The Insolvency Service of Ireland (ISI) is an independent statutory body which was established on 1 March 2013. The objective of the Insolvency Service of Ireland is to restore insolvent persons to solvency.
Guidance – Personal Insolvency (Amendment) Act, 2015
Guidance has been prepared to summarise the key changes made by the 2015 Act to the Personal Insolvency Act, 2012 which include:
- provisions to specifically address arrangements approved by the sole creditor entitled to vote or where no creditor votes;
- significant increase in the maximum debt threshold for a debt relief scheme;
- entitlement (in stated circumstances) of a person seeking to comply with an alternative repayment agreement to apply for a personal insolvency arrangement; and
- right of appeal to the Court for an order enforcing a proposed personal insolvency arrangement rejected by the creditors.
Provisions of the Personal Insolvency (Amendment) Act, 2015 reflect practical experience in applying existing legislation governing personal insolvency.
For those members wishing to practice as a Personal Insolvency Practitioner (PIP) please refer to the please refer to the Insolvency Service of Ireland website for details.
Revision of Statements of Insolvency Practice – (SIPS)
||Amended version of the Statements of Insolvency Practice. The revised SIP 1B and SIP 2B which reflect statutory references to the Companies Act 2014
||A liquidators investigations into the affairs of an insolvent company
||Preparation of financial information in insolvency proceedings Republic of Ireland
||Planning and organisation of creditor's meeting
||Remuneration of insolvency office holders in Ireland
||The handling of funds in formal insolvency appointments
||Acquisition of assets of insolvent companies by directors
||A receiver's responsibility to preferential creditors
||Dealing with employee claims
||Taxation matters of practice
||Guidance for members of the committee of inspection in court and in creditor's voluntary liquidation
||Reporting by liquidators to the Director of Corporate Enforcement
||Appointment as examiner under the Companies (Amendment) Act, 1990 (Revised June 2010)
||Appointment as examiner or independent expert under Part 10 Companies Act 2014
- ANTI MONEY LAUNDERING: GUIDANCE FOR INSOLVENCY PRACTITIONERS IN ROI
issued by CCAB-I.