<br />
Third Edition 2017<br />
Business<br />
Restructuring<br />
& Insolvency Report<br />
Published by TIMES Group<br />
www.pwc.ie<br />
Corporate<br />
restructuring<br />
opportunities<br />
in Ireland <br />
<br />
<br />
<br />
PwC's latest Global Economic Outlook projects Ireland to be the<br />
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highlighting the opportunities for international capital to locate<br />
here. Ireland also provides an ideal location for international<br />
corporate restructuring through our well established legislation<br />
and debtor in possession restructuring regime. PwC in Dublin is<br />
ideally placed to help deliver successful corporate restructuring<br />
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Declan McDonald<br />
+353 1 792 6092<br />
declan.mcdonald@ie.pwc.com<br />
Ken Tyrrell<br />
+353 1 792 5184<br />
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1SJDFXBUFSIPVTF$PP<a title="Business Restructuring & Insolvency Report 2017 page 1" href="http://viewer.zmags.com/publication/1a40e2ac?page=1"> Third Edition 2017 Business Restructuring & Ins</a>
<a title="Business Restructuring & Insolvency Report 2017 page 2" href="http://viewer.zmags.com/publication/1a40e2ac?page=2"> www.pwc.ie Corporate restructuring opportunities </a>
<a title="Business Restructuring & Insolvency Report 2017 page 3" href="http://viewer.zmags.com/publication/1a40e2ac?page=3"> Business Restructuring & Insolvency Report Editor</a>
<a title="Business Restructuring & Insolvency Report 2017 page 4" href="http://viewer.zmags.com/publication/1a40e2ac?page=4"> Onshore. Offshore. One coordinated approach At G</a>
<a title="Business Restructuring & Insolvency Report 2017 page 5" href="http://viewer.zmags.com/publication/1a40e2ac?page=5"> Contents 9 Taskforce 2021 By Adam Harris, Presi</a>
<a title="Business Restructuring & Insolvency Report 2017 page 6" href="http://viewer.zmags.com/publication/1a40e2ac?page=6"> CORPORATE RESTRUCTURING & INSOLVENCY EXCELLENCE</a>
<a title="Business Restructuring & Insolvency Report 2017 page 7" href="http://viewer.zmags.com/publication/1a40e2ac?page=7"> Contents 48 Cross border complexity in offshore </a>
<a title="Business Restructuring & Insolvency Report 2017 page 8" href="http://viewer.zmags.com/publication/1a40e2ac?page=8"> www.pwc.nl Restructuring solutions that matter </a>
<a title="Business Restructuring & Insolvency Report 2017 page 9" href="http://viewer.zmags.com/publication/1a40e2ac?page=9"> Contents 82 Legal aspects of NPL transactions </a>
<a title="Business Restructuring & Insolvency Report 2017 page 10" href="http://viewer.zmags.com/publication/1a40e2ac?page=10"> </a>
<a title="Business Restructuring & Insolvency Report 2017 page 11" href="http://viewer.zmags.com/publication/1a40e2ac?page=11"> Taskforce 2021 By Adam Harris, President, INSOL I</a>
<a title="Business Restructuring & Insolvency Report 2017 page 12" href="http://viewer.zmags.com/publication/1a40e2ac?page=12"> many months and generated hundreds of conversatio</a>
<a title="Business Restructuring & Insolvency Report 2017 page 13" href="http://viewer.zmags.com/publication/1a40e2ac?page=13"> Bankruptcy and insolvency Need a lifeline? </a>
<a title="Business Restructuring & Insolvency Report 2017 page 14" href="http://viewer.zmags.com/publication/1a40e2ac?page=14"> </a>
<a title="Business Restructuring & Insolvency Report 2017 page 15" href="http://viewer.zmags.com/publication/1a40e2ac?page=15"> The Insolvency Section of the IBA By Dr. Kirsten </a>
<a title="Business Restructuring & Insolvency Report 2017 page 16" href="http://viewer.zmags.com/publication/1a40e2ac?page=16"> Committee became the Insolvency Section devoted t</a>
<a title="Business Restructuring & Insolvency Report 2017 page 17" href="http://viewer.zmags.com/publication/1a40e2ac?page=17"> </a>
<a title="Business Restructuring & Insolvency Report 2017 page 18" href="http://viewer.zmags.com/publication/1a40e2ac?page=18"> Making the difference TAX AND LEGAL ADVICE With</a>
<a title="Business Restructuring & Insolvency Report 2017 page 19" href="http://viewer.zmags.com/publication/1a40e2ac?page=19"> Cooperation, Collaboration, and Continuous Develo</a>
