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€2m debt write-off for publican approved

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The High Court has rejected objections raised by a vulture fund to a personal insolvency arrangement (PIA) writing off €2m in debts owed by a publican.

A judgment on the matter, delivered by Mr Justice Denis McDonald, is just the latest in a series of large write-offs approved by the court under legislation aimed at allowing debtors to keep their family homes and get a fresh start.

Gary Hyde (51), a publican who has also been involved in boxing promotions, had debts totalling almost €2.85m.