Huge leap in people with Irish addresses applying for British bankruptcy
THE number of people with Irish addresses applying for bankruptcy in England and Wales has surged.
There were 110 cases last year of individuals who either had an address in the Republic or had moved from Ireland to be declared bankrupt, according to figures from Britain’s insolvency service.
Some 75 people listed Irish addresses, up from 28 in 2011, and 35 moved to either England or Wales to enter a bankruptcy, up from 13 the previous year.
It comes just days after two bankrupt Irish property developers, accused of abusing the UK bankruptcy regime, received restrictions totalling 16 years for allegedly hiding property from authorities and transferring funds to families or associates.
Patrick Gerard Byrne and Martin Doran signed undertakings accepting nine and seven years of bankruptcy restrictions respectively.
Mr Byrne, 44,was declared bankrupt in the UK in November 2011, after he had moved to Spennymoor, Co Durham, from Newbridge, Co Kildare with debts of close to €100m.
Mr Doran, 57, from Duncormick, County Wexford, was declared bankrupt in the UK in December 2011, after he had moved to Leeds. He had debts of close to €145m.
The bankruptcy figures were obtained by Fianna Fail’s Finance spokesman Michael McGrath.