<a title="Business Restructuring & Insolvency Report 2017 page 20" href="http://viewer.zmags.com/publication/1a40e2ac?page=20"> community beyond Europe, especially in the US, As</a>
<a title="Business Restructuring & Insolvency Report 2017 page 21" href="http://viewer.zmags.com/publication/1a40e2ac?page=21"> Let us guide you We supply a wide range of recove</a>
<a title="Business Restructuring & Insolvency Report 2017 page 22" href="http://viewer.zmags.com/publication/1a40e2ac?page=22"> Navigating turbulent times Deloitte Restructuring</a>
<a title="Business Restructuring & Insolvency Report 2017 page 23" href="http://viewer.zmags.com/publication/1a40e2ac?page=23"> S ince the early 1990s, UNCITRAL has completed a </a>
<a title="Business Restructuring & Insolvency Report 2017 page 24" href="http://viewer.zmags.com/publication/1a40e2ac?page=24"> insolvency: the UNCITRAL Practice Guide on Cross-</a>
<a title="Business Restructuring & Insolvency Report 2017 page 25" href="http://viewer.zmags.com/publication/1a40e2ac?page=25"> The Swedish law firm specialised in turnarounds, b</a>
<a title="Business Restructuring & Insolvency Report 2017 page 26" href="http://viewer.zmags.com/publication/1a40e2ac?page=26"> Strong Swiss franc. Price pressure. Political unc</a>
<a title="Business Restructuring & Insolvency Report 2017 page 27" href="http://viewer.zmags.com/publication/1a40e2ac?page=27"> Chapter 5 introduces the concept of treating fore</a>
<a title="Business Restructuring & Insolvency Report 2017 page 28" href="http://viewer.zmags.com/publication/1a40e2ac?page=28"> </a>
<a title="Business Restructuring & Insolvency Report 2017 page 29" href="http://viewer.zmags.com/publication/1a40e2ac?page=29"> Creativa Images / Shutterstock.com Importance of </a>
<a title="Business Restructuring & Insolvency Report 2017 page 30" href="http://viewer.zmags.com/publication/1a40e2ac?page=30"> chombosan / Shutterstock.com </a>
<a title="Business Restructuring & Insolvency Report 2017 page 31" href="http://viewer.zmags.com/publication/1a40e2ac?page=31"> of the financial crisis caused financial giants, </a>
<a title="Business Restructuring & Insolvency Report 2017 page 32" href="http://viewer.zmags.com/publication/1a40e2ac?page=32"> investors/creditors. Despite the importance of th</a>
<a title="Business Restructuring & Insolvency Report 2017 page 33" href="http://viewer.zmags.com/publication/1a40e2ac?page=33"> INSOLVENCY LEADING WITH PASSION UGANDA th</a>
<a title="Business Restructuring & Insolvency Report 2017 page 34" href="http://viewer.zmags.com/publication/1a40e2ac?page=34"> 32 danielo / Shutterstock.com</a>
<a title="Business Restructuring & Insolvency Report 2017 page 35" href="http://viewer.zmags.com/publication/1a40e2ac?page=35"> Restructuring reforms in the EU and UK: keeping u</a>
<a title="Business Restructuring & Insolvency Report 2017 page 36" href="http://viewer.zmags.com/publication/1a40e2ac?page=36"> · measures to raise the efficiency of restruct</a>
<a title="Business Restructuring & Insolvency Report 2017 page 37" href="http://viewer.zmags.com/publication/1a40e2ac?page=37"> were expressed on the technical detail, there was</a>
<a title="Business Restructuring & Insolvency Report 2017 page 38" href="http://viewer.zmags.com/publication/1a40e2ac?page=38"> Complex reorganisation in a changing economic lan</a>
<a title="Business Restructuring & Insolvency Report 2017 page 39" href="http://viewer.zmags.com/publication/1a40e2ac?page=39"> Currently, Austria has the seldom used Law on Reo</a>
<a title="Business Restructuring & Insolvency Report 2017 page 40" href="http://viewer.zmags.com/publication/1a40e2ac?page=40"> long it takes to agree the commercial deal and to</a>
<a title="Business Restructuring & Insolvency Report 2017 page 41" href="http://viewer.zmags.com/publication/1a40e2ac?page=41"> the court. They will have information rights and </a>
<a title="Business Restructuring & Insolvency Report 2017 page 42" href="http://viewer.zmags.com/publication/1a40e2ac?page=42"> 40 Lisa S / Shutterstock.com</a>
