Insolvency and corporate restructuring in Ireland

A&L Goodbody LLP

A&L Goodbody LLP has an established record in domestic and cross-border insolvencies and restructurings. Added to this it has extensive experience in liquidations, examinerships, schemes of arrangement and receiverships; it has been at the forefront of the growing use of schemes of arrangement in financial restructurings. The firm has one of the largest insolvency and restructuring teams in Ireland, which includes highly-experienced department head David Baxter and senior names Mark Traynor and Marsha Coghlan.

Practice head(s):

David Baxter

Other key lawyers:

Mark Traynor; Marsha Coghlan; Brian O’Malley

Testimonials

‘The team are accessible, knowledgeable and solution providers.’

‘In addition to the comments made above, I have found Brian O’Malley to be both courteous and decisive.’

‘Mark Traynor is exceptional; very responsive, diligent and efficient. His advice is always pragmatic and commercially focused.’

Key clients

Voyager Aviation Management Ireland DAC

Ad Hoc Committee of secured lenders including BNP Paribas, Deutsche Bank, New York Life, Export Development Canada, Barings

KPMG

EY

Promontoria / Cerberus

Deloitte

Work highlights

  • Acted as Irish counsel in respect of the restructuring by Voyager Aviation Holdings, LLC (Voyager Holdings) of its outstanding $415m of unsecured notes.
  • Advised the majority senior lenders on their options to restructure the debt obligations of Celtic Road Group (Waterford) DAC (the PPP Company).
  • Acted as Irish legal counsel to an Ad Hoc Committee of secured lenders in connection with the scheme of arrangement of Nordic Aviation Capital DAC (the world’s largest regional jet lessor).

Arthur Cox

Arthur Cox has an outstanding record in headline restructurings and insolvencies, including both domestic and cross-border engagements. It represents a variety of debtors, investors, creditors and lenders, noteholders and bondholders, and examiners, among others. William Day is one of the most respected names in the market and John Donald has an established profile in domestic cross-border insolvencies and restructurings, including Chapter 11 proceedings and Irish law scheme of arrangements. Senior associates Frances Flynn and Philippa Pierse are also key team members.

Practice head(s):

William Day

Other key lawyers:

John Donald; Frances Flynn; Philippa Pierse

Testimonials

‘Strong bench, deep experience, practical advice, user friendly.’

‘The Arthur Cox Restructuring team integrated seamlessly into the wider team so that we could provide cohesive cross-border advice to the client.’

‘William Day has an exceptional amount of experience on Irish insolvency/restructuring matters and the firm brings significant depth in staffing and experience.’

‘William Day is the top of his field. He is hands on and user friendly.’

‘Willie Day and John Donald are best in class in the Irish market. Bags of experience – you know they won’t let you down.’

‘John Donald – exceptional work ethic, client focus and expertise.’

‘Willie Day – A leading practitioner with a wealth of experience. John Donald – A great advocate with experience on large complex restructurings. Frances Flynn – Rising star and really good to work with’

‘Willie Day and Frances Flynn are very easy to work with: responsive, astute and reliable.’

Key clients

Mallinckrodt plc and its Irish subsidiaries

Unsecured creditors of Nordic Aviation Capital DAC Group

Arcadia Group Companies

German ABL Lenders to Hertz Group, led by Credit Agricole

Beachpoint Capital Ireland Lending DAC

Colin Gaynor, Resolute Advisory

KPMG

Creditors of Norwegian Air Shuttle Group companies

Grant Thornton

New Look Retailers Group companies

Work highlights

  • Advised Mallinckrodt Group, including the Irish parent company, Mallinckrodt plc, and its Irish subsidiaries, in relation to the ongoing Chapter 11 bankruptcy proceedings and proposed restructuring transaction.
  • Advised various creditors of the Norwegian group companies with respect to the Irish examinership process and counterparties to contracts with the companies which are the subject of repudiation applications.
  • Advised unsecured creditors to the Nordic Aviation Capital DAC group on all aspects of an Irish Scheme of Arrangement under Chapter 1 of Part 9 of the Companies Act 2014.

Mason Hayes & Curran LLP

Mason Hayes & Curran LLP has been at the forefront of major insolvencies and restructurings in recent times, most notably in the aviation sector. It has a presence in both domestic and cross-border engagements, including US Chapter 11 proceedings and Irish schemes of arrangement. The firm has committed considerable resources to the sector, which includes a number of senior specialists including Judith Riordan and Maurice Phelan, who is an insolvency expert by background but has moved into the broader dispute resolution sphere. Frank Flanagan is also highly rated. David Ormsby left the firm for an in-house role.

Practice head(s):

Maurice Phelan; Judith Riordan

Other key lawyers:

Frank Flanagan; John Bollard

Testimonials

‘It goes without saying that they have the technical knowledge, which is first rate, but their most important quality is the ability to balance that with prompt and committed delivery which balances the law with the needs of the clients. They do not deliver the easy answer and that is attractive because at the end of the day it can lead any client and especially an IP into deep problems.’

‘Maurice Phelan is particularly impressive and I would describe him as very able, commercially sensitive with clients and gets to the point.’

‘Judith Riordan – her technical knowledge of insolvency and banking enforcement is second to none.  She is the one you want on your side in a tough case.’

‘I’ve found Judith Riordan’s understanding and grasp of Company law to be excellent and, genuinely way ahead of other insolvency/dispute resolution lawyers.’

‘Frank Flanagan is a great lawyer. He is clever with a detailed knowledge of the law but he is also a creative thinker and a problem solver.’  

‘Frank Flanagan has a unique way of tackling problems.  I really like Frank’s approach which differs from the run-of-mill standard advice.’

