Overview
1.1 Where would you place your jurisdiction on the spectrum of debtor- to creditor-friendly jurisdictions?
Ireland’s insolvency and restructuring regime is generally regarded to be creditor-friendly with well-established and flexible remedies available to pursue delinquent debtors through enforcement of security, judgment proceedings and/or a petition to wind-up.
However, the Irish Courts seek to protect viable enterprise and employment and rescue procedures are available to companies in financial difficulty including examinership, the small company administrative rescue procedure (“SCARP”) and schemes of arrangement.
1.2 Does the legislative framework in your jurisdiction allow for informal work-outs, as well as formal…