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Key Updates to Irish Insolvency Principles Now Effective

The Employment (Collective Redundancies and Miscellaneous Provisions) and Companies (Amendment) Act 2024 ("the 2024 Act") introduces some changes to the statutory insolvency regime in Ireland. The relevant provisions of the 2024 Act came into effect earlier this month on 1 July 2024.

Ireland, Insolvency & Restructuring, Litigation, Addleshaw Goddard LLP, Insolvency
Mid-market flexibility and the first creditor led restructuring plan

KARL CLOWRY, SEÁN MCGUINNESS, AND AZIZ ABDUL LOOK TO THE LESSONS FOR SHAREHOLDERS, CREDITORS AND ADMINISTRATORS FROM THE FIRST CREDITOR LED RESTRUCTURING PLAN.

The Good Box Co Labs Limited (in Administration) case demonstrates once more the viability of the process for the mid-market and continues a trend of RPs being used by a determined creditor / shareholder constituency to rescue an equity investment within an existing corporate group. In short, the mid-market RP is still a highly situational, albeit flexible, tool."

United Kingdom, Compliance Management, Insolvency & Restructuring, Addleshaw Goddard LLP, Corporate governance, Liquidation, Articles of association, Financial Conduct Authority (UK)