Key clients

EY

Export Development Canada

Friel Stafford

McStay Luby

Bank of Scotland plc

PwC

Mazars

Grant Thornton

SCISYS Group plc

KPMG

Allied Irish Banks, p.l.c.

Travelers Insurance DAC

Kroll

WhatsApp Ireland Limited

Facebook (EMEA HQ)

Instagram (EMEA HQ)

Udemy

Xilinx

Etsy Ireland (EMEA HQ)

Slack Technologies (EMEA HQ)

Bauer Media Group

Verizon Media/Oath/Yahoo (EMEA HQ)

Matheson LLP

Matheson LLP landed a series of headline aviation sector insolvencies and restructurings engagements during the Covid-19 pandemic. This builds on its already excellent standing in the market, which stems from a number of recent retail matters too. The team is particularly rated for cross-border insolvency and restructuring, along with contentious insolvency and enforcement issues. Tony O’Grady is a hugely experienced insolvency and restructuring specialist, while Brendan Colgan and Julie Murphy-O’Connor are also prominent names. Kevin Gahan was promoted to the partnership in 2022.

Practice head(s):

Tony O’Grady; Julie Murphy O’Connor; Brendan Colgan

Other key lawyers:

Kevin Gahan; Karen Reynolds

Testimonials

‘Very experienced and professional firm. Provide practical solutions to complex matters. Very reassuring considering the pressurised industry we work in. Always feel in safe hands. Have engaged Matheson on numerous insolvency assignments and will continue to do so.’

‘The Matheson team has very strong commercial acumen, deep legal expertise and a continuity of key people that Tony O’Grady ensures consistently high standards.’

‘Tony O’ Grady and Kevin Gahan. Very experienced and professional. Provide practical solutions to complex matters. Very reassuring considering the pressurised industry we work in. Always feel in safe hands. A pleasure to work with both of them.’

‘Tony O’Grady is a recognised leader in the insolvency / work out field. Brendan Colgan brings commerciality and excellent responsiveness to every engagement.’

‘I have found Brendan Colgan to be a best in class partner in the space and balances achieving commercial objectives with protecting his clients downside perfectly. Brendan has a deep knowledge of all areas of law outside his insolvency and restructuring expertise which is a significant asset to his clients.’

‘Both Julie Murphy O’Connor and Karen Reynolds are exceptional. They are both so responsive and efficient. I am very impressed with their commerciality and work product. Their whole team are also very easy to deal with.’

‘Julie Murphy O’Connor always provides excellent advice in what tend to be very difficult and tricky restructuring and insolvency cases.’

‘Kevin Gahan builds a very strong rapport with our team here and is always available to assist with queries and provide advice on tricky situations.’

Key clients

PWC

EY

KPMG

Deloitte

Grant Thornton

BDO

Kroll

Mazars

Baker Tilly

RSM

Smith & Williamson

Russell Brennan Keane

McStay Luby

Goldman Sachs

CarVal Investors

Oaktree / Sabal / Mars

Cerberus

Work highlights

  • Advised the Norwegian Airline Group on all matters relating to its Irish examinership proceedings and various other cross-jurisdictional matters connected to the restructuring of the group’s business.
  • Advised Stobart Air, a significant operator of short haul flights in Ireland and the UK, on placing the company into liquidation.
  • Advised the joint liquidators in relation to winding-up of a high profile retail entity with significant creditors due to its large operational footprint in Ireland.

McCann FitzGerald LLP

McCann FitzGerald LLP reinforced its senior bench with the promotion of corporate restructuring and insolvency specialist David O’Dea to the partnership in May 2021. He is part of a team that continues to impress in US Chapter 11 filings, examinerships and Irish schemes of arrangement. The group has landed key roles in aviation restructurings and insolvencies. Michael Murphy and Lisa Smyth are also highly rated by clients.

Practice head(s):

Michael Murphy

Other key lawyers:

Lisa Smyth; David O’Dea

Testimonials

‘Breadth and depth of expertise across not just corporate restructuring but other departments. The ability to bring in those other departments where projects/issues span multiple areas of expertise – Commercial, user friendly, responsive, dedicated and practical. Ability to understand business, industry and the situational context in a very compressed, time pressured environment is impressive and was fundamental to the level of support they provided.’

‘Agile, commercial and insightful. Succinct client updates and keen understanding of client’s instructions/needs.’

‘Lisa Smyth and Michael Murphy are committed, commercial, practical, supportive and clearly experts in their fields – Their expertise and experience in corporate restructuring is almost taken as a given but their ability and willingness to understand the business, industry, the context and as a result provide practical, tactical advice is what what makes the difference. Equally dedicated and committed to securing a positive outcome for our business as we were which was both reassuring and a key reason we achieved the outcome we did.’

‘Lisa Smyth is commercially focused with keen attention to client’s needs. David O’Dea is approachable and offers practical and sound advice.’

‘Lisa Smyth – Lisa is a leading insolvency and restructuring lawyer in the Irish market. Lisa has a deep understanding of the law but always seeks to understand the problem at hand and the client’s views before providing her valued advice.’

‘Key Partner – Lisa Smyth – demonstrated keen awareness and expertise of relevant legal issues to be managed by client. Right sizing of team – only involved partner level when required for key legal advices/discussions and presentations and otherwise entrusted to colleagues on team, making it more cost effective for clients. Expert advices delivered in clear manner. Key associate – David O’Dea, since promoted to partner. David was our key contact for the project and was excellent to work with – available, thoughtful and considered advice, collaborative, personable.’

