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Bankrupt businessman Sean Quinn. Julien Behal/PA

3,000 bankruptcy applications expected in 2014

This compares to just 58 people declared bankrupt last year, with new legislation which came into effect last month expected to cause a ‘significant increase’.

SOME 3,000 applications for bankruptcy are expected over the next twelve months, following the  commencement of new laws which came into effect from last month.

In response to a parliamentary question, Shatter said that when the legislation commenced, there was a total of 189 people who had been declared bankrupt by the courts. Of that number, 73 have been bankrupt for three years or more.

These people will be eligible for automatic discharge six months from the 3 December legislation commencement date.

In 2013 there were 58 people declared bankrupt in Ireland.

“I am advised that this calendar year, seventeen people were made bankrupt on their own application,” Shatter said. “Five of these self-adjudications were made following the recent amendments to the bankruptcy regime, namely the reduction in the bankruptcy term from 12 years to three”.

Given the reduced term, the minister said he anticipated “that there will be a significant increase in the number of bankruptcy applications”.

“A tentative estimate of the numbers expected to avail of bankruptcy over the next 12 months is 3,000,” he said.

Read: New bankruptcy rules to be signed into law by Minister Shatter today>

Read: Two more insolvency cases heard under new regime as 7,500 contact ISI>

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9 Comments
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    Mute Ando Winters
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    Jul 29th 2011, 3:24 PM

    out of the 253 incidents, how many were carried out by foreign nationals?.

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    Mute David McDermott
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    Jul 29th 2011, 3:42 PM

    Are u taking the piss.

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    Mute Brian Lighthouse
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    Jul 29th 2011, 4:03 PM

    David, I don`t think Ando is taking the piss. This activity seems to be the exclusive domain of foreign nationals. I don`t know the set up, but a check of the stats will show you that nearly all of those caught at this ATM game are of Eastern European origin. That is not a racist remark, simply the facts.

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    Mute Danny D
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    Jul 29th 2011, 5:08 PM

    How does it matter?

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    Mute Danny D
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    Jul 29th 2011, 5:08 PM

    David, care to provide source of your statistics?

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    Mute jackass ireland
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    Jul 29th 2011, 5:40 PM

    Maybe he asked Homer Simpson…. Seems to work for Danny.

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    Mute Big John
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    Jul 29th 2011, 5:59 PM

    Where you get your stats is a valid question…so where did they come from???

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    Mute David McDermott
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    Jul 29th 2011, 7:32 PM

    Do u not mean ando???

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    Mute David McDermott
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    Jul 29th 2011, 9:27 PM

    Plus I believe it was irish low lives that crashed a JCB into a shop and stole the whole ATM.

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    Mute Derek Marten
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    Jul 29th 2011, 10:38 PM

    In 2006, I was at a seminar on ATM Security and Fraud.The speaker (Head of Security for a major Irish Bank) stated that 9 out of 10 devices found on machines were traced back to an Eastern European or Russian crime syndicate.We were informed that some of the devices, that are extremely high tech, are worth €250,000 euro each!Many of the guys who plant them on the machines have been people trafficked into Ireland and to repay their exorbitant travel costs, they must attach and collect data from ‘skimming’ machines!The other ‘skimming’ machines (1 in 10) that were found were far more crudely made and attributed to Nigerian crime outfits.

    So going by what this guy told us, in 2006, 100% of ATM ‘skimming’ machines were foreign made and owned. Maybe this has changed and other nationalities (including Irish) have taken up what is a highly lucrative activity estimated to be worth anywhere between €3.5 and €10 million every year!

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    Mute dirpaddy
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    Jul 29th 2011, 7:41 PM

    One word…Romanians

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    Mute fizi_water
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    Jul 29th 2011, 7:53 PM

    One word: Romani. Romanians and Romani quite difference, ignorant heads will never comprehend. In Romania there is lot of decent hard working people (in Ireland too), these are gypsies from Romania that give them bad name and awful presence all over the world.

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    Mute Karl Power
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    Jul 29th 2011, 10:29 PM

    @dirpaddy.. I have been to Romania and they are a lovely race of people who are sick to death of people like you who confuse them with Roma.. have you ever met a real Romania as opposed to a Roma? it’s very hard to spot a Romanian person a they just look continental.. of all the countries I have visited in Europe Romania was the biggest suprise, its a bit backward but the people are friendly charming and very kind.

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    Mute Barry R.
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    Jul 30th 2011, 3:20 AM

    Gents,
    You should know well by now that you cannot say a word about anyone from abroad because you will be immediately accused of not being a happy-clappy multiculturalist.

    That we all know the answer is not enough.

    its simply not PC to talk about foreigners ( yes, there, I said it, the F word !!) and their involvement in anything, other than religious festivals and projects run by women with double-barrelled surnames

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    Mute Finbarr O Sullivan
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    Jul 29th 2011, 8:14 PM

    Ah come on The journal, ATM Machine? Really? Automated Teller Machine Machine? like pin number? pcb board?

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    Mute fizi_water
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    Jul 29th 2011, 7:30 PM

    @Brian @Ando
    Yeah sure, everything bad in this country is because of foreigners. They steal your jobs, they steal from your atm’s, they steal your women, etc. etc. :-)
    To be bit more serious, I doubt there are any statistics showing what you are suggesting, most likely these stats are nothing more than a product of your prejudiced imagination.
    In fact there were few news in past year or two saying about some eat european gangs skimming ATM’s in Ireland, but I don’t think there is more info than just that. And reason for it is probably only that Irish thugs didn’t have technology that other thugs brought in, not that they were so noble they decided not to ever touch any ATM’s… You want to comment, get your facts right, otherwise you just create biassed lies.

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    Mute fizi_water
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    Jul 30th 2011, 1:37 AM

    @Derek Marten

    OK, thanks for that info, but even knowing these facts, what difference that makes who they are?
    If somebody can afford 250K worth skimming equipment, they are not average guys, but mafia.
    I’ve googled couple other news from around the world about ATM skimming that took places all over the world, and indeed they quite often mention Bulgarian, Serbian and Russian involvement, whether that be USA or France or Ireland.
    However these are clearly people not linked with any East European minorities living in Ireland or any other country, but they are professional criminal groups doing their “jobs” all over the world. Suggestions made here in couple comments were quite obviously made towards East Eur. immigrants leaving in Ireland like they were to blame. Believe me that east E.U. people bank accounts were robbed too, I doubt criminals were doing refunds for non English sounding names :P

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