<a title="Business Restructuring & Insolvency Report 2017 page 43" href="http://viewer.zmags.com/publication/1a40e2ac?page=43"> Restructuring and Insolvency in Austria By Markus</a>
<a title="Business Restructuring & Insolvency Report 2017 page 44" href="http://viewer.zmags.com/publication/1a40e2ac?page=44"> the entity is unable to pay its debts when they f</a>
<a title="Business Restructuring & Insolvency Report 2017 page 45" href="http://viewer.zmags.com/publication/1a40e2ac?page=45"> restructuring plan to be submitted to the court, </a>
<a title="Business Restructuring & Insolvency Report 2017 page 46" href="http://viewer.zmags.com/publication/1a40e2ac?page=46"> We set precedents rather than follow trends. LITI</a>
<a title="Business Restructuring & Insolvency Report 2017 page 47" href="http://viewer.zmags.com/publication/1a40e2ac?page=47"> Flexibility and creativity: hallmarks of Canada's</a>
<a title="Business Restructuring & Insolvency Report 2017 page 48" href="http://viewer.zmags.com/publication/1a40e2ac?page=48"> company, where other more traditional avenues for</a>
<a title="Business Restructuring & Insolvency Report 2017 page 49" href="http://viewer.zmags.com/publication/1a40e2ac?page=49"> steps in Canada, before an Order recognising the </a>
<a title="Business Restructuring & Insolvency Report 2017 page 50" href="http://viewer.zmags.com/publication/1a40e2ac?page=50"> Cross border complexity in offshore restructuring</a>
<a title="Business Restructuring & Insolvency Report 2017 page 51" href="http://viewer.zmags.com/publication/1a40e2ac?page=51"> O ffshore structures vary from single entities to</a>
<a title="Business Restructuring & Insolvency Report 2017 page 52" href="http://viewer.zmags.com/publication/1a40e2ac?page=52"> problem with common law based offshore jurisdicti</a>
<a title="Business Restructuring & Insolvency Report 2017 page 53" href="http://viewer.zmags.com/publication/1a40e2ac?page=53"> arguments remain over the identification of COMI </a>
<a title="Business Restructuring & Insolvency Report 2017 page 54" href="http://viewer.zmags.com/publication/1a40e2ac?page=54"> </a>
<a title="Business Restructuring & Insolvency Report 2017 page 55" href="http://viewer.zmags.com/publication/1a40e2ac?page=55"> Restructuring remodelled: proposed new regime in </a>
<a title="Business Restructuring & Insolvency Report 2017 page 56" href="http://viewer.zmags.com/publication/1a40e2ac?page=56"> Millenius / Shutterstock.com </a>
<a title="Business Restructuring & Insolvency Report 2017 page 57" href="http://viewer.zmags.com/publication/1a40e2ac?page=57"> The counter to this is the second legal problem, </a>
<a title="Business Restructuring & Insolvency Report 2017 page 58" href="http://viewer.zmags.com/publication/1a40e2ac?page=58"> From a Danish perspective: New Proposal for a Dir</a>
<a title="Business Restructuring & Insolvency Report 2017 page 59" href="http://viewer.zmags.com/publication/1a40e2ac?page=59"> Denmark does not recognise an insolvency procedur</a>
<a title="Business Restructuring & Insolvency Report 2017 page 60" href="http://viewer.zmags.com/publication/1a40e2ac?page=60"> Therefore, in Denmark insolvency can be present a</a>
<a title="Business Restructuring & Insolvency Report 2017 page 61" href="http://viewer.zmags.com/publication/1a40e2ac?page=61"> that a Member State gives priority after new fina</a>
<a title="Business Restructuring & Insolvency Report 2017 page 62" href="http://viewer.zmags.com/publication/1a40e2ac?page=62"> Kenya and the East Africa Region; Restructuring &</a>
<a title="Business Restructuring & Insolvency Report 2017 page 63" href="http://viewer.zmags.com/publication/1a40e2ac?page=63"> will facilitate the resolution of cross-border in</a>
<a title="Business Restructuring & Insolvency Report 2017 page 64" href="http://viewer.zmags.com/publication/1a40e2ac?page=64"> case bearing ambiguity or uncertainty brought bef</a>
<a title="Business Restructuring & Insolvency Report 2017 page 65" href="http://viewer.zmags.com/publication/1a40e2ac?page=65"> seeks to have both its corporate and individual i</a>
