Former Miss Ireland Pamela Flood and her husband, Restorer Ronan Ryan, could face a prison for violating court decisions over the next 48 hours for nearly ten years for free.
Lawyer Rudi Neuman told Judge Jacqueline Linnane in the district's civil court on Tuesday that he will ask her on Thursday to abolish the insolvency order, which makes Ryan temporarily untouchable.
Mr Neuman, who appeared with Yvonne O'Connell of Amoss Solicitors for the private equity fund Tanager, said that Tanager would, as an alternative, apply for a permit to execute a rescue order approved by him four months ago .
In the event that Tanageru court grants these exemptions on Thursday, Linnana's decision will be followed by an application to issue an order stating that Mr Ryan and Mrs Flood are bound to be imprisoned for the purpose of imprisonment.
Applications will be lodged with the judge Linnane in the presence of solicitors and lawyers who will appear for Mr. The couple has their little children living in a house of EUR 900,000 at Avenue Mount Prospect Avenue, Clontarf, Dublin 3.
The couple is obliged to pay a mortgage debt of EUR 1.2 million for the property they have been granted to depart at the latest by 9 July, when Tanager told them that he would accept the proceeds from the sale of the property and would delete the rest of their entire debt and allow them to empty, without having to pay a penny for legal expenses.
Judge Linnane was told that the couple had given up their business, and only three weeks before the deadline of July 9, Mr. , which acquires a certificate of insolvency, which protects it from creditors for 70 days. Unless it is overturned, it can run for another 35 days.
Mr Neuman told the court on Tuesday that Tanager unsuccessfully filed a request with Judge Lambe to discharge his protection order, despite having decided that Ryan had violated Article 118 of the Personal Insolvency Act 2012.
The department states that the debtor is obliged to act in good faith. . . fully disclose (PIP) all of its assets, revenues and liabilities, and "any other circumstances that are reasonably likely to affect" an application for protection under the Insolvency Law.
The court has already heard that Mr. Ryan and Ms. Flood, which is not protected by the Protective Certificate of Insolvency, did not pay mortgage debt for only 10 years, except for the payment in February.
Judge Linnane allowed Tanager to inform the legal team of the couple in a short time about his intention to request more relief on Thursday on the court.