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Conduct of the debtor

Section 115A(10) requires the court to have regard to the conduct of the debtor in the two years prior to a protective certificate (a court order which grants the debtor protection from their creditors while seeking to put in place an insolvency solution – similar to examinership in company law) when deciding whether or not to approve a PIA.  In addition s120(a)  allows a creditor to object where the debtor has arranged their financial affairs with the aim of being able to avail of an insolvency solution.  The court might not grant an order in circumstances where the debtor had not engaged in the process in good faith.