Corporate Restructuring & Insolvency

Our Insolvency & Corporate Recovery Group provides a comprehensive service on all aspects of insolvency (including contentious insolvency), corporate recovery and personal bankruptcy. The team is involved in many of Ireland’s recent high profile insolvencies and corporate restructurings.

Our specialist team advises leading Irish and international insolvency practitioners (liquidators, receivers, examiners, administrators and trustees), financial institutions, investors, creditors (secured and unsecured), directors, shareholders and other stakeholders in restructuring or business termination events. We use our experience to design and implement innovative commercial solutions in this complex field.

While we act in all sectors, we have specific experience in aviation, manufacturing, retail, financial services, technology and property-based businesses. We also have particular expertise in the conduct of complex insolvency assignments with cross-border dimensions.

 

Our team has been involved in some of Ireland's most significant and high profile insolvencies and restructurings. Our recent experience includes:

  • acting for Naval Energies SAS in petitioning the High Court for the appointment of Joint Liquidators to the OpenHydro Group and resisting a petition for examinership presented by certain minority shareholders;
  • advising NAMA appointed receiver, Declan MacDonald of PwC, in defence of proceedings issued by a property developer;
  • acting for the Karen Millen Group in its acquisition of certain Coast assets from the provisional liquidator of the Irish entity following administration of the parent; 
  • advising EY as the Joint Administrators of Nortel Networks (Ireland) Limited;
  • acting for DVB Bank SE in the share enforcement of Irish entities in the Alitalia group structure;
  • acting for PK Airfinance SARL in the share enforcement of Irish entities in the Alitalia group structure;
  • acting for Kieran Wallace of KPMG as Share Receiver of certain Quinn group companies, following his appointment to this role by IBRC;
  • advising the Irish public private partnership joint venture, Inspiredspaces Bundle 5 (Ireland) Limited, on the fallout from the high profile collapse of its joint venture partner, Carillion plc, and the liquidation of Sammon Contracting Ireland Limited;
  • advising a number of retailers through successful examinership processes, including:
    • Mothercare Ireland Limited;
    • Debenhams Retail (Ireland) Limited;
    • B&Q Ireland Limited;
  • acting for Neil Hughes of Baker Tilly Hughes Blake as Examiner of FCR Media Limited and related companies, which operates the Golden / Yellow Pages and telephone directory business in Ireland;
  • acting for Neil Hughes of Baker Tilly Hughes Blake as Interim Examiner of Yvolve Sports Limited (the manufacturer and supplier of the Flicker Scooter);
  • acting for Neil Hughes of Baker Tilly Hughes Blake as Examiner of Regan Development Limited (The Regency Hotel);
  • advising the Airplane Group on its long term wind down and ultimate appointment of Liquidators following the conclusion of litigation in New York;
  • acting for George Maloney of RSM Ireland as Liquidator of Eurosurgical Limited and in related asset recovery proceedings;
  • advising CBL Insurance Europe DAC on the liquidation of its principal reinsurer and its consequent administration under Irish law;
  • advising Afilias plc on the successful implementation of a scheme of arrangement to restructure the holding of its share capital;
  • advising in relation to the high profile Quinn International Property Group (under new management) on the retrieval of its international property portfolio including significant assets in Ireland, England, The Czech Republic, Russia, Ukraine and India;
  • acting for the directors of a company that operated a retail store in disqualification / restriction proceedings;
  • advising stakeholders in numerous retail insolvencies and restructurings, including:
    • Bradley Pharmacy Group;
    • Monsoon Accessorize Ireland Limited;
    • H.M.V. Ireland Limited;
    • Xtra Vision Limited;
    • House of Fraser;
    • Carpetright plc.

