Landlord and tenant relationships are likely to come under strain as tenants experience financial difficulties due to the COVID-19 pandemic. For tenant companies such financial difficulties may result in a tenant being placed in examinership, or ultimately in the appointment of a liquidator or receiver. An insolvency event generally constitutes an event of default in a commercial lease.
A company incorporated under the Companies Act has its own legal personality and can institute legal proceedings in its own name. However, difficulties can arise where proceedings are commenced on behalf of a company where this has not been properly authorised by the company. In addition, where a company is a party to proceedings, in the absence of certain limited exceptions, it must retain legal representation to act on its behalf.
Authority to Institute Proceedings
Directors of the Company
Saam Golshani and Alexis Hojabr, White & Case LLP
This is an extract from the first edition of GRR's The Art of the Pre-Pack. The whole publication is available here.
Christopher Harlowe and Christopher Levers, Mourant
This is an extract from the first edition of GRR's The Art of the Pre-Pack. The whole publication is available here.
The Cayman Islands has established itself as the jurisdiction of choice for financially sophisticated businesses such as hedge funds, private equity funds, special purpose vehicles and trusts that use offshore vehicles.
David Baxter and Brian O’Malley, A&L Goodbody
This is an extract from the first edition of GRR's The Art of the Pre-Pack. The whole publication is available here.
Introduction
Pre-packs in Ireland probably are not as common as they should be. In theory, a pre-pack is broadly available in each of our insolvency procedures: liquidation, examinership and receivership.
Dominic Emmett and Hannah Cooper, Gilbert + Tobin
This is an extract from the first edition of GRR's The Art of the Pre-Pack. The whole publication is available here.
Dennis F Dunne, Dennis C O'Donnell and Nelly Almeida, Milbank LLP
This is an extract from the first edition of GRR's The Art of the Pre-Pack. The whole publication is available here.
Introduction
Jacqueline Ingram and Damilola Odetola, Milbank LLP
This is an extract from the first edition of GRR's The Art of the Pre-Pack. The whole publication is available here.
Yushan Ng and Jacqueline Ingram, Milbank LLP
This is an extract from the first edition of GRR's The Art of the Pre-Pack. The whole publication is available here.
Robert J Dehney and Matthew B Harvey, Morris Nichols Arsht & Tunnell LLP
This is an extract from the first edition of GRR's The Art of the Pre-Pack. The whole publication is available here.
Introduction