Examinership: The Irish Rescue Process 30 years later by Irene Lynch Fannon

In 1990, Ireland introduced a rescue process which reflects all of the main components of the Preventive Restructuring Directive (1023/2019) (“Directive”).

This procedure was originally contained in a larger scheme of corporate law reform and consolidation designed in the late 1980s, but the rescue process was extracted and passed hurriedly in September 1990 to respond to a crisis in the Irish beef industry. This first outing of what was called the Examinership process was a spectacular success leading to the rescue of the Goodman Group. The remainder of the original legislation was passed later in 1990.