Restructuring & Insolvency
Our Restructuring & Insolvency practice provides comprehensive service on all aspects of corporate insolvency, personal insolvency and corporate restructuring.
Our team advises leading insolvency practitioners, financial institutions, investors, unsecured creditors, debtors, directors and shareholders on both contentious and non-contentious insolvency issues.
We use our depth of knowledge and experience to identify options for our clients, and to recommend and implement cost-effective, tailored solutions.
Where appropriate, we liaise with specialists from other practice areas including Banking & Finance, Corporate, Real Estate & Construction, Dispute Resolution, Employment & Pensions and Health Services.
Examples of the services we provide include:
- Advising directors and other stakeholders of financially distressed companies on insolvency risk, corporate recovery/ rescue options and directors’ duties
- Restructuring negotiation and implementation, including schemes of arrangement (both informal and formal Court based schemes) taking formal enforcement action on behalf of secured creditors;
- Advising insolvency practitioner office-holders and other stakeholders on all aspects of receiverships, liquidations and examinerships
- Advising equity investors and acquisition parties investing in distressed companies and businesses
- Providing advice in relation to solvent group re-organisations and simplifications by way of members’ voluntary winding up or otherwise insolvency investigations, litigation and dispute resolution;
- Advising financial institutions and individual debtors in relation to personal insolvency issues including the three new out of court debt solutions provided for in the Personal Insolvency Act 2012
- Assisting overseas insolvency office-holders and trustees to obtain relief from the Irish courts
Our recent experience includes:
- Advising Monsoon Accessorize on the successful restructuring of its Irish business via examinership.
- Advising the First Lien Lender to Eircom in relation to Eircom’s financial restructuring via examinership.
- Advising ACCLM as secured creditor in a Circuit.
Our recent experience includes:
- Advising the Receiver of Guardian Healthcare (In Receivership) on all aspects of the receivership of this Nursing Home operator.
- Advising the Receiver of M&J Wallace Limited (In Receivership) on all aspects of the receivership of this well-known property development and construction company.
- Advising the Receiver of The Morrison Hotel in relation to its management and ultimately the high profile sale of the Hotel to a renowned international high net worth individual.
- Advising NAMA and the statutory receivers appointed by it over a number of its largest debtor connections, including Bowen Group, one of Ireland’s largest construction and property development businesses and Capel Group, a large Dublin based property development business which includes The Portmarnock Hotel and Golf Links.
- Acting for the receiver of Kinnitty Castle in relation to ongoing litigation by the borrower concerning various claims including ones relating to chattels, trademark, and ownership of the website in respect of the hotel.
Fixed Asset Receiverships
We advise multiple financial institutions and receivers appointed by them pursuant to fixed charge security in high volume projects covering property assets situated throughout Ireland.
Our recent experience includes:
- Advising the Liquidator of Kendar Holdings Limited (In Official Liquidation) a Michael Lynn property development company involving multi-jurisdiction cross border insolvency proceedings.
- Advising the Liquidator of travel agency Failte Travel Limited (In Official Liquidation) on all aspects of the court liquidation.
- Advising the Liquidator of Blackshore Holdings Limited (In Official Liquidation) the ultimate parent of the Black Shore Group which owned or operated a number of Hotel and properties around Ireland.
- Advising the Liquidator of MPS Global Limited (In Official Liquidation) a Clare-based investment company.
- Advising the purchaser of the Brooks Timber business from the Liquidator of the BHT Group.
- Advising the Liquidator of O’Brien Textiles Limited t/a OB Sports (In Liquidation) a well-known manufacturer and supplier of sports team wear.
Insolvency Related Litigation
- Advising Tom Kavanagh as receiver and Bank of Scotland (BOS) Plc in relation to a precedent challenge to the entitlement of BOS Plc to appoint a receiver over assets formerly secured to BOSI following the merger of the business of Bank of Scotland Ireland (BOSI) with BOS Plc.
- Advising ACCLM in relation to an application for possession which set a precedent on the interpretation of the Code of Conduct on Mortgage Arrears.
- Advising a partnership on a demand for repayment of c.GBP£5million issued by a secured creditor and successfully obtaining interim injunctions restraining the enforcement of security.
- Advising on the application for NAMA to appoint receiver by way of equitable execution over a deposit account with IBRC (In Special Liquidation) coupled with a compensation claim. under the Central Bank's Deposit Guarantee Scheme and the National Treasury Management Agency's Eligible Liabilities Guarantee Scheme.
- Advising service providers on the acquisition of loan portfolios in relation to enforcement action and settlement agreements
- Advising the Official Liquidator of MPS Global Limited (In Official Liquidation) in relation to a bankruptcy petition post a successful application pursuant to section 139 CA 1990.
- Advising international clients in relation to jurisdictional issues arising out of differences between bankruptcy regimes here and in the UK.
Rankings & Recommendations
We are consistently ranked as one of the leading Insolvency and Corporate Recovery law firms in Ireland.
ByrneWallace’s John Fitzgerald ‘leaves no stone unturned’ and successfully represented Bank of Scotland in a test case challenge to enforce security. - Chambers & Partners, 2015
John Fitzgerald of ByrneWallace draws praise from clients for his"responsiveness, accuracy and calm advice." Lately he has acted on several insolvency and related litigation matters involving the possession of property assests. - Legal 500, 2015
John Fitzgerald is ‘accurate and knowledgeable’. - Legal 500, 2014
John is praised by clients as "technically very strong, responsive and commercial," with one noting that he is "great at getting a deal over the line." - Chambers Global, 2014
John Fitzgerald is recommended for his "energy, responsiveness and good-quality service". - Legal 500, 2013