Commencement of Bankruptcy (Amendment) Act 2015 Completed

The Tánaiste has, on the 1st of June, signed into law remaining provisions of the Bankruptcy (Amendment) Act 2015, having obtained the required changes to the Rules of Court.

These sections now provide for the abolition of the ‘statutory sitting’ requirement, which had previously called for an extra hearing of the High Court, attended by the bankrupt person, along with Creditors and the Official Assignee after the adjudication of bankruptcy.

The Act, signed on 25th December 2015 effected major changes to bankruptcy in this jurisdiction, most notably the reduction of the normal duration of bankruptcy from three years to one year.

According to Frances Fitzgerald, Minister for Justice and Equality, “This latest Commencement Order will remove unnecessary costs and delays for debtors and creditors, free up court time and resources and allow more efficient and effective bankruptcy administration”.

The Superior Courts Rules Committee signed the relevant rule changes on 7th April 2016. Following commencement by the Minister, they have taken effect as of the 1st of June.

The legislation is available here.

Read more at Justice.ie

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