Insolvency and Corporate Recovery

Our Restructuring and Insolvency team works with a range of stakeholders on all aspects of insolvency and corporate restructuring to find practical solutions to challenging financial and business scenarios.

We advise leading insolvency practitioners, major accountancy firms, domestic and foreign banks, NAMA, loan servicers and NPL funds on a regular basis. We also advise companies, creditors, shareholders and company directors on all aspects of corporate restructuring and insolvency. Our extensive expertise in national and cross-border insolvency matters includes examinerships, receiverships, liquidations (voluntary and involuntary), scheme of arrangements and bankruptcies. Our services include advising company directors on matters such as reckless trading, fraudulent trading, misfeasance and restriction or disqualification. We act for shareholders in exercising their legal rights against companies or directors who have engaged in wrongful conduct or minority oppression. We have significant experience in advising domestic and foreign secured creditors on their security enforcement and distressed asset recovery.

We offer a team of specialists selected to meet the needs of each situation. Experienced solicitors from our litigation and dispute resolution, banking and financial services, real estate, employment, regulatory and taxation practices regularly work alongside our restructuring and insolvency experts as required for particular mandates.

Our experience includes advising:

• An ad hoc syndicate of international institutional secured lenders to Nordic Aviation Capital (largest regional aircraft lessor in the world) in relation to its ongoing restructuring through chapter 11 in the US.
• The indenture trustee with respect to a series of guaranteed noteholders claims in the examinership of Mallinckrodt Plc (noteholders claims of c. USD $1 billion) and several series of unsecured notes (totalling approximately USD $7.4 billion) in the examinership of Weatherford International Plc.
• Creditors in the examinership of Norwegian Air.
• Financial services clients in relation to a fraud perpetrated through the use of cloned websites.
• A key corporate participant in a Commission of Investigation chaired by Mr Justice Brian Cregan to investigate certain transactions, activities and management decisions within IBRC.
• The investor in the examinership of Compu b.
• Investors and fund service providers in litigation worth in excess of $1 billion arising from the Bernard Madoff fraud.
• A range of regulated firms in relation to investigations and settlements under the Central Bank’s Administrative Sanctions Procedure.
• A liquidator in ongoing Commercial Court proceedings, prosecuting a claim for Missing Trader Intra-Community VAT fraud (MTIC Fraud) against certain stakeholders.
• On an application for the enforcement and recognition of a foreign arbitral award of almost $280 million in the Commercial Court.
• A US institutional creditor in the bankruptcy of Sir Anthony O’Reilly, including with regard to associated litigation in Ireland arising from his bankruptcy in the Bahamas.
• Secured lenders and receivers in successfully defending challenges by debtors to the validity of the appointment of receivers over those debtors’ assets and acting for receivers in injunction proceedings restraining debtors from interfering with the receivers’ work.
• NAMA on the insolvency aspects of a number of its loan portfolio sales, including Project Arch, Project Emerald / Ruby and Project Gem.
• All the major loan servicers active in the Irish market appointed to service acquired loan portfolios.
• Liquidators of numerous official and voluntary liquidations.
• Directors on disqualification and restriction procedures.