‘Michael Murphy and Lisa Smyth work very well together, and when appropriate, they also bring dedicated subject matter experts from other parts of the practice to help advise on complex situations.’

‘Michael Murphy – Michael is an excellent insolvency and restructuring lawyer, who brings a calming presence to what can be very fraught situations during an insolvency case. Michael has a wealth of experience but also brings a very commercial approach to all situations. Michael is now one of the leading go to insolvency lawyers in the market.’

Key clients

Kieran Wallace, Eamonn Richardson and Shane McCarthy, KPMG

Stephen Tennant, Grant Thornton

Ken Fennell and Mark Degnan, Deloitte

John McStay and Jim Luby, McStay Luby

Ken Tyrell and Declan McDonald, PwC

Nordic Aviation Capital DAC

David Cotter, CFO, Car Trawler

National Asset Management Agency

Hammerson Group Management

Hostelworld Group Plc

Work highlights

  • Acted for a number of aircraft leasing companies and creditors in the examinership of NAS, a dual process that took place in both Norway and Ireland, with the main insolvency proceedings being carried out in Ireland.
  • Acted for DEPFA and the DEPFA group in the successful use of an Irish scheme of arrangement to implement the redemption in full of its remaining Asset Covered Securities.
  • Acted for the Joint Liquidators of the company, an airline which operated scheduled and chartered flights.

William Fry

William Fry has made a further impression in international restructurings and continues to represent an array of stakeholders in big-ticket restructurings and insolvencies, including those in the aviation, manufacturing and retail sectors. It has gathered further experience in Irish law scheme of arrangement processes, US Chapter 11 filings, and examinerships. Department head Fergus Doorly has advised on some of the largest cross-border restructurings and examinerships of recent times. Similarly, Ruairi Rynn and Craig Sowman are highly rated practitioners. The firm also has an impressive bench of senior associates in this field.

Practice head(s):

Fergus Doorly

Other key lawyers:

Ruairi Rynn; Craig Sowman; Niamh Cacciato; Alice O’Connor; Rebecca Martyn

Testimonials

‘Very experienced and professional firm. Provide practical solutions to complex matters. Very reassuring considering the pressurised industry we work in. Always feel in safe hands. Have engaged William Fry on numerous insolvency assignments and will continue to do so.’

‘A very strong insolvency scheme with good strength and depth. Ability to involve other practice areas across the firm.’

‘Fergus Doorly is a market leader in the provision of Insolvency and Restructuring legal advice. He is strongly supported by Ruairi Rynn and Craig Sowman. A very strong team.’

‘Fergus Doorly – A very experienced, calm and knowledgeable insolvency solicitor.’

‘Craig Sowman, Ruari Rynn, Rebecca Martyn and Fergus Doorly. Very experienced and professional. Provide practical solutions to complex matters. Very reassuring considering the pressurised industry we work in. Always feel in safe hands. A pleasure to work with each of them.’

‘We have worked closely with Fergus Doorly, Ruairi Rynn and Craig Sowman who are all very experienced, knowledgeable and good to work with.’

‘Craig Sowman – An excellent insolvency solicitor with good sectoral experience.’

‘Ruairi Rynn – A very able insolvency solicitor.’

Key clients

Kieran Wallace, KPMG

EY

PwC

Baker Tilly

Grant Thornton

Ken Fennell and James Anderson, Deloitte

Duff & Phelps

RSM Ireland

Kirby Healy Chartered Accountants

Sabios

Allied Irish Banks, p.l.c.

Bank of Ireland

National Asset Management Agency

Debenhams

Pointwell Limited

Norwegian Air Shuttle ASA and related companies

Montrose Global Aircraft Leasing Limited and subsidiaries

Nordic Aviation Capital

Work highlights

  • Acted as Irish lawyers to NAC Group in relation to its restructuring of its $6.8bn debt.
  • Advised Kieran Wallace, KPMG, as Examiner of Norwegian Air International Limited Shuttle ASA and certain Irish group companies.
  • Advised Pointwell Limited, a member of the Skillsoft Corporation, on a restructuring of multibillion-dollar loan facilities through a Chapter 11 process.

Addleshaw Goddard

Addleshaw Goddard entered the market in 2022 following its merger with Eugene F. Collins. The group has a solid reputation in the market thanks in part to the presence of senior figure Doug Smith. He and the team continue to land some significant engagements, including cross-border insolvencies and corporate recoveries; notably in the aviation, pharmaceutical and retail sectors. The group has excellent connections to accountancy firms and major lenders, and frequently receives conflict referrals from other leading law firms in Ireland. Consultant Terry Leggett has extensive experience in contentious insolvency proceedings. Senior associate Jonathan Lynch is another key team member.

Practice head(s):

Doug Smith

Other key lawyers:

Terry Leggett; Jonathan Lynch

Testimonials

‘Open collaboration with teams, educational event, very engaging teams, solid professional advice, engagement with many partners across a number of specialties.’

‘Strong legal knowledge, very proactive in engagement, lost of client engagement events.’

‘Brings together all of the key components that an IP needs in his or her legal team. By the nature of our work an IP will have a high level of knowledge of core Insolvency law and that is enhanced in dealing with the key Insolvency team in the firm. The critical requirement is that the contact also has a broad knowledge of the legal matters which potentially impact on Insolvency such as IP, Employment, Banking Law, Contract and Environmental such that they do not instantly seek to bring in the “in-house” expert which can be tiresome but that they will do so when it is in the interest of the client to do so. This is a key requirement for me in selecting any firm.’

‘The key attribute is availability to take a call on the run and give some reassurance as to the approach that needs to be taken. If that means move on or stop and do a deep analysis, so be it.’

