Kenneth Tyrrell was appointed receiver to Mericab Stores Limited on 6th January 2012 David Van Dessel was appointed liquidator to Gina's Hair & Beauty Limited on 10th January 2012

The Bankruptcy Order issued by the High Court in Belfast to Sean Quinn has been annulled by Mr Justice Deeny as of Tuesday 10th January 2012

Concern over the stability of the euro currency and high unemployment have severely affected consumer sentiment across the domestic sector and impacted on the continued growth rate of corporate insolvencies in Ireland. New statistics released by InsolvencyJournal.ie reveal that corporate insolvencies for 2011 have totalled 1,638. This total shows a 7% increase on the figure of 1,525 for 2010 and over 16% increase on 2009 figures. Geographically Leinster accounted for over 63% of all insolvencies, with Munster accounting for 21%, Connaught 11% and Ulster just 5%.

While the euro debt crisis is a relatively new phenomenon, it is impacting on consumer sentiment in Ireland which has already been severely undermined on the back of prolonged domestic financial challenges. This is affecting the continued growth rate of corporate insolvencies which are up 7% year on year.

The Partners and staff of kavanaghfennell would like to congratulate Nicola Norris on her exam success, Nicola was placed 3rd in the ACA FAE Exams 2011 out of a total of 1,142 students sitting the exams. Nicola commenced her training contract with kavanaghfennell in 2009 and works in our Insolvency division

Independent industry statistics released by InsolvencyJournal.ie, reveal that corporate insolvency figures for the month of October totalled 122 bringing the first 10 months of 2011 total to 1,330 insolvencies compared to a total of 1,250 insolvencies for the same period in 2010. Commenting on these latest findings Ken Fennell of kavanaghfennell the firm who compile the data commented, ‘’overall the figures remain high but there has not been a significant month on month increase over the last three months which would suggest that insolvencies have stabilised’’.

Despite some close calls and last minute swerves, the Swedish Car Manufacturer Saab has continued to keep the show on the road.

Independent industry statistics released by InsolvencyJournal.ie reveal that corporate insolvency figures for the quarter ending September 2011 totalled 389 insolvencies, a decrease of 8 per cent from the Q2 2011 figures and a third consecutive monthly reduction.

The third annual Corporate Restructuring Summit (the ‘Summit’) was held yesterday in the Convention Centre Dublin. In conjunction with law firm A&L Goodbody and insolvency advisory firm, kavanaghfennell, a number of domestic and international experts addressed the range of challenges facing Ireland. The Summit was attended by approximately 300 delegates. A number of comments, on restructuring, the disposal of Irish assets and Ireland’s prospects for recovery are included below for reference.