Tuesday 20 February 2018

James Treacy: The bad debts of 2011 about to get a lot worse

EVERYTHING is relative and it says much about the sheer scale of current levels of bad debt that the spectacular judgments of not so long ago now seem like mere footnotes in monetary terms.

Back in 2007, a solicitor named Michael Lynn had a judgment registered against him of just over €1.7m, which ranked among the top 10 judgments of that year. He also absconded to Portugal.

While the debtors of 2011 lack Mr Lynn's badness, they still have the capacity to take the breath away.

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