Declare Yourself Bankrupt Ireland
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Report on the UNCITRAL Model Law
COMPANY LAW REVIEW GROUP UNCITRAL MODEL LAW ON CROSS-BORDER INSOLVENCY November 2018| 1 November 2018| 2 Contents Page Chairperson’s Letter to the Minister ................................................................................ 6 Executive Summary .......................................................................................................... 7 Chapter 1. Introduction .................................................................................................... 8 1.1 The Company Law Review Group ................................................................. 8 1.2 CLRG Work Programme 2018-2020 .............................................................. 8 1.3 Cross-border Insolvency ................................................................................ 8 1.4 The UNCITRAL Model Law ............................................................................. 9 1.5 Context for the potential adoption of UNCITRAL Model Law on Cross Border Insolvency in Ireland ................................................................ 11 1.6 The Scope and Application of the Model Law in an Irish Context .............. 11 1.7 General Approach ....................................................................................... 12 Chapter 2. Cross-border Corporate Insolvency Law in Ireland ...................................... 13 2.1 Introduction ................................................................................................ 13 2.2 Section 1417, Companies Act 2014 ............................................................ -
Neutral Citation No
Neutral Citation No. [2012] NICh 15 Ref: McCL8486 Judgment: approved by the Court for handing down Delivered: 03/05/12 (subject to editorial corrections)* IN THE HIGH COURT OF JUSTICE IN NORTHERN IRELAND CHANCERY DIVISION __________ IN THE MATTER OF INSOLVENCY (NI) ORDER 1989 IN THE MATTER OF DEMESNE INVESTMENTS LIMITED BETWEEN: QUINN FINANCE First Plaintiff; -and- IRISH BANK RESOLUTION CORPORATION LIMITED Second Plaintiff; -and- QUINN HOTELS PRAHA AS Third Plaintiff; -and- DEMESNE INVESTMENTS LIMITED Fourth Plaintiff; -and- LYNDHURST DEVELOPMENT TRADING SA First Defendant; -and- INNISHMORE CONSULTANCY LIMITED Third Defendant; -and- PUBLIC JOINT STOCK COMPANY UNIVERMAG UKRAINA Fourth Defendant; __________ 1 McCLOSKEY J Introduction [1] I refer to the court’s separate judgment in the recusal application mounted in the course of the contempt proceedings brought by the Plaintiffs against one of the Defendants herein (“Lyndhurst”) and two individuals said to have been acting as their agents. That satellite judgment and the current substantive judgment are handed down on the same date. The Proceedings [2] The subject matter of the Plaintiffs’ claims is a series of inter-related purported assignments of a single loan and so-called “supplementary loan agreements” (hereinafter described as “the impugned transactions”). The Plaintiffs make the case that the impugned transactions were unlawful and seek relief accordingly, under Article 367 of the Insolvency (Northern Ireland) Order 1989 and otherwise. The Defendants are Lyndhurst, Innishmore Consultancy Limited (“Innishmore”) and Public Joint Stock Company Univermag Ukraina (“Univermag”). The Mareva Injunction [3] Initially, the court embarked upon the hearing of a contempt motion initiated by the Plaintiffs. The impetus for the contempt motion was an order of this court, in the form of a Mareva injunction, made by me on 23rd December 2011. -
Determination Ofmergernotificationm/19