<a title="Business Restructuring & Insolvency Report 2017 page 66" href="http://viewer.zmags.com/publication/1a40e2ac?page=66"> $WƪƬUVWJODQFH ƬWÒVDQXQXVXDO FRQQHFWƬRQ On second </a>
<a title="Business Restructuring & Insolvency Report 2017 page 67" href="http://viewer.zmags.com/publication/1a40e2ac?page=67"> Restructuring and insolvency in Germany 2017 By F</a>
<a title="Business Restructuring & Insolvency Report 2017 page 68" href="http://viewer.zmags.com/publication/1a40e2ac?page=68"> downward trend. In 2016, the increase in the tota</a>
<a title="Business Restructuring & Insolvency Report 2017 page 69" href="http://viewer.zmags.com/publication/1a40e2ac?page=69"> CURRENT LEGAL DECISIONS THAT HAVE AN IMPACT ON TH</a>
<a title="Business Restructuring & Insolvency Report 2017 page 70" href="http://viewer.zmags.com/publication/1a40e2ac?page=70"> 68 Andrei Nekrassov / Shutterstock.com</a>
<a title="Business Restructuring & Insolvency Report 2017 page 71" href="http://viewer.zmags.com/publication/1a40e2ac?page=71"> An update on Restructuring in Ireland By William </a>
<a title="Business Restructuring & Insolvency Report 2017 page 72" href="http://viewer.zmags.com/publication/1a40e2ac?page=72"> unless the Company qualifies as a “small company”</a>
<a title="Business Restructuring & Insolvency Report 2017 page 73" href="http://viewer.zmags.com/publication/1a40e2ac?page=73"> It is not necessary to apply to court in cases ot</a>
<a title="Business Restructuring & Insolvency Report 2017 page 74" href="http://viewer.zmags.com/publication/1a40e2ac?page=74"> 72 Shutterstock.com</a>
<a title="Business Restructuring & Insolvency Report 2017 page 75" href="http://viewer.zmags.com/publication/1a40e2ac?page=75"> Insight into Irish restructuring landscape By Dec</a>
<a title="Business Restructuring & Insolvency Report 2017 page 76" href="http://viewer.zmags.com/publication/1a40e2ac?page=76"> commentators believe that the EU proposals are a </a>
<a title="Business Restructuring & Insolvency Report 2017 page 77" href="http://viewer.zmags.com/publication/1a40e2ac?page=77"> particularly for owner managed businesses. The pr</a>
<a title="Business Restructuring & Insolvency Report 2017 page 78" href="http://viewer.zmags.com/publication/1a40e2ac?page=78"> It's comforting to know its company in capable ha</a>
<a title="Business Restructuring & Insolvency Report 2017 page 79" href="http://viewer.zmags.com/publication/1a40e2ac?page=79"> Natanael Ginting / Shutterstock.com Recent Me</a>
<a title="Business Restructuring & Insolvency Report 2017 page 80" href="http://viewer.zmags.com/publication/1a40e2ac?page=80"> the SA (société anonyme) or public limited compan</a>
<a title="Business Restructuring & Insolvency Report 2017 page 81" href="http://viewer.zmags.com/publication/1a40e2ac?page=81"> Natanael Ginting / Shutterstock.com </a>
<a title="Business Restructuring & Insolvency Report 2017 page 82" href="http://viewer.zmags.com/publication/1a40e2ac?page=82"> an issue of securities, other than shares, by a L</a>
<a title="Business Restructuring & Insolvency Report 2017 page 83" href="http://viewer.zmags.com/publication/1a40e2ac?page=83"> to distressed companies, including both extrajudi</a>
<a title="Business Restructuring & Insolvency Report 2017 page 84" href="http://viewer.zmags.com/publication/1a40e2ac?page=84"> 82 ST22Studio / Shutterstock.com</a>
<a title="Business Restructuring & Insolvency Report 2017 page 85" href="http://viewer.zmags.com/publication/1a40e2ac?page=85"> Legal aspects of NPL transactions under Dutch law</a>
<a title="Business Restructuring & Insolvency Report 2017 page 86" href="http://viewer.zmags.com/publication/1a40e2ac?page=86"> up” to a transfer of receivables or transfer of c</a>
<a title="Business Restructuring & Insolvency Report 2017 page 87" href="http://viewer.zmags.com/publication/1a40e2ac?page=87"> property himself. The mortgagee will retain a pre</a>
<a title="Business Restructuring & Insolvency Report 2017 page 88" href="http://viewer.zmags.com/publication/1a40e2ac?page=88"> or (ii) a private sale with court approval or (ii</a>
<a title="Business Restructuring & Insolvency Report 2017 page 89" href="http://viewer.zmags.com/publication/1a40e2ac?page=89"> In general the Netherlands does not levy withhold</a>