‘Doug Smith was extremely approachable and knowledgeable of the matters we were considering together for the common client.’

‘Doug Smith – Approachable, practical and commercial with a wealth of experience to draw on. A very knowledgeable insolvency solicitor.’

Key clients

Creditors of Nordic Aviation Capital DAC

Pharm-Olam

M-Birr

PwC – Declan McDonald

KPMG – Kieran Wallace, Eamonn Richardson

Deloitte – Ken Fennell, David Van Dessel

Ernst & Young – Luke Charleton

Grant Thornton – Paul McCann and Michael McAteer

BDO – Jim Hamilton and David O’Connor

RSM Ireland – George Maloney

Duff & Phelps – Declan Taite, Anne O’Dwyer

McStay Luby – Jim luby and John Mcstay

Kirby Healy – Myles Kirby

Ferris & Associates – Martin Ferris

Baker Tilly Hughes Blake – Dessie Morrow

Somers, Murphy & Earl – Derek Earl

GSW – Michael Sargent

Cold Move

Work highlights

  • Acted for Pharm-Olam in its claim in the liquidation of sublimity.
  • Acted for a group of creditors in the Nordic Aviation restructuring.
  • Advised the client, which was undergoing company voluntary arrangement (CVA) under English law, on the implementation of the CVA in Ireland.

Beauchamps LLP

Beauchamps LLP has a relatively small team headed by senior name Barry Cahir  that frequently lands big engagements such as representing CityJet DAC, the largest wet lease operator in Europe, in its restructuring by way of examinership; this was the largest aviation restructuring in Ireland’s history. The team has a particularly strong record in aviation, retail and leisure, and is close to a range of lenders, insolvency practitioners, and debtors. To complement the growing reputation of the firm in this space, it promoted Simon Murphy to the partnership in September 2021. Clíodhna Walsh specialises in personal insolvency proceedings.

Practice head(s):

Barry Cahir

Other key lawyers:

Simon Murphy; Clíodhna Walsh

Testimonials

‘The team at Beauchamps provide very strong practical advice on difficult restructuring engagements. When appropriate, Barry brings in resources from the rest of the firm who in my experience have always added value to the cases at hand.’

‘The service provided is highly professional and they provide a dedicated resource that is very knowledgeable and committed to the responsibilities of the role.’

‘Barry Cahir and Simon Murphy – Providers of practical, pragmatic legal advice.’

‘Barry Cahir – Barry is an excellent insolvency and restructuring lawyer who brings a highly collaborative approach to any engagement. Barry uses his deep understanding of law and precedent to provide highly valued advice in tricky and difficult situations.’

‘Simon Murphy – Simon is an excellent young lawyer, very responsive and follows up on matters to ensure the case progresses.’

‘I’ve worked closely with Cliodhna Walsh for five years and have always found her to be highly knowledgeable and dedicated to the cases under her management. Cliodhna is a fantastic resource and is always available to provide advice and support whenever required.’

Key clients

Sean’s Bar

CompuB and Stormfront Technologies

Flairline Fashions

Paperchase

Warehouse Fashion Group

Oasis Fashion Group

Le Pain Quotidien

Aldo Shoe Group

CityJet DAC

Damien Murran of RSM Ireland

Eamonn Richardson of KPMG

Dublin Port Company

Colony Capital Inc & Ken Tyrrell, PWC

Nicholas Wood, Grant Thornton UK

Everyday Finance DAC

Cerberus

AIB Group

Pepper Finance Corporation Ireland DAC

Ulster Bank Ireland DAC

KBC Bank Ireland plc

Work highlights

  • Represented CityJet DAC, the largest wet lease operator in Europe, in its restructuring by way of examinership; the largest aviation restructuring in the history of Ireland.
  • Acted in the successful restructuring of the largest premium reseller of Apple products in the UK and Ireland (including three English registered companies).
  • Advised on the restructuring of one of Ireland’s oldest fashion retailers, the Flairline Fashions Group, which operates the country’s 24 Pamela Scott stores in Ireland, and three stores for Richard Alan & Co.

ByrneWallace LLP

ByrneWallace LLP has continued to develop its cross-border restructuring practice, including Chapter 11 filings, and has gained further traction in advising private equity funds on their work out of distressed debt portfolios. The group is also noted for its work in the public sector. In contentious proceedings, the firm frequently represents clients in the Commercial Court and High Court. The core restructuring and insolvency team regularly works alongside colleagues in the dispute resolution department. Department head John Fitzgerald represents a range of clients, including lenders, private equity houses, debtors and insolvency office holders. Sean Neville provides additional support at associate level.

Practice head(s):

John Fitzgerald

Other key lawyers:

Sean Neville

Testimonials

‘Sound experience. Capable and friendly team.’

‘Proactive, pragmatic and practical.’

‘Availability to discuss issues is extremely good. Turnaround time equally so. Great breath of experience and knowledge.’

‘John Fitzgerald has very strong experience in the field of insolvency/restructuring. He is looking for practical solutions. Responsive and very easy to communicate with.’

‘John Fitzgerald is readily available, responds quickly and provides clear advice.’

‘John Fitzgerald is an outstanding partner for the firm. John has an excellent understanding of the law and this coupled with his excellent commercial acumen ensured that we had a thorough understanding for our complex matters and how these would progress. Various scenarios setting out risk etc greatly enhanced our decision making.’

‘I have also worked closely with John Fitzgerald, Sean Neville and the insolvency team on various transactions. They are proven experts in their area and have also provided high levels of service.’

‘John Fitzgerald, Partner – calm unruffled during engagement and when providing advices. Sean Neville, Senior Associate- Knowledgeable, personable.’

