Tuesday 24 October 2017

What the master of the high court actually said

The Master of the High Court, Edmund Honohan, last week criticised banks and financial institutions for pursuing "to the bitter end" debtors who simply cannot pay what they owe.

"We know which banks were the cheerleaders for the Tiger," he told his court last week, "yes, some banks are reverting to type and come to court assuming that the banker always wins anyway."

The Master said that while debtors might feel they were "outlaws in uncharted territory", what he called "the new debt set" also had legal rights. It was, he said, a criminal offence for institutions to demand repayment so frequently as to cause "alarm, distress, or humiliation" to borrowers.

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