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Full coverage: Insolvency

XS Direct was a small domestic business operating in a massive sector that has long been dysfunctional

XS Direct has ceased renewals for both direct customers and brokers in Ireland. It is not the first player to exit the market here. And given the malfunctioning industry, it will certainly not be the last.

Ian Kehoe
7th Jan, 2022 - 5 min read

As it finalises its Chapter 11 in Delaware, Mallinckrodt is lining up an Irish examinership

A New York-listed pharmaceutical multinational is seeking approval from US courts to emerge from a crushing pile of debt and litigation. The next steps will play out in the High Court in Dublin, where the firm is formally registered and owns billions of dollars' worth of intellectual property.

I. Kehoe and T. Hubert
7th Jan, 2022 - 4 min read

An accounting scandal at a UK cafe chain rumbles on. Three years on, how is it doing for its new Irish owners?

Dublin private equity firm Causeway Capital bought Patisserie Valerie out of administration following a collapse that has just seen the UK chain's former auditors fined over £2 million. It has not been an easy ride, but the new owners say they can turn the business around.

Thomas Hubert
28th Sep, 2021 - 5 min read

After 22 years and €59m in losses, Irish TV tech firm Emuse is calling in a liquidator

The company’s technology has been used in campaigns for Barbie, Audi and the Pirates of the Caribbean: At World's End movie. But facing mounting losses and the exit of a key client, Emuse is collapsing into liquidation.

Ian Kehoe
10th Sep, 2021 - 3 min read

An Irish company bet big on the mobile money market in Ethiopia. This is the story of how the bet went wrong

Dublin company M-Birr built a huge mobile money business in Ethiopia and secured a string of major shareholders. However, it has now collapsed and is currently up for sale. This is the story of what went wrong for the Irish company.

Ian Kehoe
10th Sep, 2021 - 5 min read

Spiralling costs, disgruntled customers and a mysterious Georgian deal: Can examinership save Shaw Academy?

The online education company is facing angry creditors for a second time. The High Court has given an examiner time to turn it around.

D.S Martin and T. Lyons
29th Jul, 2021 - 7 min read

Unprecedented circumstances, drastic solutions: The bowling alley dispute that impacts scores of Covid rental battles

When the Leisureplex at Dublin’s Charlestown stopped paying rent during the pandemic, the shopping centre’s owners went to court. A High Court judge has now issued the first judgement in over 50 commercial rent disputes.

I. Kehoe and T. Hubert
28th Jul, 2021 - 7 min read

The Leveris money trail flows from Belize to Australia. Now, the Irish fintech is being liquidated with debts of €38m

Creditors, including companies in Australia and Belize, have appointed a liquidator to Leveris, an Irish fintech that was once valued at €190m. Documents reveal who was owed money and how much they lost.

Ian Kehoe
21st Jul, 2021 - 2 min read

Bonds, insurance, creditors: How Covid infected one of the country’s oldest tour operators

Joe Walsh Tours was one of Ireland’s oldest travel agents and tour operators. However, board minutes, legal filings and correspondence with the regulator reveal just what went wrong, and who is owed what. They also shed light on the company’s battle to survive a pandemic.

Ian Kehoe
7th May, 2021 - 7 min read

Debenhams’ workers will not get €11m. But updating the law would mean their fight has not been in vain

Those who lost their jobs when the retailer’s Irish stores went into liquidation one year ago were promised enhanced redundancy, but existing rules means there is no money to pay it. How will the stand-off end?

Ian Kehoe
9th Apr, 2021 - 4 min read
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