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Ease of Doing Business in

Ireland

Ireland Download Profile (1735.5KB, pdf)
Region OECD high income
Income Category High income
Population 4,640,703
GNI Per Capita (US$) 46,680
City covered Dublin

190

1

DB 2017 Rank

1

100

DB 2017 DTF (% points)

  • local_library
  • group
Topics DB 2017 Rank DB 2016 Rank info_outline Change in Rank DB 2017 DTF (% points) info_outline DB 2016 DTF (% points) info_outline Change in DTF (% points) info_outline
Overall 18 15 down
3
79.53 79.25 down
0.28
Starting a Business 10 19 up
9
95.91 94.18 up
1.73
Dealing with Construction Permits 38 43 up
5
76.01 75.03 up
0.98
Getting Electricity 33 27 down
6
84.19 84.17 up
0.02
Registering Property 41 40 down
1
76.28 76.27 up
0.01
Getting Credit 32 29 down
3
70.00 70.00
-
Protecting Minority Investors 13 10 down
3
73.33 73.33
-
Paying Taxes 5 5
-
94.40 94.40
-
Trading across Borders 47 47
-
87.25 87.25
-
Enforcing Contracts 90 88 down
2
57.88 57.88
-
Resolving Insolvency 17 17
-
80.01 80.01
-

Positive= Doing Business reform making it easier to do business.Negative= Change making it more difficult to do business.

DB 2017 Rank:

17

DB 2016 Rank:

17

Change in Rank:

0

DB 2017 DTF (% points):

80.01

DB 2016 DTF (% points):

80.01

Change in DTF (% points):

0.00

Indicator Ireland OECD high income
Recovery rate (cents on the dollar) info_outline 87.7 73.0
Time (years) info_outline 0.4 1.7
Cost (% of estate) info_outline 9 9.1
Outcome (0 as piecemeal sale and 1 as going concern) info_outline 1 ..
Strength of insolvency framework index (0-16) info_outline 10.5 12.1
  • Indicator Explanation Answer
    Recovery rate (cents on the dollar) 87.7
    Proceeding Mirage management will file a petition for judicial protection and appointment of the examiner. The examiner will then propose a scheme of arrangement in order to preserve the company as a going concern. This scheme has to be adopted by at least one class of creditors. If BizBank votes against the scheme of arrangement, it can still be adopted, if other creditors vote in support and BizBank is not prejudiced by the arrangement. reorganization
    Outcome If the scheme of arrangement is accepted, the hotel will continue operating, however, there may be a new owner. going concern
    Time (in years) Mirage's management would file a petition for appointment of an examiner, supported by proof that the company is unable to pay its debts but has a reasonable prospect of survival as a going concern. This position must also be confirmed in a report prepared by an independent accountant, which must be filed together with the petition. From the time of the filing of the petition, the company is under protection of the court and all enforcement actions will be stayed. The court will hear the petition ex parte and appoint a temporary examiner. The court will then schedule a full hearing 7-10 days ahead, which must be advertised to the creditors, so that they can attend. If the court decides to accept the petition, it will also appoint a permanent examiner. The protection period lasts 70 days, but can be extended to 100 days, during which time the examiner must propose a scheme of arrangement, which will be circulated to all creditors. At least one class of creditors must accept the arrangement in order for it to be submitted to the court. The court will hold a confirmation hearing (usually within 2 weeks of when the scheme of arrangement is submitted). If the court approves the scheme of arrangement, it becomes binding on all creditors, even those who did not support it. A scheme of arrangement frequently involves a new investor acquiring all or substantially all of the shareholding in the company together with a write down of the company’s debt across a range of classes of creditors. 0.4
    Cost (% of estate) The majority of the expenses are comprised of attorney fees (up to 4%) and fees of the examiner (up to 4%), as well as fees of other professionals involved in the insolvency proceedings, such as accountants, appraisers, etc. 9.0
    Answer Score
    Strength of insolvency framework index (0-16) 10.5
    Commencement of proceedings index (0-3) 3.0
    What procedures are available to a DEBTOR when commencing insolvency proceedings? (a) Debtor may file for both liquidation and reorganization 1.0
    Does the insolvency framework allow a CREDITOR to file for insolvency of the debtor? (a) Yes, a creditor may file for both liquidation and reorganization 1.0
    What basis for commencement of the insolvency proceedings is allowed under the insolvency framework? (c) Both (a) and (b) options are available, but only one of them needs to be complied with 1.0
    Management of debtor's assets index (0-6) 5.0
    Does the insolvency framework allow the continuation of contracts supplying essential goods and services to the debtor? Yes 1.0
    Does the insolvency framework allow the rejection by the debtor of overly burdensome contracts? Yes 1.0
    Does the insolvency framework allow avoidance of preferential transactions? Yes 1.0
    Does the insolvency framework allow avoidance of undervalued transactions? No 0.0
    Does the insolvency framework provide for the possibility of the debtor obtaining credit after commencement of insolvency proceedings? Yes 1.0
    Does the insolvency framework assign priority to post-commencement credit? (b) Yes over ordinary unsecured creditors but not over secured creditors 1.0
    Reorganization proceedings index (0-3) 1.5
    Which creditors vote on the proposed reorganization plan? (a) All creditors 0.5
    Does the insolvency framework require that dissenting creditors in reorganization receive at least as much as what they would obtain in a liquidation? No 0.0
    Are the creditors devided into classes for the purposes of voting on the reorganization plan, does each class vote separately and are creditors in the same class treated equally? Yes 1.0
    Creditor participation index (0-4) 1.0
    Does the insolvency framework require approval by the creditors for selection or appointment of the insolvency representative? No 0.0
    Does the insolvency framework require approval by the creditors for sale of substantial assets of the debtor? No 0.0
    Does the insolvency framework provide that a creditor has the right to request information from the insolvency representative? No 0.0
    Does the insolvency framework provide that a creditor has the right to object to decisions accepting or rejecting creditors' claims? Yes 1.0

Note: Even if the economy’s legal framework includes provisions related to insolvency proceedings (liquidation or reorganization), the economy receives 0 points for the strength of insolvency framework index, if time, cost and outcome indicators are recorded as “no practice”.