In the Matter of MAC - Interiors Ltd (Approved) [2023] IEHC 395 (11 July 2023)

In the Matter of MAC - Interiors Ltd (Approved) [2023] IEHC 395 (11 July 2023)

The Irish High Court has jurisdiction to appoint an examiner to Mac Interiors Limited under Article 3.1 of the EU Insolvency Regulation because the company’s centre of main interests is in Ireland, as established by objective evidence. The direct effect of the Regulation overrides the restrictive domestic definition of 'company.' The company is insolvent and there is a reasonable prospect of its survival as a going concern, thus the statutory preconditions for examinership are met.

Citation
[2023] IEHC 395
Parties
Petitioner: Mac Interiors Limited; Creditor: Revenue Commissioners; Contingent Creditor: Joseph Chamberlain College; Contingent Creditor: Staffordshire County Council; Interim Examiner/appointee: Kieran Wallace (Interpath Advisory)
Jurisdiction
Ireland
Judgment Date
11 July 2023
Procedural Posture
Petition for Appointment of Examiner (insolvency) / Judgment on Appointment of Examiner
Outcome
Examiner appointed
Legal Topics
Examinership, Jurisdiction Under EU Insolvency Regulation, Centre of Main Interests (comi), Direct Effect of EU Law, Scheme of Arrangement, Cross Border Insolvency
Insolvency Company Law EU Law Examinership Jurisdiction Under EU Insolvency Regulation Centre of Main Interests (comi) Direct Effect of EU Law Scheme of Arrangement +1 more

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Parties

Mac Interiors Limited

Petitioner

Revenue Commissioners

Creditor

Joseph Chamberlain College

Contingent Creditor

Staffordshire County Council

Contingent Creditor

Kieran Wallace (Interpath Advisory)

Interim Examiner/appointee

Procedural Posture

Petition for Appointment of Examiner (insolvency) / Judgment on Appointment of Examiner

Legal Issues

  1. 1 Does the Irish High Court have jurisdiction to appoint an examiner to a company incorporated outside the State but with its centre of main interests (COMI) in Ireland?
  2. 2 Is Mac Interiors Limited eligible for examinership under Part 10 of the Companies Act 2014, given its incorporation in Northern Ireland?
  3. 3 Has the presumption that COMI is at the registered office been rebutted?

Ratio Decidendi

The Irish High Court has jurisdiction to appoint an examiner to Mac Interiors Limited under Article 3.1 of the EU Insolvency Regulation because the company’s centre of main interests is in Ireland, as established by objective evidence. The direct effect of the Regulation overrides the restrictive domestic definition of 'company.' The company is insolvent and there is a reasonable prospect of its survival as a going concern, thus the statutory preconditions for examinership are met.

Court Disposition

Examiner appointed

Orders

  • Order appointing Mr. Kieran Wallace as examiner to Mac Interiors Limited.