Key clients

Jim Luby, Enda Lowry and Des Gibney of McStay Luby

Brendan O’Donoghue of Russell Brenna Keane (RBK)

Myles Kirby and John Healy of Kirby Healy

Kieran Wallace, Patrick Horkan, Shane McCarthy, all of KPMG

Ken Fennell, James Anderson, Mark Degnan, David Van Dessell of Deloitte

Luke Charlton of EY

Declan Taite and Anne O’Dwyer of Duff & Phelps

David O’Connor of BDO

Neil Hughes of Baker Tilly

Martin Ferris of Ferris & Associates

Work highlights

  • Acted for the liquidator of Monsoon Accessorize Ireland Limited in relation to all aspects of the liquidation including contentious creditor claims.
  • Acted for the liquidator the Key Collections Group of Companies in relation to all aspects of the liquidation.
  • Advised the client in relation to all aspects of a US Chapter 11 restructuring and the impact on the client in Ireland.

Dillon Eustace

Dillon Eustace's practice is, in large part, focused on international restructurings, including examinerships; notable recent examples include Norwegian Airlines and Weatherford International. The core insolvency and corporate recovery team also works closely with colleagues in the banking and capital markets departments, along with members of the fraud and asset tracing group. Personal insolvency is another strength of the firm. Department head Jamie Ensor has earned a number of accolades from clients, while Shane Harron impresses at senior associate level.

Practice head(s):

Jamie Ensor

Other key lawyers:

Shane Harron

Testimonials

‘Very experienced and professional firm. Provide practical solutions to complex matters. Very reassuring considering the pressurised industry we work in. Always feel in safe hands. Have engaged Dillon Eustace on insolvency assignments and will continue to do so.’

‘Very responsive so you know they are looking at the matter in question and very often they will know the answer on the hoof. A particular strength is the ability to back-up their instinct with references to legislation.’

‘Jamie Ensor is a very shrewd operator, exceptionally knowledgeable and his command of legislation is particularly impressive. Submissions drafted by him regularly come back from counsel (including senior counsel) without amendment.’

‘Jamie Ensor is an experienced, pragmatic and assured operator. His reputation as being top of his game is deserved. Apart from being a very strong technical lawyer, I have always found him to be much more accessible than some of his competitors. He has always been polite and unflappable.’

‘Jamie Ensor is an experienced insolvency litigator, and has acted on some of the major examinerships. He is highly responsive and provides sound advice.’

‘We value DE very highly. In my view, their key strengths lie in their experience in insolvency centered around Jamie Ensor (Partner). This experience lends itself to a pragmatic and calm approach being taken to difficult issues. DE are very approachable and ideal to work with.’

‘Jamie Ensor is our main point of contact. He is commercially minded and pragmatic. I would rate him very highly, both in terms of the quality of his advice and approachability.’

‘Shane Harron has been running some impressive instructions on his own and would be one to watch in the future.’

Key clients

AIB

Contrarian Funds LLC

Credit Suisse

BNY Mellon

Deutsche Bank Trust Company America

PwC

NAMA

Mazars

E&Y

Deloitte (David van Dessel and Tom Kavanagh)

Grant Thornton

RSM Ireland

Lapithus

Crowe Ireland (Aiden Murphy)

Baker Tilly

RDI REIT plc

Pepper Asset Servicing

Smith & Williamson

McStay Luby

KPMG

Aidan Garcia Diaz

John Healy (Kirby Healy)

Myles Kirby (Kirby Healy)

Martin Ferris and Patrick McCoy

Tanager DAC

Seaconview DAC

Havbell DAC

Havbell No. 2 DAC

AIG (New York)

MUFG Bank

Work highlights

  • Acted for a number of creditors and stakeholders in the examinership of Norwegian Air.
  • Acted for the investor in the examinership of Compu b.
  • Advising DBTCA in it capacity as Indenture/Security Trustee for several series of unsecured notes totalling over $1bn in relation to the Irish element of the restructuring of a large US pharma multinational.

Eversheds Sutherland

Eversheds Sutherland‘s strong connections to domestic and international lenders, financial institutions, funds and intermediaries, provides it with a steady pipeline of corporate restructuring and insolvency engagements. It frequently advises the key accountancy firms that are routinely appointed as receivers or liquidators in this field. Norman Fitzgerald is a senior litigator with extensive experience in corporate restructuring and insolvency. Fellow litigator Neil O’Mahony is another practitioner with a solid record in the area and senior associate Barbara Galvin is another key team member.

Practice head(s):

Norman Fitzgerald; Neil O’Mahony

Other key lawyers:

Steve Rodgers; Piaras Power; Barbara Galvin

Testimonials

‘Clarity of communication, advice was practical and focused.’

‘They have proven to be very receptive and pro-active on cases that I have worked with them on. I have found that they are good strategists and problem solvers.’

‘They are an excellent partner and are prepared to go the extra mile to ensure the deal gets done.’

‘The team bring a commercial edge to all of our dealings and are strategic in how they approach our dealings.’

‘Excellent service, quality team, very commercial approach, ability to deal with very complex insolvency and corporate assignments.’

‘Norman Fitzgerald and Neil O’Mahony are my main Partner contacts in this firm within this field. They are highly experienced and commercial people.’

‘Norman Fitzgerald is a well respected expert in the area of Insolvency and Corporate Restructuring and I would have no hesitation in recommending him to clients.’

Key clients

Citibank

Insolvency Service of Ireland

KPMG

ACCLM / Rabobank /Link

Allied Irish Banks p.l.c.

