Case Study – Nordic Aviation Capital Designated Activity Company Scheme of Arrangement

24 July, 2020

SCHEMES OF ARRANGEMENT NORDIC AVIATION CAPITAL DESIGNATED ACTIVITY COMPANY CASE STUDY Background On 21 July 2020, the Irish High Court (Commercial Court) approved a Scheme of Arrangement presented by Nordic Aviation Capital Designated Activity Company and its wider group (“NAC”) pursuant to Chapter 1 of Part 9 of the Companies Act 2014 (the “Act”) restructuring […]

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CJEU strikes down EU-US Privacy Shield

21 July, 2020

On the 16th of July 2020 the Court of Justice of the European Union (“CJEU”) declared the EU-US Privacy Shield agreement (the “Privacy Shield”) invalid on the basis that it did not sufficiently protect the personal data of European citizens to the standard required by EU 2016/679 General Data Protection Regulation (the “GDPR”).   Under […]

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Scheme of Arrangements

9 July, 2020

The Scheme of Arrangement process is a very powerful tool that can be used by companies to restructure their debts and provides a cheaper alternative to examinership. It can also be used by companies to reorganise their group structure. Scheme of Arrangement – what is it? A Scheme of Arrangement is a procedure under Chapter […]

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Going Concern Considerations

2 July, 2020

Presumption of carrying on business as a Going Concern Paragraph 11 of Schedule 3 of the Companies Act 2014 (the “Act”) provides that the amounts to be included in the financial statements of a company are to be determined in accordance with accounting principles set out in Paragraphs 12 to 17 of Schedule 3 of […]

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Introduction to Practical Completion

5 June, 2020

What is practical completion? Practical completion is vitally important in construction projects. It is a landmark in works which represents handing over of possession of a site and the transfer of insurance liability from the contractor to owner. Further, when practical completion is achieved, this often triggers the release of retention monies and any other […]

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