News and Publications
Examinership Proceedings: Do Costs Follow the Event?
Ordinarily, in civil proceedings a successful party in litigation will be awarded their costs
Blow for Commercial Tenants in Irish High Court Ruling
Foot Locker Retail Ireland Limited v Percy Nominees Limited [2021] IEHC 749 Introduction In a judgment that will be of interest to commercial landlords, tenants and businesses generally, the Irish Commercial Court has ruled that the doctrine of partial frustration does not exist in Irish law
Debts Subject to Personal Guarantees in Examinership
The existence of a personal guarantee over a debt may affect the enforceability of that debt after a company has gone through an examinership process
SCARP Update: New Rescue Process Now Available
The new formal rescue process for small and medium sized companies, SCARP, is now formally a part of Irish law
High Court Refuses Winding up Petition for Non-Payment of Rent
The High Court recently refused a winding up petition brought by a landlord against a tenant company that had not paid rent on its commercial premises for more than a year
SCARP Bill Passes the Houses of the Oireachtas
The Companies (Rescue Process for Small and Micro Companies) Bill 2021 has now passed both houses of the Oireachtas
SCARP – Government announces approval of Bill
The Government has issued a press release stating that it has approved the publication of an upcoming Bill providing the legislative basis for a new insolvency process: the Small Company Administrative Rescue Process (“SCARP”)
New Small Company Administrative Rescue Process
General Scheme Published
Scheme of Arrangement Approved for Multinational Aircraft Leasing Business
Nordic Aviation DAC [2020] IEHC 445 In late 2020 the Commercial Division of the High Court approved a Scheme of Arrangement (Scheme) in respect an Irish-based aircraft leasing business Nordic Aviation Capital (NAC)
Priority Drafting of Legislation Announced to Create New Restructuring Process
The Minister of State for Trade Promotion, Digital and Company Regulation, Robert Troy TD, announced earlier this week the priority drafting of new legislation to introduce a new restructuring process
New Corporate Restructuring Process for Small Companies: Public Consultation
There are plans to establish a new corporate rescue procedure for small companies
UK CVAs May Not Necessarily Apply in Ireland
Apperley Investments Limited & Others v Monsoon Accessorize Limited [2020] IEHC 523 The Commercial Court has refused to apply the provisions of a Company Voluntary Arrangement (“CVA”), negotiated pursuant to the Insolvency Act 1986 in the UK, to Irish landlords as it would be “manifestly contrary to the public policy of the State”
Corporate Restructuring and Recovery Options: Part 4 - Schemes of Arrangement
The streamlining of the Schemes of Arrangement (Schemes) process under the Companies Act 2014 (CA 2014) provides an option for corporate restructuring and recovery, which may not have been feasible for some companies or corporate groups in the past
Data Protection Considerations for Liquidators
Most companies now hold large volumes of personal data – it is almost inevitable due to the interplay between technology and business
Directors Duties and Liabilities: Statement from the ODCE
Since the beginning of the COVID-19 crisis, concerns have been raised by directors and bodies representing directors regarding potential liabilities directors may face by allowing businesses to continue to trade where there is a risk of insolvency
Corporate Restructuring and Recovery Options Part 3: Examinership
The sometimes controversial Examinership process, established in 1990, remains a very important tool for Irish companies with viable businesses that find themselves in financial difficulties
Trading While Insolvent
The existence of directors’ and officers’ insurance cover does not absolve directors of their responsibilities
Corporate Restructuring and Recovery Options Available: Part 2 - Mergers and Divisions
As part of our series of articles on restructuring options available for Irish companies in light of economic pressures caused by the COVID-19 pandemic, this article focuses on domestic mergers and divisions under Irish law, the possible advantages it might give for your business, and an outline of the steps involved
Overview of Corporate Restructuring and Recovery Options Available Under Irish Law - Part 1
As the novel coronavirus COVID-19 continues to disrupt economic activity in Ireland businesses are reviewing their corporate structures and funding arrangements to deal with the crisis
Retention of Title Clauses in the Context of the COVID-19 Crisis
The current COVID-19 pandemic has resulted in potentially severe economic consequences being faced by many businesses
COVID-19: Restructuring of Company Debt
Some businesses may soon (and indeed already) be faced with sudden cash flow and liquidity issues as a result of the sudden economic disruption caused by the COVID-19 pandemic
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