Bank of Ireland

BDO

Cairn Homes Plc

Deloitte

Deutsche Bank AG, Deutsche Bank, London Branch

Ernst & Young

Grant Thornton

Hibernia REIT

KBC Bank

NAMA

PwC

Ronan Real Estate Group

Ulster Bank / RBS

JW Accountants

Duff & Phelps

Work highlights

  • Acted for Joseph Walsh who was appointed as official liquidator to Business Mobile Security Services Limited (trading as Senaca).
  • Acted for Starkane Limited (a significant creditor and majority shareholder) and Ina’s Kitchen Desserts Limited in successfully opposing a petition brought by a minority shareholder and director in the Company for the appointment of an Examiner to the company.
  • Advised RGRE Grafton Limited, as landlord, in relation to a dispute with its tenant at Bewley’s Café Grafton Street, Dublin.

Maples Group

Maples Group has a broad-based practice with a fine reputation in representing receivers and liquidators in headline insolvencies and in advising private equity firms in relation to the acquisitions of distressed loans. It also frequently advises a number of major lenders and creditors in this area. Robin McDonnell leads the dispute resolution and insolvency team and has extensive experience in compulsory and voluntary liquidations, examinerships, receiverships, schemes of arrangement and bankruptcies. Recently promoted partner Karole Cuddihy is a restructuring and insolvency specialist.

Practice head(s):

Robin McDonnell

Other key lawyers:

Karole Cuddihy

Key clients

Michael McAteer and Paul McCann of Grant Thornton, in their capacity as the Joint Official Liquidators of Treasury Holdings and 15 related companies

Pepper Asset Servicing

Myles Kirby

Freddie White of Grant Thornton, in his capacity as the Liquidator of Enterprise Insurance Company

Allied Irish Banks, p.l.c.

Official Committee of Unsecured Creditors of Mallinckrodt plc

RDJ LLP

RDJ LLP has maintained a powerful presence in liquidations, receiverships and examinerships, along with advice on distressed situations and debt settlement arrangements. It has strong connections to domestic and international financial institutions, insolvency practitioners, and companies that are in financial distress. Cork partner and department head Ashling Walsh is an established restructuring insolvency expert, with Dublin associate Michael Quinlan providing further specialist support.

Practice head(s):

Ashling Walsh

Other key lawyers:

Michael Quinlan

Testimonials

‘The team is commercial, pragmatic, responsive and innovative in seeing through complex problems and finding solutions.’

‘Ashling Walsh is in a class of her own. She is focused, technically very capable and is adept at managing client expectations.’

‘Excellent team, knowledge and professional service.’

‘Ashling Walsh – highly knowledgeable, practical and informed on subject area of expertise.’

Key clients

Castlehaven Property Finance DAC

George Maloney, liquidator over McGettigan Construction Limited, Receiver over certain assets of Bryan Cullen

Pepper Finance Corporation (Ireland) DAC

George Maloney, Receiver, RSM Ireland and National Asset Management Agency

Deloitte and National Asset Management Agency

Lugus Capital Limited

Luke Charlton and Michael Cotter (EY) and Feniton Property Finance DAC

KPMG

Aiden Murphy, Crowe

Myles Kirby, Kirby Healy

Invoicefair Limited

Bank of Ireland

Ulster Bank

Work highlights

  • Advised Castlehaven Property Finance 2 DAC in relation to the granting of a permanent stay and other ancillary High Court orders and the discharge of receivers with respect to O’Brien and O’Flynn Unlimited Company (OBOF), Poinsetta Properties Limited and Jomaga Fashions Limited, so that the companies could move from a status of liquidation and receivership to that of a normal status and re-commence trading.
  • Acted for George Maloney of RSM Ireland on two applications to the High Court pursuant to Section 445 of the Companies Act 2014 for directions in relation to the conduct of the concurrent receivership of McGettigan Construction Limited.
  • Advised Pepper in relation to the enforcement options available to it with respect to a significant number of its secured real property assets and, in particular, with respect to the appointment of receivers over the secured assets and in relation to repossession matters.

BHSM LLP

BHSM LLP has demonstrated genuine dedication to the insolvency and restructuring field, with frequent engagements from liquidators, receivers and examiners, among others. It has continued to advise on a series of significant liquidations, including that of Mothercare Ireland. Managing partner Mark Homan is a specialist in the area, with additional senior support from partner Brian Baily.

Practice head(s):

Mark Homan; Brian Baily

Other key lawyers:

Sarah O’Toole

Testimonials

A very modern and dynamic practice. I have dealt with 4 or 5 of the senior staff and have found them very knowledgeable and helpful.

Mark Homan as partner gives advice very much to the point of the matter at hand and will provide fee quotes in advance for workstreams which allows an insolvency practitioner to plan the outcome and cost benefit analysis of different strategies.

One of the key USPs for me with BHSM LLP is their accessibility and approachability.

‘Mark Homan is the Partner on all of our cases and he is excellent to deal with. I have a good rapport with him both professionally and personally and he is very approachable. His advice is always commercially focused and tempered by caution when required. Sarah O’ Toole is the Senior Associate on our cases and she is highly diligent and very measured in her approach to everything she does.

They have a detailed knowledge and understanding of the sector and this expertise combined with an excellent level of client service makes BHSM LLP by far the best Firm that I have dealt with in terms of Insolvency and corporate restructuring services.

I work primarily with Mark Homan and Sarah O’Toole. Their client service is without peer; they have a detailed knowledge of all relevant subject matters and they are very practical and commercial in their approach. I would strongly recommend BHSM LLP to anyone seeking legal support in this sector.

