I am advised by Revenue that it is fully committed to being an active participant in personal insolvency solutions providing there is honest and open engagement by the parties involved.
Revenue has confirmed to me that it has received 85 formal requests to participate in the various personal insolvency options to date. Of these, Revenue has agreed to participate in 42 cases, has declined to participate in 34 cases due to insufficient or conflicting information being provided and is currently actively considering the remaining 9 cases.
In regard to the 42 cases where Revenue has agreed to participate, 16 have been approved by the Courts with arrangements now in place for periods up to 6 years. To date €16,000 has been formally written out in these cases with a further €204,000 scheduled for write out once the required legislative requirements and timelines have been adhered to.