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From 14M to 37K Debt Settlement | Cork News
A 47-year-old Irish developer, Michael Murray, is set to erase a staggering €14 million debt to Nama — the agency that stepped in after the 2008 crash — by paying just €37,000, thanks to a court-approved personal insolvency deal. Remarkably, he’ll keep his family home worth €750,000, while settling the rest through a restructured mortgage backed by a €200,000 family contribution. Once a booming Celtic Tiger entrepreneur, Murray’s fortunes collapsed as his businesses went into receivership. Now, with monthly income of €2,477 and expenses at €2,188, he’s turning a financial disaster into a…
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