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Bulk of those engaging in the process were from Germany
The Insolvency Service of Ireland report shows that of the 85 individuals to declare themselves bankrupt here in 2025 37 involved debtors originating from other EU member states “and the vast majority from Germany, with all their debt situated outside Ireland”.
Photograph: Gety ImagesThe trend of European Union nationals declaring themselves bankrupt in the Republic accelerated in 2025, according to the 2025 annual report by the Insolvency Service of Ireland . The report shows that of the 85 individuals to declare themselves bankrupt here in 2025, 37 involved debtors originating from other EU member states “and the vast majority from Germany, with all their debt situated outside Ireland”.
Bankruptcy here usually lasts one year and the report shows that the 85 who declared themselves bankrupt last year was a 20 per cent increase on the 71 to declare themselves thus in 2024. AI companies are starting to sound desperate, and that’s not a good lookMeta’s huge settlement and how useful is an open plan office?
The report states that this trend has led to an increased number of investigations into assets located outside of the jurisdiction of Ireland and a growing focus on cross-border insolvency issues and harmonisation efforts across EU member states. In 2025, 79 debtors self-petitioned the High Court for bankruptcy, a 16 per cent increase on 2024, the report said. The ISI employed 78 people in 2025 and almost half of the ISI workforce of 36 are in its bankruptcy division.
The report said that assets with a value of €5.66 million were realised from 200 bankruptcy estates in 2025. It states that €3.674 million was received from movable assets and other sources, and €1.98 million was realised from the sale of land and buildings. The report states that three family homes were revested in former bankrupts under the three-year rule.
The report states that post-adjudication, the official assignee A will continue the policy of vigorously pursuing the recovery of undeclared assets. It states that during 2025, 32 new investigations were undertaken. In many instances, investigations have resulted in the identification of undisclosed assets such as bank accounts, cars, properties, rental income, and transfers of assets before bankruptcy.
The report states that in 2025, proceedings for non-cooperation resulted in bankruptcy term extension orders in six cases. Seventy five people exited bankruptcy last year. The report noted that ISI statistics “show that the personal insolvency framework is predominantly supporting ordinary people facing more typical, but unsustainable, financial pressures”. Q&A: Meta settled its US case.
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