DETERMINATION OF MERGER NOTIFICATION M/19/036 – IBRC/SLIEVE RUSSELL & QFHU Section 21 of the Competition Act 2002 Proposed acquisition by Irish Bank Resolution Corporation Limited (in Special Liquidation) of sole control of Slieve Russell Hotel Limited and Quinn Finance Holding Unlimited Company Dated 13 December 2019 Introduction 1. On 18 November 2019, in accordance with section 18(1)(a) of the Competition Act 2002, as amended (the “Act”), the Competition and Consumer Protection Commission (the “Commission”) received a notification of a proposed acquisition whereby Irish Bank Resolution Corporation Limited (in Special Liquidation) (“IBRC”) would acquire sole control of Slieve Russell Hotel Limited (“SRHL”) and Quinn Finance Holding Unlimited Company (“QFHU”) (together the “Target Companies”) (the “Proposed Transaction”). Both SRHL and QFHU are currently part of the Quinn International Property Group. The Proposed Transaction 2. The Proposed Transaction is to be implemented pursuant to two agreements, as follows: • a share transfer agreement dated 6 November 2019 between IBRC, Kieran Wallace (in his capacity as joint special liquidator to IBRC1) and Brenda Quinn whereby IBRC will acquire the entire issued share capital, and thus sole control, of SRHL; and • a share transfer agreement dated 6 November 2019 between IBRC, Kieran Wallace (in his capacity as joint special liquidator to IBRC2) and each of Aoife Quinn, Brenda Quinn, Colette Quinn, Ciara Quinn and Sean Quinn Junior (collectively the “Quinn 1 Kieran Wallace was appointed as joint special liquidator to IBRC pursuant to an Order of the Minister for Finance made on 7 February 2013 under the terms of the Irish Bank Resolution Corporation Act 2013. -
IOPH Men's Health Booklet 08/06/2006 12:31 Page 1
IOPH Men's Health Booklet 08/06/2006 12:31 Page 1 Contents Organisations: Acorn Community Development Project 6 Age Concern Northern Ireland: Actively Ageing Well 7 AMEN 8 Ardoyne/Shankill Health Partnership 9 AWARE 10 Ballybeen Men In Focus 11 Ballyclare Community Concerns 12 Ballymun Men’s Centre Ltd 13 Belfast Brook Advisory Centre 14 Beyond Borders Project, Dundalk IT 15 Bodywhys – The Eating Disorders Association 16 Brothers of Charity Services 17 Cavan/Monaghan Hospital Group 18 CIE 19 Cancer Choices 20 Centre for Young Men’s Studies 21 Cloona Oasis Centre 22 Construction Workers Health Trust 23 Co-operation and Working Together (CAWT) 24 COSC 25 County Leitrim Partnership 26 Derg Valley Care Ltd 27 Dry Arch Centre for Families 28 Dundalk Outcomers 29 East Belfast Community Health Information Project 30 Eastern Area Health Promotion Communication, Resource and Information Service 31 Eastern Health and Social Services Board 32 Everyman 33 Father’s Matter Project 34 Forever Fathers 35 Gay Community News 36 IOPH Men's Health Booklet 08/06/2006 12:31 Page 2 Gender Equality Unit 37 Health for Youth through Peer Education (HYPE) 38 Health Promotion Unit, Department of Health and Children 39 HIV Support Centre 40 HSE North Eastern Area 41 HSE Dublin North East 42 HSE North Western Area 43 HSE Southern Area 46 HSE West 50 Include Youth 53 Interagency Group 54 Lár Iona Folláin Fir, Dundalk Institute of Technology 55 Irish Heart Foundation 56 Joe Armstrong 57 Keiran McKeown - Social & Economic Research Consultant 58 Larne Community Development -
Section 141 Consultation Tackling Problem Debt, Together
Section 141 Consultation ISI Submission to the Department of Justice and Equality June 2017 ISI Tackling problem debt, together This page is left intentionally blank Insolvency Service of Ireland – Section 141 Submission – June 2017 Page 2 Insolvency Service of Ireland Submission to the Department of Justice and Equality in response to the consultation arising from Section 141 of the Personal Insolvency Act Table of Contents 1 Executive Summary ................................................................................................. 9 2 Introduction........................................................................................................... 13 2.1 Terms of Reference for the Review ........................................................................... 13 2.2 Approach to the submission ..................................................................................... 13 2.3 Overview of the submission ...................................................................................... 13 2.4 Contents of the submission ....................................................................................... 14 3 The Debt Landscape and International Comparisons ........................................... 17 3.1 Introduction .............................................................................................................. 17 3.2 The Debt Landscape 2012 to the Present ................................................................. 17 3.2.1 Central Bank Data ......................................................................................................... -
