Last month the governing financial institution were granted enforcement orders against Smart Resolution Mediation Ltd and Clonmel C&R Management Ltd preventing them from providing debt management services.
The Central Bank's court proceedings stemmed from a warning it issued last August – against Smart Resolution stating it wasn't authorised to operate as a debt management firm – and to do so was a criminal offence.
Then in December the Central Bank was granted enforcement orders to prevent the Cashel based company and another- Clonmel C&R Management Limited – of 12 Ash Court Clerihan from operating as debt management firms – and then several weeks issued another statement reminding clients of either company that the order remained in place.
It also urged them to reengage with their lenders or use an authorised debt management service.
Smart Resolutions – which is taking separate action against the Central bank -says its restrained from providing any service to clients and any monies received heretofore have been in respect to services already provided.
It also points out that its been introducing its clients to another debt managment firm.
The issue is back before the high court today.
