong>Debt Settlement Arrangements (DSAs)<\/strong>, <strong>Personal Insolvency Arrangements (PIAs)<\/strong> and <strong>Bankruptcy<\/strong> continues to deliver strong outcomes when applied early.<\/p>\n\n\n\n<p>\u201cEvery debt problem has a solution. Some are more palatable than others, but there is a way forward for everyone.\u201d<br>\u2014 <em>Ronan Duffy<\/em><\/p>\n\n\n\n<p><strong>3. Family Law Meets Insolvency<\/strong><\/p>\n\n\n\n<p>An especially interesting topic in the webinar is on the <strong>intersection of family law and debt resolution<\/strong>.<br>Relationship breakdowns often trigger financial distress, and many couples remain jointly liable for mortgages even after separation.<\/p>\n\n\n\n<p>Keith Farry discussed how courts are increasingly recognising the role of <strong>Personal Insolvency Practitioners (PIPs)<\/strong> in helping both parties find balanced, lawful solutions that protect housing stability.<\/p>\n\n\n\n<p>\u201cYou can have family law orders transferring ownership, and two tailored insolvency arrangements that keep both sides in their homes and on fair financial terms.\u201d<br>\u2014 <em>Keith Farry<\/em><\/p>\n\n\n\n<p><strong>4. New Legal Developments<\/strong><\/p>\n\n\n\n<p>The discussion also highlighted two major developments shaping Irish insolvency:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Section 115A appeals<\/strong>, allowing courts to override creditor vetoes when proposals are fair and equitable.<\/li>\n\n\n\n<li><strong>Lifetime PIA solutions<\/strong>, now supported by the High Court, enabling older borrowers to stay in their homes for life while creditors recover funds later.<\/li>\n<\/ul>\n\n\n\n<p>These rulings mark significant progress in protecting both debtors and creditors through structured, transparent processes.<\/p>\n\n\n\n<p><strong>5. Key Takeaway<\/strong><\/p>\n\n\n\n<p>The insolvency landscape in Ireland continues to mature, with greater options, stronger legal support, and more collaboration between professionals.<br>Early engagement remains crucial: directors, business owners and individuals should seek advice as soon as financial difficulties arise.<\/p>\n\n\n\n<p><strong>Watch the Webinar<\/strong><\/p>\n\n\n\n<p>\ud83c\udfa5 Watch the full <em>Insolvency Insights Webinar<\/em> on YouTube below.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-4-3 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe loading=\"lazy\" title=\"Understanding Liquidation &amp; Personal Insolvency in Ireland | Insolvency Insights\" width=\"640\" height=\"480\" src=\"https:\/\/www.youtube.com\/embed\/FtmHhgZFm2E?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n\n\n\n<p>If you\u2019d like confidential, professional guidance on corporate or personal debt issues, contact <strong>McCambridge Duffy<\/strong> to discuss your situation.<\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Updates for Accountants, Advisors and Legal Professionals Our 2025 Insolvency Insights Webinar brought together three leading professionals to provide insights on corporate and personal insolvency in Ireland: This session explores how directors can protect themselves when a business becomes insolvent, what legal risks arise during liquidation, and how Ireland\u2019s personal insolvency system continues to [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":274,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[134,131,129,51,41,132,11,135,133,52,12,26,130],"class_list":["post-272","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-videos","tag-bankruptcy","tag-corporate-recovery","tag-debt-solutions","tag-director-duties","tag-dsa","tag-financial-recovery","tag-insolvency-ireland","tag-irish-business","tag-liquidation","tag-mccambridge-duffy","tag-personal-insolvency","tag-pia","tag-section115a"],"_links":{"self":[{"href":"https:\/\/mccambridgeduffy.ie\/articles\/wp-json\/wp\/v2\/posts\/272","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mccambridgeduffy.ie\/articles\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mccambridgeduffy.ie\/articles\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mccambridgeduffy.ie\/articles\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mccambridgeduffy.ie\/articles\/wp-json\/wp\/v2\/comments?post=272"}],"version-history":[{"count":2,"href":"https:\/\/mccambridgeduffy.ie\/articles\/wp-json\/wp\/v2\/posts\/272\/revisions"}],"predecessor-version":[{"id":275,"href":"https:\/\/mccambridgeduffy.ie\/articles\/wp-json\/wp\/v2\/posts\/272\/revisions\/275"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mccambridgeduffy.ie\/articles\/wp-json\/wp\/v2\/media\/274"}],"wp:attachment":[{"href":"https:\/\/mccambridgeduffy.ie\/articles\/wp-json\/wp\/v2\/media?parent=272"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mccambridgeduffy.ie\/articles\/wp-json\/wp\/v2\/categories?post=272"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mccambridgeduffy.ie\/articles\/wp-json\/wp\/v2\/tags?post=272"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}