Europe, Middle East and Africa Restructuring Review 2020 Africa Restructuring Review 2020
INSIGHT Europe, Middle East and Europe, Middle East and Africa Restructuring Review Europe, Africa Restructuring Review 2020 2020 © Law Business Research 2020 EUROPE, MIDDLE EAST AND AFRICA RESTRUCTURING REVIEW 2020 Reproduced with permission from Law Business Research Ltd This article was first published in December 2020 For further information please contact [email protected] © Law Business Research 2020 Published in the United Kingdom by Global Restructuring Review Law Business Research Ltd Meridian House, 34-35 Farringdon Street, London, EC4A 4HL © 2020 Law Business Research Ltd www.globalrestructuringreview.com To subscribe please contact [email protected] No photocopying: copyright licences do not apply. The information provided in this publication is general and may not apply in a specific situation. Legal advice should always be sought before taking any legal action based on the information provided. This information is not intended to create, nor does receipt of it constitute, a lawyer–client relationship. The publishers and authors accept no responsibility for any acts or omissions contained herein. Although the information provided was accurate as at November 2020, be advised that this is a developing area. Enquiries concerning reproduction should be sent to Law Business Research, at the address above. Enquiries concerning editorial content should be directed to the Publisher – [email protected] © 2020 Law Business Research Limited ISBN: 978-1-83862-275-6 Printed and distributed by Encompass Print Solutions Tel: 0844 2480 112 © Law Business Research 2020 Contents Preface ...................................................................................v Editor’s introduction ................................................................... 1 Céline Domenget Morin and Bruno Pousset Goodwin Aviation: Cramming Cape Town Creditors ........................................6 Karen McMaster, Ben Andrews and James Cameron Milbank LLP England and Wales: a Landmark Year for Legislative Reform .............. -
Performance Delivery Agreement 2021 Between the Insolvency
Performance Delivery Agreement 2021 between The Insolvency Service of Ireland and The Department of Justice 1 1 Introduction This Performance Delivery Agreement (PDA) has been drawn up by the Insolvency Service of Ireland (ISI) in consultation with the Department of Justice (“the Department”) in accordance with the 2016 edition of the Code of Practice for the Governance of State Bodies (“Code of Practice”). It, together with the separate but related Oversight Agreement (OA), succeeds the previous Performance Delivery Agreement 2020 between the two parties. This Performance Delivery Agreement shall be reviewed and updated annually, and will be utilised to formalise the process through which the outputs and outcomes required from the ISI can be measured and assessed. As per the Code of Practice, with reference to PDAs, “These agreements will act as a performance contract between the parent Department and the State body in which an agreed level of performance/service is formalised and which will ultimately result in improved efficiency and effectiveness in the delivery of public services. The agreements allow for the adoption of both annual and multi-annual targets, and the development of output and outcome indicators, including milestones to measure performance against targets.” To achieve this, it is necessary to set out the following: • The key inputs, outputs and expected outcomes of the ISI’s activities, in quantitative, measurable terms; • Assessment of performance by monitoring of agreed targets, around those key outputs, inputs and outcomes. This Agreement documents the agreed level of service between the parties in order to facilitate improved effectiveness and efficiency of relevant public services. -
Strategic Plan 2019 - 2021
