Thousands of debtors who are waiting to avail of debt relief under the Government’s new personal insolvency regime will face “consequences”, including being placed on public registers, according to Ireland’s new debt tsar.

In one of his first public appearances, Lorcan O’Connor – Director Designate of the Insolvency Service of Ireland (ISI) – said the Personal Insolvency Act is a “very important step” for Irish society.

But the restructuring and insolvency expert warned that there would be consequences for the large number of debtors lining up to avail of the various debt relief schemes under the new legal regime designed to take debt settlement away from the courts.  Access video and full article