Practices

Restructuring and Insolvency

Our expertise:

Lawyers in McCann FitzGerald’s Restructuring & Insolvency Group combine detailed technical experience with astute commercial acumen to consistently deliver timely advice that focuses on protecting the interests of our clients.

The team works closely with other sectors of the firm to develop innovative ideas and practical solutions for our clients.

Key areas:

McCann FitzGerald’s Restructuring & Insolvency Group offers comprehensive advice on the full range of restructuring and insolvency matters including:

• Restructuring negotiations
• Enforcement of security
• Loan to own strategies
• Insolvency procedures including examinerships, receiverships, liquidations and bankruptcy
• Distressed loan sales and purchases
• All associated litigation

Key highlights include advising:

• Bank of Scotland plc on the sale of loans secured on over 3,000 properties, valued at €3.6billion (“Project Poseidon”). This required detailed insolvency and restructuring inputs
• Examiner of Debenhams, on all aspects of the examinership process, including applications by the company to repudiate leases of several stores to facilitate the survival of the company
• Joint liquidators of OCS Operations Limited (which until July 2015 traded as Clerys Department Store) on all aspects of this controversial winding-up (the first commenced under the Companies Act 2014)
• Kenmare Resources plc, on all aspects of the restructuring of its bank debt and the raising of further equity. The cross border aspects of this case were extremely complex. The completion of the capital raise and debt restructuring saw Kenmare's gross outstanding debt reduced by 74% to US$100m
• Statutory receivers (Grant Thornton) appointed by the National Asset Management Agency to certain assets of Harry Crosbie and Point Village Development Limited and advise NAMA in judgment proceedings against Harry Crosbie