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CITY TRIBUNE

100 declared bankruptcy in Galway since 2014

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More than 100 people declared bankruptcy in Galway over the past four years, according to a new report from the Insolvency Service of Ireland.

The figures show that from the first quarter of 2014 to the first quarter of 2018 there were a total of 107 bankruptcies here.

And a further 164 people came to insolvency arrangements with creditors during the same period through Debt Relief Notices (DRN), Debt Settlement Arrangements (DSA) or Personal Insolvency Arrangements (PIA).

The majority of debt is related to mortgages, the figures show.

Where certain criteria are met for debt, a DRN allows the write-off of up to €35,000 subject and the person is subject to a three-year supervision period.

A DSA allows for the agreed settlement of unsecured debt (with no limits) over a period of up to five years.

A PIA allows the restructuring or settlement of secured debts of up to €3m and the settlement of unsecured debt over a period of up to six years.

The Galway figures show there was a rate of 5.5 bankruptcies per 10,000 adults – comparative figures show Cavan had the worst rate at 8.9 per 10,000 (49 people), while Kerry had the lowest at 3.3 (37 people).

Dublin recorded a rate of 4.4 (463 people); Wicklow 7.8 (81 people); Limerick 4 (59 people); Cork 5.9 (241) and Waterford 7.6 (66 people).

For the three forms of insolvency arrangement (DRN, DSA and PIA), the rate in Galway was 8.4 per 10,000 adults (164). The highest rate was in Waterford at 35.1 (305) while the lowest rate was in Limerick at 5.1 (76 people).

Other rates included Carlow at 25.2 (106 people); Dublin at 7.1 (745); Cork at 15.5 (633) and Wicklow at 18.5 (193 people).

Nationally, a breakdown of the debt involved in insolvency arrangements in the first quarter of 2018 (a total value of €1.164 billion) shows 50.5% (€588m) related to Buy-To-Let investor mortgages; 25.5% (€296.6m) owed to financial institutions; 18.8% (€218.8m) related to mortgages on people’s homes; 0.9% (€10.2m) to Revenue; 0.4% (€4.6m) to credit unions. A further 3.9% (just under €45.9m) was classed as ‘other debt’.

Lorcan O’Connor, Director of the Insolvency Service of Ireland, said: “While there are some fluctuations within the statistics, the number of debtors securing Personal Insolvency Arrangements, the solution that returns debtors to solvency while keeping them in their home in over 90% of cases, continues to rise.”

CITY TRIBUNE

Council rows back on ‘reduced delays’ projections for Kirwan junction

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From this week’s Galway City Tribune – Motorists have described it as ‘a disaster’ and a former mayor has said the project gave very poor value for money, but Galway City Council have this week asked the public to be patient with the revamped Kirwan junction, close to the Menlo Park Hotel.

Since the four-arm signalled junction opened early last week, motorists have complained of traffic queues stretching back to the Quincentenary Bridge and Corrib Park.

And now the Council has rowed back on its consultants’ claims that the junction would increase capacity by 15% and reduce waiting times by 25%.

Former mayor and local taxi driver, Cllr Frank Fahy, told the Galway City Tribune that given the negative impact of the junction on traffic, the €5 million spent on the project represented ‘very poor value’ as regards taxpayers’ money.

“I will admit that the junction is now safer for pedestrians in that they can hit a button to give them a safe crossing, but since it opened there have some very serious traffic tailbacks,” said Cllr Fahy.

However, City Council Acting Director of Services for Transport, Uinsinn Finn, told the Galway City Tribune that the new junction needed time to ‘bed in’ with a familiarisation process.

“The main objectives of this project were to make far safer for pedestrians and cyclists to negotiate, as well as making it safer for motorists too, without impacting [negatively] on the traffic flow,” said Mr Finn.

He added that since it opened – and over the coming few weeks – data on all aspects of how the junction was functioning would be compiled which could involve changes to light sequencing, lanes and peak traffic flows.

One motorist who contacted this newspaper said that the daily “nightmare” journey from the Barna Road to the Headford Road during the morning peak traffic time had added up to 40 minutes to his journey time.

“The two lanes are regularly gridlocked from the junction, back the N6, over the Quincentenary Bridge and back to Corrib Park.

“In the mornings, it’s now easier to go down Taylor’s Hill and into town, past Eyre Square and up Bohermore to get down to the Headford Road.

Councillors were told by consultants in 2017 and again in 2018 – when they voted to proceed with the changeover to a junction – that average delays would be reduced by 25% and junction capacity would increase by 15%.
This is a shortened preview version of this article. To read the rest of the story, see this week’s Galway City Tribune. You can buy a digital edition HERE.

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CITY TRIBUNE

Man hospitalised following Eyre Square assault

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Gardaí have appealed to the public for information into an assault in Eyre Square last weekend which led to a young man being hospitalised.

The victim of the assault – a man in his early 20s from the city area – suffered a cut to his knee and may have had a substance sprayed towards his eyes.

Following the incident – that occurred close to the Eyre Square taxi rank shortly after midnight on Saturday night last – the victim was taken by ambulance to University Hospital Galway.

It is understood that the victim was released later that morning and has made a full recovery. This week, Gardaí are poring over CCTV footage in an effort to try and identify the perpetrators of the assault.

The assailants are understood to have fled on foot after the incident towards St Patrick’s Avenue on the east side of Eyre Square.

A Garda spokesperson has appealed for anyone who was in the vicinity of the taxi rank on Eyre Square between 12 midnight and 12.30am on the Sunday morning (Saturday night) of July 25 last, and who may have witnessed the incident to contact them.

(Photo: the assailants fled on foot towards St Patrick’s Avenue off Eyre Square)
This is a shortened preview version of this article. To read the rest of the story, see this week’s Galway City Tribune. You can buy a digital edition HERE.

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CITY TRIBUNE

Council turns down controversial phone mast plan

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From this week’s Galway City Tribune –  Galway City Council has refused an application by Eircom to erect a 12-metre telecoms mast in a housing estate in Knocknacarra.

The local authority turned down the company’s application for planning permission to install the structure in the heart of Drom Óir over concerns that it would create a visual obstruction in a residential area – and would have a detrimental impact on property prices.

Eircom had also sought retention to keep a concrete foundation for the mast in situ after it was forced to abandon works earlier this year, amid protests from residents in Drom Óir and Leitir Burca. This was also rejected.

City planners issued the company with a warning letter in April to cease works after contractors on site drew the ire of nearby residents, who accused Eircom of seeking to install the mast ‘by stealth’.

A total of 26 letters of objection were submitted to the Council from residents of the two estate.
This is a shortened preview version of this article. To read the rest of the story, see this week’s Galway City Tribune. You can buy a digital edition HERE.

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