Insolvency Service of Ireland Strategic Plan 2019 - 2021 Insolvency Service of Ireland / Strategic Plan 2019 - 2021 Contents 1 Foreword 1 2 ISI Achievements for the period 2016 to 2019 2 3 Our Operating Environment 5 4 Vision, Mission and Values 6 5 Goals, Objectives and Key Performance Indicators 7 6 Organisational Structure 13 Insolvency Service of Ireland / Strategic Plan 2019 - 2021 1 Foreword As Director of the Insolvency Service of Ireland (ISI), I Goal 4: To design, plan and implement an am pleased to present, as required under Section 14 effective external communications strategy, of the Personal Insolvency Act 2012, our three-year raising awareness of bankruptcy and insolvency strategic plan covering the period 2019 to 20211. solutions amongst our target audience. This strategic plan is aimed at Government and Goal 5: To ensure effective corporate key stakeholders, including the Courts Service, governance, develop our staff and enhance insolvency practitioners, debtors, creditors and staff. organisational capability. The strategic plan for 2019 to 2021 identifies the Further details around these goals and the ISI’s priorities and objectives, which the ISI will pursue achievements over the last three years are outlined to achieve the five high-level goals that will ensure below. it delivers its statutory functions in accordance One factor not within the direct control of the ISI but with its vision of “A fresh start for people in debt”. which is key to achieving our strategic goals is the This strategic plan is aligned with the objective implementation of the legislative changes contained “To develop appropriate structures and systems in the ISI submission in 2017 to the Department of to handle mortgage arrears and other personal Justice and Equality. -
Coiste Thír Eoghain
CUMANN LÚTHCHLEAS GAEL Coiste Thír Eoghain an chomhdháil Bhliantúil 2019 Orduithe Seasaimh Don Chomhdháil (Standing Orders For Convention) CUMANN LÚTHCHLEAS GAEL In order that the proceedings of the Convention be carried out without delay, the following Standing COISTE THÍR EOGHAIN Orders will be observed: 1. The Proposer of a Motion or of an Amendment thereto may speak for five minutes, but not more A Chara than five minutes. 2. A Delegate speaking to a Motion or an Amendment must not exceed three minutes. Tionólfár an Chomhdháil Bhliantúil de Chumann Lúthchleas Gael, Contae Thír Eoghain ar an Garbhachadh ar an 10ú Nollaig 2019 ag tosnu ar 7.30 i.n. 3. The Proposer of a Motion or of an Amendment may speak a second time for three minutes before a vote is taken, but no other Delegate may speak a second time to the same Motion or Amendment. Mise, le fíor-mheas Damhnaic Mac Eochaidh 4. The Chairman may, at any time he considers a matter has been sufficiently discussed, call on the Pro- poser for a reply, and when that has been given a vote must be taken. Damhnaic Mac Eochaidh Rúnaí 5. A Delegate may, with the consent of the Chairman, move ‘that the question be now put’, after which, when the Proposer has spoken, a vote must be taken. 6. Standing Orders shall not be suspended for the purpose of considering any matter not on the Clár, CLÁR except by the consent of a majority equal to two-thirds of those present and voting. 1. Amhrán na bhFiann. -
Business Insolvency and the Irish Debt Crisis, 11 Rich
John Marshall Law School The John Marshall Institutional Repository Faculty Scholarship 1-1-2012 Business Insolvency and the Irish Debt Crisis, 11 Rich. J. Global L. & Bus. 407 (2012) Paul B. Lewis John Marshall Law School, [email protected] Follow this and additional works at: http://repository.jmls.edu/facpubs Part of the Bankruptcy Law Commons, Comparative and Foreign Law Commons, and the European Law Commons Recommended Citation Paul B. Lewis, Business Insolvency and the Irish Debt Crisis, 11 Rich. J. Global L. & Bus. 407 (2012). http://repository.jmls.edu/facpubs/343 This Article is brought to you for free and open access by The oJ hn Marshall Institutional Repository. It has been accepted for inclusion in Faculty Scholarship by an authorized administrator of The oJ hn Marshall Institutional Repository. BUSINESS INSOLVENCY AND THE IRISH DEBT CRISIS Paul B. Lewis* I. INTRODUCTION Among the volume of material written about the Irish debt cri- sis and its impact over the past