European Union: Insolvency/Bankruptcy

Ireland's examinership process provides a unique corporate rescue mechanism for international restructuring, offering automatic EU recognition, worldwide creditor moratorium, and cross-class cram down capabilities. This comprehensive guide examines how non-Irish companies can leverage examinership for complex cross-border restructurings, featuring case studies of major transactions including Norwegian Air, Mallinckrodt plc, and Weatherford, with comparative analysis against UK and US restructuring framework

Pre-insolvency restructurings can fail when individual creditors block viable solutions to negotiate better outcomes. The insolvency plan's cram-down mechanism enables court confirmation despite dissenting votes, provided dissenting groups receive legal protection and aren't unduly disadvantaged. Understanding cram-down logic helps stakeholders assess restructuring options and risks before insolvency occurs.

When a contractor faces financial distress, companies often make direct payments to the contractor's upstream suppliers to maintain supply chain continuity.