The High Court ruled that John Gaffney, with debts of €54.6 million, would have the majority written off, allowing his family to remain in their home.
Mr Gaffney's creditors, including prominent financial organizations, were only set to recover a little over €6,000, marking it as significant under personal insolvency laws.
Despite nearly losing everything, Gaffney has resumed operations in the bar industry, maintaining shares and employment in several pub-related companies.
This ruling represents one of the largest debt write-offs under the personal insolvency legislation established to address financial crises following the Celtic Tiger's end.
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