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ARTICLE · 21 FEBRUARY 2014

Recent Developments – Conduct Of Creditors’ Meetings

Dillon Eustace
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Irish Bank Resolution Corporation Limited (In Special Liquidation) v. McCabe’s Garage Drogheda Limited (In Receivership and In Voluntary Liquidation) and Martin Kelly (unreported, Charleton J., 2nd December, 2013).

IrelandInsolvency/Bankruptcy/Re-Structuring
Jamie Ensor
Jamie Ensor
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Irish Bank Resolution Corporation Limited (In Special Liquidation) v. McCabe's Garage Drogheda Limited (In Receivership and In Voluntary Liquidation) and Martin Kelly (unreported, Charleton J., 2nd December, 2013).

In a judgment delivered on 2nd December, 2013 the High Court made an order replacing a company's nominee as liquidator with the nominee of the company's largest creditor in circumstances where the proxy lodged by that creditor had not been admitted at the creditors' meeting on the basis that it had been lodged late. The judgment examined the issues of (i) notice of creditors' meetings and (ii) lodgement of proxies by email.

Background

On 14th October, 2013 McCabe's Garage Drogheda Limited (In Receivership) (the "Company") summoned a meeting of its creditors pursuant to s. 266 of the Companies Act 1963 for the purposes of, inter-alia, laying a full statement of the affairs of the Company before its creditors and appointing a liquidator to the Company.

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