Key clients

Myles Kirby acting as Liquidator

John Healy acting as Liquidator

Aralez Pharmaceuticals: Official Committee of Unsecured Creditors

Aiden Murphy acting as Liquidator

Mícheál Leydon acting as Liquidator

Barry Donohue acting as Liquidator

John Foley acting as Liquidator

Tom Murray, Director, Friel Stafford

Jim Stafford, Managing Director, Friel Stafford

David Colleran acting as Liquidator

Andrew Hendrick, Director, Friel Stafford

Marcus Tracey acting as Receiver

Work highlights

  • Advised Myles Kirby in relation to a well-known fraudulent and reckless trading action in connection with this liquidation, which resulted in the High Court granting the longest disqualification order ever handed down by the Irish Courts against a company director.
  • Advised the Mothercare Group (Irish) in relation to the winding up of its Irish operations.  Subsequently advised the liquidator, Tony McBride, in legal matters pertaining to the liquidation.
  • Advised the liquidator on complex High Court applications relating to this liquidation.

Dentons Ireland

Dentons Ireland has assembled a highly credible team, led by experienced restructuring and insolvency specialist Gareth Steen. The Dublin team is especially well-suited to cross-border engagements, notably representing Airbus in connection with the restructuring of Norwegian Air Group. The central team has strong connections to key insolvency practitioners in the market, along with significant lenders. Counsel Gemma Freeman joined the team from ByrneWallace LLP in January 2021.

Practice head(s):

Gareth Steen

Other key lawyers:

Gemma Freeman

Testimonials

‘The Dentons team has shown itself to be uniquely attuned to guiding foreign clients through Irish law and insolvency procedures in complex areas such as aircraft leasing/financing and technology. The team which has been assembled has first rate domestic experience and, through the firm and its wider international network, is highly effective at understanding the needs international clients as they face the challenges of the Irish insolvency scene.’ 

‘Client focus, thinking ahead, amazing service including late evenings.’

‘Gareth Steen injects genuine and real calm in the midst of what is often time pressured and his first class knowledge of the Irish process (together with a wide range of professional contacts and relationships in the legal insolvency sector) allow him to provide easily comprehensible advice that recognises and feeds into the commercial exigencies of foreign clients. Once strategic client decisions have been made, he is then well placed to execute this strategy.’

‘Gemma Freeman embodies the same ethos of work, and is a critical part of the detailed execution of client decided strategies.’

‘Gemma Freeman (industrious, gets it quickly), Gareth Steen (pragmatic, service leader).’

Key clients

Airbus S.A.S.

Kieran Wallace, KPMG

Ken Fennell and James Anderson, Deloitte

Nicholas O’Dwyer, Grant Thornton

Myles Kirby, Kirby Healy

Shaw Academy Group

Work highlights

  • Advised Airbus on the restructuring of the Norwegian Air Group  through the examinership process in Ireland.
  • Acted for Shaw Academy Limited in presenting its petition seeking the appointment of an examiner to Shaw Group.
  • Acted for the joint liquidators of the company, which formed part of the German headquartered Wirecard Group that collapsed by virtue of an alleged large scale international fraud.

Fieldfisher

Fieldfisher's established department covers a range of corporate insolvency, personal insolvency and corporate restructuring matters. Team head Mark Woodcock has particularly strong connections to leading insolvency practitioners, frequently landing significant engagements in major liquidations, and has a prolific record in representing key stakeholders in headline examinerships.

Practice head(s):

Mark Woodcock

Other key lawyers:

Joanne Cooney

Testimonials

‘A strong insolvency team and firm – with the ability to seek advice from wider UK firm if the need arises. Proactive and visible in the market.’

‘The team are dedicated to this area which means they are constantly advising and litigating and completely up to date on all developments in the area (particularly as they are involved in multiple societies and organisations in this field and writing knowledge updates for industry).’

‘The team is accessible, organised, committed and well-informed.’

‘Very proactive, very engaging, good clear advice, always has your back.’

‘Mark Woodcock, the lead Partner in this area is my main contact in this firm. He has an experienced and tight team around him.’

‘Mark Woodcock is experienced, commercial and has very good communication skills.’

‘Mark Woodcock is the standout partner. He is smart, effective, and aggressive on behalf of his clients.’

‘Mark Woodcock- Partner- Consummate insolvency professional, wholly engaged on issues, practical & solution driven.  Joanne Cooney- Senior Associate well respected & capable.’

Key clients

The Bank of Ireland

Official Assignee as part of the Insolvency Service of Ireland (ISI)

Baker Tilly, Chartered Accountants

Deloitte Ireland

RSM, Chartered Accountants

The National Asset Management Agency (NAMA)

BDO LLP

Friel Stafford, Chartered Accountants

Start Mortgages DAC

Somers, Murphy and Earl, Chartered Accountants

Michael Kenney

Sherry Fitzgerald

Work highlights

  • Acted on behalf of the EPA which was identified as a very significant contingent creditor of Norwegian Air International Limited (in examinership).
  • Instructed by a trade union representing 275 French nationals employed as cabin crew and pilots by an Irish registered company operating long haul flights across Europe for Norwegian Air; NAR’s parent company was in Examinership.
  • Instructed by the bank and the receiver to issue proceedings and seek injunctive relief restraining the defendant from interfering with the appointment of the receiver over an investment property. The defendant claimed that the receiver was invalidly appointed.

Hayes Solicitors LLP

Hayes Solicitors LLP continues to demonstrate a fervent commitment to the insolvency and restructuring field, frequently representing insolvency practitioners in significant liquidations. It is also regularly engaged by financial institutions and creditors, private equity firms and asset managers. It has an established record in the Commercial division of the High Court. Joe O’Malley and Jeremy Erwin  are experienced figures in the area.

