At Duff & Phelps, we believe relationships are an extremely important element in achieving a successful outcome to a receivership. We respond to our clients’ organisational style and we understand the commercial challenges that they face.
Our clients are principally financial institutions and debenture holders. They choose us for our innovative solutions to complex problems, and our entrepreneurial and collaborative approach. Duff & Phelps has the skills and knowledge to tackle complex receivership projects, having managed significant receiverships in recent years.
Our restructuring and insolvency team has considerable expertise across a variety of sectors, including:
- Property and construction
- Tax-based developments
Recent receivership assignments
Our professionals' receivership experience includes:
- Muckross Park Hotel
- Court Appointed Receiver to certain Quinn Family members
- Belmayne Ireland Limited
- Bernard McNamara Group of Companies
- Michael McNamara & Company
- Sipter (Fleming Group)
- Certain companies within the Zoe Group
- Sweeney Oil Group of Companies
- Capital Bars (Cafe en Seine, Howl at The Moon, The George)
Whether you are an owner manager, company director or other stakeholder, the liquidation of a business can cause stress and disruption to all concerned. At Duff & Phelps, our focus is on managing the process to get the best possible outcome given the precarious state of the business and its financial position.
Clients choose us for our professional approach and the strength and depth of our experience. The considerable experience of our restructuring and insolvency team allows us to quickly untangle the complexities of each particular case, while advising relevant parties on their legal obligations.
In addition, through our international network we can work for overseas clients such as multinational companies that sometimes require cross border restructuring or winding up of certain companies.
Some of our team's liquidation cases include:
- Mount Carmel Hospital
- Carrylane Limited (Ritz Carlton Hotel – Powerscourt)
- Guiney & Company Limited
- Birthdays (Ireland) Limited
- Vantive Holdings / Morston Investments. Holding companies to Liam Carroll’s Zoe
- Glenroyal Hotel / Glenroyal Leisure
- Eurofood IFSC Limited
- Mouldpro International Limited
Members’ Voluntary Liquidations
The main difference between a Members’ Voluntary Liquidation (MVL), a Creditors’ Voluntary Liquidation (CVL) and a High Court Liquidation is that, in an MVL, the company is solvent. When all liabilities have been paid, the remaining surplus is then distributed to the owners.
Duff & Phelps team members have conducted a wide variety of MVLs across sectors including:
- Financial services
- Tourism and leisure
- Information technology
MVLs are often used where companies are no longer needed for trading purposes. Owners may also want to liquidate the company in order to move property or other assets from the company to personal ownership.
In MVLs, it is essential for the directors and shareholders to consider the full taxation implications. Our extensive experience in this area ensures that clients benefit from the most tax-efficient way of transferring assets from a company.
Our services also include:
- Advising and assisting on relevant company law issues
- Extraction of a company from within a group, ensuring that the extraction is done in a manner consistent with the core objectives of the business and its shareholders
Duff & Phelps professionals have dealt with a number of complex MVLs, involving issues such as:
- Applying to the High Court to determine points of law
- Complex tax transactions
- Conversion of MVLs to Creditors’ Voluntary Liquidations
- Acting as liquidator in cases which were in the public domain, including subsidiaries of major public limited companies
Examinerships and the examinership process can be very effective in certain circumstances in providing a chance for a company to survive. But when a business goes into examinership it can cause significant challenges, disruption and stress for all concerned – creditors, staff, directors, shareholders, financial institutions and state agencies.
At Duff & Phelps, our focus is on meeting these challenges by managing the process professionally, efficiently and effectively.
Our team is skilled and experienced in examinerships and administrations, and have facilitated the restructuring of many businesses through the examinership process. Our experience, knowledge and project management skills are particularly relevant to all the parties involved, as the court process can be complex and time-consuming.
How the examinership process works
The examinership process can be very effective in certain circumstances in providing a chance for a company to survive. The process involves seeking High Court protection from creditors for a limited period, while an independent court-appointed examiner considers the options for a survival package.
The examiner’s approach is ratified by the court, so it is more likely to be successful than making voluntary arrangements with creditors. By contrast, voluntary arrangements often break down because some of the parties involved will not agree to write off part of their debt.
Duff & Phelps is experienced in this area, meaning we can quickly focus on the relevant issues, and advise the company and all other relevant parties about the process and the compliance requirements.
In addition to accepting appointments as an examiner, we also provide an examinership advisory and support service. This can be of particular benefit to creditors, banks, legal advisers or anyone affected by an examinership and who wants independent advice and support on protecting their interests.