Even if he paid the entire €60k off the €17m it would make no dent in it. The judge probably reckons the priority is to pay the mortgage on his home.
That's hardly the issue though Brendan
Either he should be obliged to start paying it off or he shouldn't. Who do you think is going to have to pay in the end?
Discretionery spending like €27K on Private School fees is not something that anyone could regard as a necessary living expense.
Anyway I don't want to get banned so I'm not saying any more on the subject
...Personally I am glad that our judges show some degree of mercy and understanding.
€10 a month? I know many judges who would refuse to even grant an order in those circumstances.A district court judge in the west recently awarded an installment order of €10 per month in favour of a bank that had sought €400 per month for.
That costs more money for his creditors and they are likely never to see a penny under bankruptcy.He should be declared bankrupt by his creditors and his outgoings should be reviewed in terms of necessities and luxuries.
I would feel differently if the debtor owed the debt to another private citizen who was suffering a drop in standard of living so that the debtor could sustain his. In this case the €27k for the kids school wouldn't even cover two week's interest..
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