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Lawyers at Philip Lee have described a recent High Court decision as “an important post-Brexit development for cross-border insolvency in Ireland”.
They were commenting on the court’s recent recognition and enforcement, in a post-Brexit context, of an Individual Voluntary Arrangement (IVA) that was agreed in the North.
An IVA is a statutory debt-resolution mechanism that, once approved, can bind creditors to its terms and may operate as an alternative to…