Legal News (Insolvency & Restructuring)

The Office of the Director of Corporate Enforcement (ODCE) recently issued new guidance outlining the implications of COVID-19 on its insolvency related functions.

Hayes recently successfully defended a Liquidator in an action by a shareholder of a company to remove him in a long running complex liquidation of a company with foreign subsidiaries and assets.

On 16 April 2020 the Insolvency Committee of the Consultative Committee of Accountancy Bodies – Ireland issued guidance for insolvency practitioners in relation to the holding of meetings of creditors under Section 587.

The recent Supreme Court decision in ACC Loan Management v Mark Rickard and Gerard Rickard has confirmed that a judgment creditor may apply to court to appoint a receiver by way of equitable execution over future entitlements due to a judgment debtor, such as the EU Basic Payment Scheme (“BPS”).

The 30th anniversary of the examinership process in Ireland is approaching and it’s a good time to reflect on the development of the process, where it stands now in Irish commercial life and the alternatives that exist.