SFA Submission on Period of Bankruptcy
The SFA called for a reduction in the period of bankruptcy period from three years to one in a submission to the Joint Oireachtas Committee on Justice, Defence and Equality. The SFA argued that in the case of honest business failure, the period of bankruptcy should be shortened to foster a more favourable environment for entrepreneurship, including second chance entrepreneurship. Based on the consultation, the Committee recommended that the term be reduced to one year, but that an extension to three years could be applied in certain circumstances.
To read the Committee’s report please click here.
To read the full SFA Submission please click here.