ICSA Ireland

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Arrangement to be approved the day after application to confirm appointment

01 November 2020

Mr Neil Hughes of Baker Tilly Hughes Blake was appointed Interim Examiner of M.D.Y. Construction Ltd (the "Company") on 20 September 2018. The application to confirm his appointment was listed for hearing on 22 October 2018.

Prior to that hearing (at which his appointment was confirmed) the Interim Examiner delivered a report to the Court, stating that he had engaged with potential investors and formulated proposals for a scheme of arrangement.  This engagement included entering into an investment agreement and the issuance of notices convening meetings of members and creditors, pursuant to section 534(2) of the Act, for the purposes of considering and voting on the proposals. Interestingly and somewhat uniquely the meetings of the members and creditors were scheduled for the day after the hearing of the application to confirm the appointment of the examiner, i.e. 23 October 2018.