Man facing tax probe in Germany declared bankrupt in Ireland with debts of 27m

"Growing number of EU nationals filing for bankruptcy here due to Ireland's more lenient regime"

"A foreign national declared bankrupt by the High Court with debts of €27.2m is under criminal investigation in his native Germany over his tax affairs. In an affidavit filed with the court, Mohsan Holzinger (35) disclosed the existence of the investigation, which relates to potential Vat liabilities."

Ireland's comparatively lenient bankruptcy regime is attracting a growing number of EU nationals to file for bankruptcy in Ireland. A foreign national was declared bankrupt by the High Court with debts totaling €27.2m. That individual is under criminal investigation in Germany concerning tax affairs. The individual disclosed the existence of the investigation in an affidavit filed with the court. The disclosed investigation relates to potential Vat liabilities. The situation demonstrates cross-border interactions between insolvency proceedings in Ireland and tax enforcement actions in other EU member states.

Read at Independent