KKO 2190/2001 AI generated

Supreme Court dismissed appeal; ordinary debt repayment plan duration reduced below five years due to changed circumstances.

Case Number KKO 2190/2001

Court / Authority Korkein oikeus

Jurisdiction

Finland (FI)

Decision Date 22.10.2001

Outcome Dismissed

Open official source Machine-readable Markdown (.md)

Legislator summary

AI generated

The Supreme Court dismissed the appeal regarding the duration of an ordinary debt repayment plan. The appellant argued for a five-year term, but the lower court found that changed circumstances justified a shorter period. The court upheld the reduction, emphasizing that repayment plans must reflect the debtor's actual ability to pay at the time of modification.

Legislator headnote

AI generated

Section 10 of the Act on Debt Repayment Plans; Section 11 of the Act on Debt Repayment Plans: A court may reduce the duration of an ordinary debt repayment plan below the statutory maximum if the debtor's financial situation has materially improved or circumstances have changed, provided the reduction is necessary to ensure the plan's feasibility.

Keywords

AI generated

ordinary debt repayment plan duration reduction changed circumstances financial ability to pay Supreme Court of Finland debt restructuring repayment schedule modification