Thousands of professionals seek help to go bankrupt


#21

EAs hold the booking deposits so plenty of client money there. Not to mention rental agents collecting rent.


#22

I had forgotten EAs and their client account.

But I think that you’re mixing up two different issues. A lot of EAs and rental agents collecting rent are working through Limited Liability Companies. An undischarged bankrupt can’t act as a director anyway

What Hall is alluding to is taking away someone’s livelihood by virtue of them becoming bankrupt. i.e. they cannot be practice as a solicitor - I’ve no idea if the 1954 act is the relevant act but it mentions the lunacy and the bankruptcy stuff.

irishstatutebook.ie/1954/en/ … c0049.html

The Courts are generally in a lot of ways very lenient when it comes to livelihood. They’ll let a lot of shysterism go on before they take away a man’s right to earn one.


#23

irishtimes.com/business/fin … -1.3250014

funnily enough, a reliable source was telling me over the summer of several partners in her big 4 firm who had to retire upon reaching 65 who still had mid 7 figure debt to work through (syndicates etc); of course they couldn’t declare bankruptcy while practicing and now have earning potential vastly diminished


#24

i could well believe that