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Personal Insolvency

Struggling with Debt and Restructuring Debt can be distressing for the individuals involved, whether corporate or personal.

By talking with our experienced Restructuring & Insolvency Team, you can have peace of mind that you will receive the legal advice you need to make the right decisions.

Our Personal Insolvency Expertise

We advise on high value and complex personal debt. Our Restructuring & Insolvency specialists will listen to the details of your situation and advise on the optimal solution for your situation, ensuring your best interests are protected.

We continue to advise on a number of landmark restructuring & insolvency cases where Lavelle Partners is recognised as one of Ireland’s foremost insolvency practices, led by renowned insolvency expert Michael Lavelle.

For expert legal advice on personal insolvency matters, please contact our team on +353 1 644 5800 or email law@lavellepartners.ie

In the past, if you could not pay your creditors, bankruptcy was your only option. However, with the passing of the Personal Insolvency Act 2012, there are now other debt resolution mechanisms available if you cannot meet your debts and liabilities:

A Debt Relief Notice ("DRN"): This allows for unsecured and some secured debts to be written-off up to a certain limit. You will have to accept being supervised for three years.
A Debt Settlement Arrangement ("DSA"): For the agreed settlement of unsecured debt, with no limit involved, normally over five years.
A Personal Insolvency Arrangement ("PIA"): Whereby an agreement can be made to settle secured debt up to €3 million (though this cap can be increased) and unlimited unsecured debt, normally over six years.

We can assist you with working out the best option for your personal insolvency by fully explaining the options and the short and long-term implications.

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Key Contacts

Ciarán Leavy

Partner

Dermot McClean

Partner

Michael Lavelle

Managing Partner

Why Choose Lavelle Partners for Personal Insolvency?

Lavelle Partners is recognised as one of Ireland’s leading insolvency practices, as reflected by the number of landmark insolvency cases in which the firm continues to act.
Our Restructuring & Insolvency team is headed up by Managing Partner, Michael Lavelle, a leading insolvency expert for over 35 years.
We have considerable experience of high value and complex personal insolvency matters, advising insolvency practitioners, accountants, creditors, directors, shareholders and the broader banking sector.
Our solicitors are pro-active, pragmatic and provide clear legal advice. When managing insolvency matters, we assess your situation objectively and provide an optimal strategy to progress.
As a full-service law firm, clients benefit from our multi-disciplinary offering and our specialist legal expertise across a number of related practice areas including Corporate & M&A, Commercial Contracts and Litigation & Dispute Resolution.

Need Help? Just Ask.

For expert legal advice on Personal Insolvency matters, call us on +353 1 644 5800 or email law@lavellepartners.ie

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What Our Clients Say

“Michael Lavelle is a senior player in the Irish legal sector, he has the right connections and put those to use for his clients. He brings a wealth of experience, legal knowledge and market savvy to any transaction or proceedings on which he advises.”

The Legal 500, 2023

“Michael Lavelle has extensive experience and provides practical advice that is relevant and full of common sense.”

The Legal 500, 2023

“Michael Lavelle brings his significant market experience to the forefront and advocates passionately for his clients. He knows the Irish commercial market intimately. Michael is a strong strategist and assists his clients to place themselves in a position of strength from the outset of proceedings.”

The Legal 500, 2023

“Michael Lavelle is an industry leader in this sector. His grasp of the complex issues was second to none and his ability to offer objective advice, even when we did not want to hear it was greatly valued. We felt very confident and secure having Michael go to bat for us and knew our position always got a good hearing. We have great trust in Michael’s opinions and advices and secured a very satisfactory outcome on conclusion of our engagement.”

The Legal 500, 2023

“Michael is a senior statesman within the Irish legal market, he has built up solid relationships with his counterparts in the other commercial firms and with key figures across a range of industries. Michael puts his in-depth legal knowledge and commercial experience to use in advocating for his clients. He provides pragmatic and solution-focused advice. In short, Michael is the man you want in your corner.”