Number of people declared bankrupt fell sharply in 2022
The ‘in excess of €6 million’ realised from ‘hidden assets’ last year is twice the “in excess of €3m’ in undeclared assets realised in OA bankruptcy investigations undertaken in 2021.
The report states: “The integrity of the system depends on bankrupts making full disclosure and co-operating with the OA.” The report states that in bankruptcies, dividends with a cumulative total of approximately €1.45m were paid out to 188 creditors in 50 cases by year-end.The number of adjudicated bankrupts has declined from 473 in 2017. A further 189 people exited bankruptcy last year.
In addition to the 105 bankruptcies last year, the ISI approved 1,076 Insolvency Arrangements last year compared to 1,193 in 2021.
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