Stuboy. Ivan did not get off that lightly. Because of his ministerial pension he was well over the RLE's and so was unable to dodge the payment order.
"The order allows the trustee nominated by AIB to take charge of Ivan Yates’ finances during the formal bankruptcy to keep dipping his hand fairly deep into Mr Yates’ pocket for the next two years.
It is not a standardised thing, but the dark mood from AIB and Mr Yates’ now considerable post-bankruptcy income suggests it is likely.
The rules are fairly clear, for up to two years after a bankruptcy the bank – acting through a trustee – can recoup any income in excess of what’s considered necessary for a minimum standard of living.
In Ivan Yates’ case that will amount to a hefty figure. He has his old job back as a presenter with Newstalk and has just been hired as a columnist with this newspaper."
http://www.independent.ie/business/...l-and-become-an-economic-zombie-29589664.html
I know that Steve Thatcher has repeatedly said that the "no retrospective IPO" rule holds for the UK but I have as yet found no definitive evidence that similar applies in Ireland.