The State Airports (Shannon Group) Act 2014 (the “Aviation Act”) came into force on 27 July 2014. The Aviation Act enhances Ireland’s position as a global centre for aviation finance and leasing by, among other things, introducing important reforms in the Shannon Region which will build upon the existing aviation industry of over 40 companies operating in the area.
On 13 August 2014, the Irish High Court gave a judgment which addresses significant issues in examinerships and provides some clarity regarding loan acquisitions and the timing and other considerations for creditors when issuing letters of demand.
Background
Insolvency practitioners are routinely asked to adjudicate on claims to retention of title of goods supplied. This task often involves an analysis of whether the goods in question have become fixed to land, irreversibly mixed with other goods or whether they remain as identifiable items.
In the recent case of Re Moormac Developments Limited (in receivership)[1], the High Court gave further clarity to this area of the law.
The institution of composition with creditors enabling business continuity (Article 186-bis of the Bankruptcy Law) and its impact on the legislative framework of public contracts (on the matter see “Composition with creditors enabling business continuity in public contracts”, June 2013, in www.nctm.it/wp-content/uploads/2013/11/CPCP) have given rise to contrasting applications of case-law, and as matters stand, the institution is often applied in different ways.
L’istituto del concordato preventivo con continuità aziendale (art. 186-bis della legge fallimentare) e il suo impatto sul quadro normativo dei contratti pubblici (sul punto cfr. “Concordato preventivo con continuità aziendale nei contratti pubblici”, giugno 2013, in www.nctm.it/wp-content/uploads/2013/11/CPCP) hanno dato origine ad applicazioni di giurisprudenza contrastanti, che portano allo stato attuale ad identificare per esso diverse modalità applicative.
a) Continuità diretta e indiretta
Nella precedente esperienza applicativa del concordato, la conservazione dei complessi aziendali in esercizio assai di rado avveniva in capo allo stesso imprenditore, quanto piuttosto solo in via “indiretta”, attraverso la formale cessione ad un soggetto terzo, procedendo, prima del deposito della domanda di ammissione al concordato, alla concessione in affitto al fine di preservarne l'operatività.
Waterside Management Company Limited v Brendan Kelly and Asta Kelly[1]
The procedure of composition with creditors aimed at business continuity (“concordato preventivo con continuità aziendale”, provided by art. 186-bis of the Bankruptcy Law) has a major impact on the rules governing public contracts, above all with reference to the requirements requested both for the participation of economic operators in the public tender procedures and for their capacity to enter into agreements with public entities.
In a long awaited landmark judgment, The European Court of Justice has today found in favour of ten former Waterford Crystal workers who alleged the Irish State had failed in their obligations to correctly implement European Directive 2008/94EC ('The Directive’) on the protection of employees in the event of the insolvency of their employer.
Yesterday the Minister for Justice, Alan Shatter, and Director of the Insolvency Service of Ireland (“ISI”), Lorcan O’Connor, launched the ISI’s public information campaign, which includes guides to the three new personal insolvency arrangements, its website and an information helpline for queries.