Liquidation And Examinership

McCann FitzGerald partners Lisa Smyth and David O'Dea examine a first-of-its-kind decision by the Irish High Court to appoint an examiner to a company based in Northern Ireland. On 11 July 2023, Mr Justice Michael Quinn delivered his judgment in the matter of Mac-Interiors Limited (High Court Record

The Companies (Rescue Process for Small and Micro Companies) Bill 2021 has passed through all the legislative stages in the Oireachtas and will now be sent to the president for signature. The bill will amend the Companies Act 2014 to provide a new dedicated rescue process for small and micro-co

William Fry partner Ruairi Rynn and senior associate Niamh Cacciato consider the impact of SCARP on landlords. In a recent article we set out the key features of SCARP, the government's proposed rescue process for small and micro companies. The proposed legislation envisages that:

The Court of Appeal has ruled that the petitioners to an unsuccessful examinership application must pay 50 per cent of the opposing creditor’s costs in the proceedings. In reaching this conclusion, the court accepted that there was an important public interest aspect to the proceedings but tha

Matthew Austin and Mary Gill of Hayes solicitors LLP explain how the proposed new rescue process for small and micro businesses will operate. The Department of Enterprise Trade and Employment announced on 10 May 2021 that it has secured government approval for the priority drafting of the Companies

The government has set out more details of its plans to allow the vast majority of companies in Ireland to be rescued without applying to the courts. The Companies (Small Company Administrative Rescue Process and Miscellaneous Provisions) Bill 2021 will amend the Companies Act 2014 to allow small an

Legislation allowing the vast majority of companies in Ireland to be rescued without applying to the courts will be drafted as a matter of priority. Robert Troy, minister of state in the Department of Enterprise, Trade and Employment, yesterday announced he had secured government approval for the pr

The vast majority of companies in Ireland are set to benefit from a proposed new stand-alone process which will allow for them to be rescued without going to court as part of the examinership process. The proposed "summary rescue process", now out for consultation, was designed by the Company Law Re

The High Court has granted an application by Norwegian Air to appoint an examiner over six companies in the Norwegian Group. The court noted that the struggling company had met serious challenges in recent times, with the airline only having six planes in use due to the coronavirus pandemic. The cou

The law on examinership should be amended to introduce an "examinership-lite" option for small businesses struggling in the aftermath of the COVID-19 pandemic, an Oireachtas committee has said. The proposal is one of 19 recommendations made by the Oireachtas special committee on COVID-19 response in

Accountant Sarah-Jane O'Keeffe has become the first woman in Ireland to be appointed as an examiner, just one day after a High Court judge made a significant appeal for gender balance. Ms O'Keeffe, who works for Baker Tilly, was appointed by Trim Circuit Court as interim examiner to the Eastern Seab