Legal framework
Legislation
What is the primary legislation governing insolvency and
restructuring proceedings in your jurisdiction?
Insolvency and restructuring proceedings in Ireland are
primarily governed by:
- the Companies Act 2014 (as
amended);
- the Bankruptcy Act 1988 (as amended);
and
- the Personal Insolvency Act 2012 (as
amended).
These are supplemented by principles of common law.
The EU Regulation on Insolvency Proceedings (2015/848/EU) also
applies in cross-border cases when a debtor has its centre of main
interests in an EU member state.
Regulatory climate
On an international spectrum, is your jurisdiction more
creditor or debtor friendly?
Ireland is generally regarded as having a creditor-friendly and
flexible corporate recovery and insolvency framework. However, the
courts are nevertheless cognisant of balancing the need for
certainty – in terms of creditors having effective
enforcement rights – with the requirement for the