No Requirement to Issue New Demand Letter Following Transfer of Loan

Earlier this year the High Court held that there was no requirement for a new demand letter to be issued by a transferor to a borrower following the transfer of a loan


Court of Appeal Reduces Liquidator's Fees in Respect of Six-year Liquidation which were Deemed "Neither Reasonable nor Necessary"

Earlier this year the Court of Appeal reduced a bill of €1.8 million in respect of the fees of a Liquidator on the basis that certain fees were "neither reasonable nor necessary."


High Court Seeks Clarification From Court of Appeal Regarding a Family Home Possession Order

The recent hearing of an appeal on a Circuit Court decision refusing a family home possession order has raised questions before the High Court and clarification has been sought from the Court of Appeal


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We are consistently ranked as one of the leading Insolvency and Corporate Recovery law firms in Ireland.

Department

  • One client remarks: "They respond in a timely manner and avoid last-minute panic. The quality of the work is excellent and you can clearly see that they take time to ensure they understand the instruction and listen to the client's views and concerns." Sources also note: "They are very easy to work with, have the insolvency knowledge that we require and are responsive." Chambers Europe, 2018
  • Clients appreciate the depth of the practice, with one client praising its ability to "offer a wide range of service capabilities" with another commending "the extent to which the firm could draw on a variety of different specialisms as the need arises."
  • Clients value the level of partner contact they have experienced, noting: "Their availability is something that is always appreciated." Chambers Europe 2017
  • A long-established and well-respected firm, with experienced solicitors who have in-depth knowledge of legislation. Not only are the lawyers technically proficient, but they are also commercially minded in arriving at possible solutions. "The firm provides an excellent service, offering quality advice and strong leadership. The team is one of the most responsive of all the big firms." Chambers Europe 2016
  •  "Very good at assessing the risks in cases, telling you about pitfalls and weak points early on to flag them up. The client service is also very good, particularly the turnaround times and proactive approach."  Chambers Europe, 2015 

Team

Fergus Doorly

  • Fergus is deeply respected by market commentators, who consider him to be a highly experienced practitioner in this field. He has notable experience of examinerships, liquidations and receiverships and routinely represents directors and shareholders of insolvent companies.  Chambers Europe 2018 
  • Clients consider Fergus to be "strategically and tactically very good" in corporate litigation. Chambers Europe 2017
  • "Fergus Doorly is a superb lawyer.  His advice is reasoned, considered and delivered in a calm reassuring way. He knows the court system and can anticipate problems well in advance,”  IFLR 100 2017
  • Market commentators state "He is really good at identifying pitfalls for the client and will suggest innovative, unprecedented and adventurous techniques. He gives strategic input by taking an objective viewpoint on whether or not a new approach might logically work, even if it has not been tried before." Chambers 2016 
  • Fergus Doorly is praised for his "sensible and down-to-earth approach" to restructuring and insolvency matters.  Chambers Global, 2015 
  • Fergus has worked on a case that was ranked in the FT Innovative Lawyers Publication in 2015
  • Fergus Doorly is valued for his strong advice and skill in contentious matters. Clients note: "He understands the process and can deal with the other side to get things knocked along fast and efficiently." Chambers Global, 2014 
  • Insolvency litigator Fergus Doorly is praised for his ‘calm analysis and tactical clarity’. Legal 500 EMEA, 2014

Ruairi Rynn

  • Ruairi  is singled out for praise by market commentators, who note: "He is commercial, practical and technically quite strong," adding that "clients find him very good to deal with." Chambers Europe 2018
  • Ruairi is described as “a very talented associate who handles matters efficiently and has the potential to be a rising star.” IFLR 1000 2018
  • As an Associate Ruairi was ranked as a "Next Generation Lawyer" for Insolvency and Corporate Recovery in the Legal 500 2017 and an "Associate to Watch" by Chambers Europe 2017.

Craig Sowman

  • Craig has been ranked as a "Next Generation Lawyer" for Insolvency and Corporate Recovery in  Legal 500.

Key Contacts

Fergus Doorly Partner

Ruairi Rynn Partner

Craig Sowman Partner

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