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Best regards
Zmags
Fourth Edition 2018 Published by TIMES Group
Business
Restructuring
& Insolvency Report
www.pwc.ie
PwC Ireland
Business Recovery
Services
Declan McDonald
PwC's Business Recovery Services team provides advice on
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+353 1 792 6092
declan.mcdonald@ie.pwc.com
Ken Tyrrell
+353 1 792 5184
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Please see www.pwc.com/structu
Fourth Edition 2018
www.pwc.ie PwC Ireland Business Recovery Servic
Business Restructuring & Insolvency Report
Onshore. Offshore. One coordinated approach Gra
Contents 7 Roadmap to the future By A
Navigating turbulent time
Contents 38 Restructuring and Insolvency in
Making the difference TAX AND LEGAL ADVICE With
Roadmap to the future By Adam Harris, INSOL Presi
INSOL has undertaken in recent years. Whilst INSO
the website. In fact, INSOL International produce
Blockchains, smart contracts, and cyber- currenci
insolvency disputes often present novel and untes
ixpert / Shutterstock.com
An overview of insolvencies in Europe By Radu Lot
increase the efficiency and certainty of gr
Country Number Tr
www.pwc.nl Restructuring solutions that matter
Modernising insolvency law: the continuing work o
individual debtors. Although it can be used with
nition of a planning proceeding, to decline to co
www.pwc.co.za Business Restructuring Servic
Insolvency regimes to promote entrepreneurship an
in practice) is not an easy undertaking but a wor
Best practices dictate that a country's restructu
Financial Crisis 24 ten years on xtock / Shutters
By Declan McDonald, Partner, PwC Ireland Head of
NAMA commenced acquiring loans in early 2010 whil
debt (at par) and real estate collateral change h
28 Joachim Wendler / Shutterstock.c
Restructuring Reforms – recent examples of innova
Universalism, Territorialism and the rule in Gibb
away, both creditors would remain able to enforce
fellner wratzfeld partner we pitch a perfect ga
Restructuring and Insolvency in Austria By Markus
Damira / Shutterstock.com
Consultants (et al) in March 2016. These guidelin
Vaflya / Shutterstock.com
is able to pay at least 30% of the claims of its
Restructuring and Insolvency in Austria and CEE.
Resolution AG. This first `wave' of nationalisati
AlexLMX / Shutterstock.com · a proposal for
Austria's largest banks have over-performed on th
AlexLMX / Shutterstock.com There is a ca
The new law shall come into force on 1 May 2018 a
designer491 / Shutterstock.com
Subject to the exceptions as provided in the Coll
Ask Not What the Statute Says You Can Do, Ask Wha
person or without notice as it may see fit, make
Chapter 11 The US Trustee is a neutral third part
Sebastian Kaulitzki / Shutterstock.com
Multi jurisdiction offshore structures – complexi
Common problems associated with offshore in- solv
stead harmonising insolvency law. The complexitie
Lisa S / Shutterstock.com Ongoing Insolven
company experiences financial difficulties. The I
The agreement will also provide a guarantee to pa
4. Job preservation Finally, the Insolvency Bill
Update on Dutch restructurings By Vincent Vroom a
legislative side. Six years ago the Dutch legisla
distress to propose a composition to its creditor
competent court by the pledgee. At the court hear
Restructuring and Insolvency in Sub-Saharan Afric
has also over the period been liquidated by the O
hopefully lead to the acceptance of insolvency la
In South Africa, Business Rescue (as set out in C
The Swedish law firm specialised in turnarounds, b
Valery Evlakhov / Shutterstock.com Issues
that will demand too much in negotiations will, o
This method is best when the claimant evidently h
Walder Wyss Ltd. Zurich, Geneva, Basel, Berne,
Is a financially sound Swiss subsidiary allowed t
General Duties of the Board The primary duty of t
NicoElNino / Shutterstock.com
Characteristics of Chapter 11 Proceeding At this
conversion of its proceeding into a chapter 15 pr
Index of Advertisers Advokatfirman Carle
A talented team for high-precision work At Na