A strata wind-up is an excellent way to realize the economic potential of a multi-unit residential property (the "strata") by leveraging the value of each unit in the strata as a whole to a developer that may want to re-develop on the strata's property. This article summarizes the onset and development of this emerging sector in light of recent case law and current events.

Introduction to strata wind-ups

It has been suggested that Ireland improperly transposed the Employer’s Insolvency Directive into Irish Law by adopting a definition of “insolvency” which requires an actual winding up order (or a resolution of voluntary winding up to be passed) before an employee can have access to the Insolvency Fund, a Government payment scheme which provides for the payment of certain employee entitlements, in the event of the insolvency of their employer.