few years, strikingly little has been written about the ability to save a financially distressed company under Irish law and whether corporate restructuring could have miti- gated some of the financial damage to Irish companies, particularly those in the property and construction industries. There is a reason for this. The number of filings under the Examinership law - the rough equivalent of Chapter 11 in the United States - remained small and relatively constant during both the recent boom and the more immedi- ate bust periods of the Irish economy. This article examines the Irish approach to corporate restructuring and questions whether the law could have been put to good effect over the past couple of years. -
Corporate Insolvency in Ireland
Corporate Insolvency in Ireland Table of Contents Page 1. Mechanisms of Corporate Insolvency 1 2. Liquidation 1 3. Functions of the Liquidator 3 4. Liquidation and Creditors’ Rights 3 5. Schemes of Arrangement 4 6. Examination 5 7. Effect of Examination 6 8. Examination and Secured Creditors 7 9. Powers of the Examiner 7 10. Receivership 8 11. Fraudulent Transactions and Reckless Trading 8 12. Asset Swelling Measures 10 13. Company Law Enforcement Act, 2001 12 14. European Communities (Corporate Insolvency) Regulations 2002 12 DISCLAIMER: This article is for general information purposes only and does not purport to represent legal advice. If you have any queries or would like further information relating to any of the matters addressed in this article, please refer to the contacts below or your usual contact in Dillon Eustace. Copyright Notice © 2007 Dillon Eustace. All rights reserved. Corporate Insolvency in Ireland 1. Mechanisms of Corporate Insolvency The primary legislation governing the law of corporate insolvency is contained in the Companies Acts, 1963 to 2006 and the Conveyancing and Law of Property Act 1881. The principal mechanisms for dealing with insolvent companies are as follows:- (a) Liquidation; (b) Examination; (c) Receivership. 2. Liquidation Liquidations are governed primarily by the Companies Act, 1963 (the “Principal Act”), Liquidation is a terminal process which sees the liquidation of the assets of the Company, payment of creditors and ultimately the dissolution of the company and its removal from the Company Register. The winding-up of a company under Irish law may be effected by one of the following: (i) Court liquidation; (ii) Creditors voluntary liquidation (where the company is insolvent); (iii) members voluntary liquidation (where the company is solvent). -
Neutral Citation No. DEE8396 2011 No. 133303 IN
Neutral Citation No. Ref: DEE8396 Delivered: (subject to editorial corrections) 2011 No. 133303 IN THE HIGH COURT OF JUSTICE IN NORTHERN IRELAND _________ CHANCERY DIVISION (BANKRUPTCY) _________ AND IN THE MATTER OF THE INSOLVENCY (NORTHERN IRELAND) ORDER 1989 BETWEEN: IRISH BANK RESOLUTION CORPORATION LIMITED Applicant; -and- JOHN IGNATIUS QUINN ALSO KNOWN AS SEAN QUINN Respondent. ________ DEENY J The proceedings [1] On 10 November 2011 the respondent John Ignatius Quinn, commonly known as Sean Quinn, filed a Debtor’s Bankruptcy Petition in the High Court of Justice in Northern Ireland requesting that a bankruptcy order be made against him pursuant to the provisions of the Insolvency (Northern Ireland) Order 1989 (“the Order”). [2] This petition was heard by the Master in Bankruptcy on 11 November 2011. She accepted the submission of Mr John Gordon, solicitor, of Messrs Napier and Sons, that, despite his habitual residence in the Republic of Ireland, the centre of his main interests pursuant to EC Regulation 1346/2000 was in Northern Ireland and he was therefore entitled to bring such a petition here. [3] Paragraph 1 of the petition reads as follows: 1 “Although I am not now resident in Northern Ireland, my centre of main interest, being the place where I conduct the administration of my interest, is located within the United Kingdom, at Gortmullen, Derrylin, County Fermanagh, Northern Ireland, BT92 9AU, which is the registered office and place of business of the companies in the Sean Quinn group of which I have been a director and from where I have performed my duties and conducted my business affairs.