<a title="Business Restructuring & Insolvency Report 2017 page 90" href="http://viewer.zmags.com/publication/1a40e2ac?page=90"> Orighomisan Ogbebor / Shutterstock.com Nigerian </a>
<a title="Business Restructuring & Insolvency Report 2017 page 91" href="http://viewer.zmags.com/publication/1a40e2ac?page=91"> Based on data published by the World Bank, it is </a>
<a title="Business Restructuring & Insolvency Report 2017 page 92" href="http://viewer.zmags.com/publication/1a40e2ac?page=92"> timescales, route of recovery and risk of loss fo</a>
<a title="Business Restructuring & Insolvency Report 2017 page 93" href="http://viewer.zmags.com/publication/1a40e2ac?page=93"> We applaud the steps taken by the Institute of Ch</a>
<a title="Business Restructuring & Insolvency Report 2017 page 94" href="http://viewer.zmags.com/publication/1a40e2ac?page=94"> In 2015 the bankruptcy law of the Russian Federat</a>
<a title="Business Restructuring & Insolvency Report 2017 page 95" href="http://viewer.zmags.com/publication/1a40e2ac?page=95"> debtor's pledged property as a part of bankruptcy</a>
<a title="Business Restructuring & Insolvency Report 2017 page 96" href="http://viewer.zmags.com/publication/1a40e2ac?page=96"> 94 Gajus / Shutterstock.com</a>
<a title="Business Restructuring & Insolvency Report 2017 page 97" href="http://viewer.zmags.com/publication/1a40e2ac?page=97"> Operational Restructuring – plugging the implemen</a>
<a title="Business Restructuring & Insolvency Report 2017 page 98" href="http://viewer.zmags.com/publication/1a40e2ac?page=98"> last 3-5 years both in our thinking as practition</a>
<a title="Business Restructuring & Insolvency Report 2017 page 99" href="http://viewer.zmags.com/publication/1a40e2ac?page=99"> alphaspirit / Shutterstock.com </a>
<a title="Business Restructuring & Insolvency Report 2017 page 100" href="http://viewer.zmags.com/publication/1a40e2ac?page=100"> How to avoid some of the most common mistakes mad</a>
<a title="Business Restructuring & Insolvency Report 2017 page 101" href="http://viewer.zmags.com/publication/1a40e2ac?page=101"> andriano.cz / Shutterstock.com </a>
<a title="Business Restructuring & Insolvency Report 2017 page 102" href="http://viewer.zmags.com/publication/1a40e2ac?page=102"> Walder Wyss Ltd. Zurich, Geneva, Basel, Berne, </a>
<a title="Business Restructuring & Insolvency Report 2017 page 103" href="http://viewer.zmags.com/publication/1a40e2ac?page=103"> Trading in distressed debt in Swiss insolvency pr</a>
<a title="Business Restructuring & Insolvency Report 2017 page 104" href="http://viewer.zmags.com/publication/1a40e2ac?page=104"> SP-Photo / Shutterstock.com audit reports of </a>
<a title="Business Restructuring & Insolvency Report 2017 page 105" href="http://viewer.zmags.com/publication/1a40e2ac?page=105"> recognised creditor and they should be allowed to</a>
<a title="Business Restructuring & Insolvency Report 2017 page 106" href="http://viewer.zmags.com/publication/1a40e2ac?page=106"> 104 tai11 / Shutterstock.com</a>
<a title="Business Restructuring & Insolvency Report 2017 page 107" href="http://viewer.zmags.com/publication/1a40e2ac?page=107"> Restructuring and insolvency developments in Ugan</a>
<a title="Business Restructuring & Insolvency Report 2017 page 108" href="http://viewer.zmags.com/publication/1a40e2ac?page=108"> b) Dominance of Receiverships The Insolvency Act </a>
<a title="Business Restructuring & Insolvency Report 2017 page 109" href="http://viewer.zmags.com/publication/1a40e2ac?page=109"> Even though the banks appear more willing to supp</a>
<a title="Business Restructuring & Insolvency Report 2017 page 110" href="http://viewer.zmags.com/publication/1a40e2ac?page=110"> Index of Advertisers Advokatfirman Carler </a>
<a title="Business Restructuring & Insolvency Report 2017 page 111" href="http://viewer.zmags.com/publication/1a40e2ac?page=111"> Global teams. Sector specialists. One coordinated</a>
<a title="Business Restructuring & Insolvency Report 2017 page 112" href="http://viewer.zmags.com/publication/1a40e2ac?page=112"> Global reach and commercial insight – award winni</a>