Examiner appointed to a foreign registered, non-EU company, with its centre of main interests in Ireland
In a precedent setting decision, the Irish Court has appointed an Examiner to a foreign registered, non-EU company on the basis that its centre of main interests (“COMI”) is in Ireland.
On 30 May 2023, Mac-Interiors Limited (the “Company”), a private limited company incorporated and registered in Northern Ireland, but with its COMI in Ireland, presented a petition seeking the appointment of an examiner. On the same day, orders were made, amongst other things, appointing Kieran Wallace of Interpath Advisory as examiner on an interim basis pending the hearing of the Petition.
At the petition hearing on 14 June 2023, Mr Justice Quinn confirmed the appointment of Mr Wallace as Examiner to the Company. While the written decision is awaited and is due very shortly, the judge noted that the Companies Act 2014 is subject to the provisions of the Insolvency Regulation and in particular to Article 3(1) which confers on the Irish Courts, jurisdiction to open main insolvency proceedings in respect of a debtor with its COMI in the State, regardless of its country of incorporation.
We continue to act for the Company in the Examinership.
Also contributed to by Emma Aspil
This document has been prepared by McCann FitzGerald LLP for general guidance only and should not be regarded as a substitute for professional advice. Such advice should always be taken before acting on any of the matters discussed.
Select how you would like to share using the options below