Practice head(s):

Joe O’Malley

Other key lawyers:

Jeremy Irwin; Michael Kelly

Testimonials

Hayes solicitors LLP and in particular its Insolvency and corporate restructuring practice have a highly experienced team with a wealth of insolvency knowledge. They consistently provide excellent commercial advice, concise recommendations based on strong legal rationale and are always very responsive.

‘An excellent insolvency team – very responsive and knowledgeable. Proactive. Good commercial/technical advice.’

‘Jeremy Erwin – An excellent insolvency lawyer. Very responsive.’

Joe O’Malley – A very experienced and astute insolvency solicitor.

‘We have worked very closely with Joe O’Malley and Michael Kelly on a recent complex and contentious case and found them to be very accessible, responsive and commercial in their approach.’

Key clients

AIB

Baker Tilly Ireland

Bank of Ireland

Cerberus/Promontoria

Country Manor Hotels Limited

Deloitte

Duff & Phelps

Everyday Finance DAC

Feniton Property Finance DAC

Goldman Sachs

Grant Thornton

Hydromine Inc.

Kirby Healy Chartered Accountants

KPMG

Mars Capital

Mazars

NAMA

Pepper Finance Corporation (Ireland) DAC

Promontoria / Cerberus

PwC

Smith & Williamson

Work highlights

  • Represented NAMA in the high-profile defence of a claim for what is, in essence, a public law challenge to various decisions made by NAMA and a constitutional challenge to the legislation establishing NAMA and upon which their decisions were made.
  • Advised Liam Dowdall of Smith & Williamson (as liquidator) in relation to the Galtee Fuels and Dominar Group liquidations.
  • Acted for Launceston Property Finance DAC & Ken Tyrrell of PwC in complex commercial court proceedings arising from indebtedness to Launceston and enforcement steps in relation to underlying loans and security.

Lavelle Partners

At Lavelle Partners, insolvency is very much core to the business, thanks largely to the presence of the immensely experienced founding partner Michael Lavelle who specialises in insolvency and commercial litigation. Lavelle routinely acts for leading accountancy firms appointed in major liquidations, receiverships and examinerships.

Practice head(s):

Michael Lavelle

Other key lawyers:

Dermot McClean

Key clients

Caritas Convalescent Centre DAC

St Mary’s Centre (Telford) DAC

Courtown Water World Limited

Gorey Courtown Forest Park CLG

Maximum Media Networks Ltd

Work highlights

  • Acted for St Mary’s in liquidation proceedings and subsequent disputes with former employees and the eventual winding up of the company.
  • Acted for Caritas Convalescent Centre DAC, a centre located in Dublin for patients recovering from surgery, in relation to a High Court petition to liquidate Caritas and an application to appoint joint provisional liquidators to Caritas.

LK Shields Solicitors LLP

LK Shields Solicitors LLP's strengths principally lie in insolvencies. It is notably active in liquidations and a growing number of examinerships. It also regularly advises directors and other officeholders of distressed companies on insolvency risk, personal liability and corporate rescue options. Jill Callanan leads the corporate insolvency and restructuring team, and was recently made head of the litigation and dispute resolution department. Corporate and commercial partner Ruairi Mulrean provides further senior-level expertise in corporate restructurings.

Practice head(s):

Jill Callanan

Other key lawyers:

Ruairi Mulrean

Testimonials

‘The team’s strengths are many – I felt they were knowledgeable and informative. They were always available to answer any queries. I felt very confident in their abilities at all times.’

 

Key clients

Pentire Property Finance DAC and Pepper Group

Anne O’Dwyer, Kroll (previously known as Duff & Phelps)

Declan Taite, Kroll (previously known as Duff & Phelps)

Neil Hughes, Baker Tilly

Aidan Garcia, Sabios

James Anderson and Tom Kavanagh of Deloitte

Peter Allen, Deloitte

Veon Limited, IFS Forestry Services Limited, Trevor McHugh, Paul Brosnan

Work highlights

  • Acted for the examiner in the successful examinership of Mosco Plastics (Ireland) Limited – a specialist contractor that designs, engineers and installs specialist façade, roofing and glazing products using the latest 3D and BIM platforms.
  • Acted for the secured lender and fixed-charge receiver appointed to certain assets of Bryan and Derek McGuinness in the Irish High Court proceedings issued by Bryan and Derek McGuinness against both the receiver and the chargeholder.
  • Advised the liquidator of Discount Supplements Limited in respect of a number of matters arising from the liquidation.

Walkers

Walkers lost its former department head Gavin Smith in November 2021, but has maintained senior-level credibility with William Greensmyth becoming head of the insolvency and dispute resolution group. The team has remained active in the Irish aspects of global restructurings and continues to be engaged by insolvency practitioners in liquidations and receiverships.

Practice head(s):

Will Greensmyth

Testimonials

‘Clarity of communication and empathy towards situation.’

Key clients

Swissport Group Sarl

The Boeing Company

Hertz Corporation

Luke Charleton and Andrew Dolliver, receiver of assets of DP Aircraft Ireland Limited

CBL Insurance Limited (In Liquidation)

Apperley Investments Limited, Martina Investments Limited and Tailwind Investments Limited t/a The Town Partnership

NordLB

Myles Kirby, Kirby Healy, liquidator of The Belfry UK Properties Group

Work highlights

  • Acted for The Hertz Corporation as local counsel in relation to the successful restructuring of $19bn of debt.
  • Acted for Swissport as local counsel in relation to the successful restructuring of $2bn of debt.
  • Advised NordLB in its role as a secured creditor in the examinership of Norwegian Air.