• Home
  • NAMA property for sale
  • About
  • The Developers
  • The Tranches

NAMA Wine Lake

Click the green link above for latest news and over 2,600 related articles. NAMA – National Asset Management Agency – part of Ireland's response to its banking crisis and property bubble

Feeds:
Posts
Comments
« Pension reserve loses €457m in one month on its directed investments in AIB and Bank of Ireland
IMF at the door? For the sake of the country, open it and usher them in. »

NAMA appoints legal panel to advise on insolvency and financial restructuring (including the advancing of new credit by NAMA)

November 5, 2010 by namawinelake

Whilst it is still a major concern that NAMA is severely under-resourced to manage a portfolio of loans of €73bn at par value and €30bn-odd at acquisition value, with just 43 employees it appears that NAMA has at last appointed another panel of legal advisers to assist with enforcement proceedings (foreclosure of loans, receiverships, insolvency – note that the contract awarded is for legal advice, the contract for actual insolvency practitioners has not been awarded yet though as reported on here the fees are likely to be juicy) and refinancing (NAMA hopes to be able to advance up to €5bn to developers mostly to complete projects).

The tender was advertised in March 2010 and the panel was appointed last week. It’s the usual faces as regards the Irish firms.

(1) A&L Goodbody Solicitors

(2) Arthur Cox

(3) Beauchamps Solicitors

(4) Byrne Wallace

(5) Eugene F. Collins

(6) Eversheds O’Donnell Sweeney Solicitors

(7) Gartlan Furey Solicitors

(8) Hayes Solicitors

(9) Lavelle Coleman Solicitors

(10) LK Shields Solicitors

(11) Maples and Calder

(12) Mason Hayes + Curran

(13) Matheson Ormsby Prentice

(14) McCann Fitzgerald

(15) McDowell Purcell Solicitors

(16) Ronan Daly Jermyn Solicitors

(17) Whitney Moore Solicitors

(18) William Fry

Nine of the UK firms were reported on here in September 2010. The complete list on the panel is (and don’t be surprised to see some Irish-centred firms)

(1) A&L Goodbody Solicitors

(2) Allen & Overy LLP

(3) Arthur Cox

(4) Ashurst LLP

(5) Brodies LLP

(6) Burges Salmon LLP

(7) Burness LLP

(8) C & H Jefferson Solicitors

(9) Carson McDowell

(10) Clifford Chance LLP

(11) Denton Wilde Sapte LLP

(12) DLA Piper UK LLP

(13) Dundas & Wilson LLP

(14) DWF LLP

(15) Eversheds LLP

(16) Herbert Smith LLP

(17) Hogan Lovells International LLP

(18) John McKee & Son Solicitors

(19) MacFarlanes LLP

(20) Nabarro LLP

(21) Olswang LLP

(22) Simmons & Simmons

(23) Slaughter and May

(24) Taylor Wessing LLP

(25) Tods Murray LLP

(26) Tughans Solicitors

(27) Wragge & Co LLP

UPDATE: 8th November, 2010. The Sunday Tribune reports that the redoubtable Mr Justice Peter Kelly reduced McCann Fitzgerald’s (no 14 above for Ireland) fees in an insolvency case by 21%. He is reported to have said “The economic climate in this state has changed radically since February 2006 and the court cannot but be aware of substantial reductions in fees in the majority of professions. It is not open to the court to close its eyes to this reality in carrying out the statutory function entrusted to it”

Share this:

  • Twitter
  • Facebook
  • Reddit

Like this:

Like Loading...

Related

Posted in NAMA | 3 Comments

3 Responses

  1. on November 6, 2010 at 2:59 pm Jp

    I make that four Belfast based firms: Tughans, CarMc, John McKee and Jeffersons. Though Goodbody and Arthur Cox also have offices there. Indeed Arthur Cox should have the highly rated insolvency guy Kieran McGarrigle starting on Monday. He was the head of insolvency at L’estrange and Brett but seems to have bailed about the time they got taken over by McGrigors. I can’t imagine he had much of a leaving do as McGrigors reckoned his move was not strictly performed within the terms of his contract. They issued High Court proceedings in an attempt to injunct him out of practice until 2012 and were also seeking damages. Though one assumes the whole thing has now been settled.


    • on November 6, 2010 at 3:22 pm namawinelake

      Indeed Kieran’s profile seems to have been unceremoniously removed from McGrigors’ website (http://www.mcgrigors.com/404.html?aspxerrorpath=/our_people/partners/kieran_mcgarrigle.html) though if you’re quick you will still find the cached version of his profile which was indeed glowing – “Kieran was named as a “leader in the field” for restructuring/insolvency in Chambers UK Guide to the Legal Profession in 2009 and was described as an “impressive insolvency specialist”. The Guide also describes him as an “good guy with a good reputation in the marketplace. He is very personable, pragmatic and sensible to deal with, and will work collaboratively with you”. Kieran is also recommended by both the Legal 500 and the European Legal 500 for restructuring and insolvency related matters. ” His appointment at Arthur Cox seems to have been accompanied by little fanfare (I see his profile has been amended at Chambers and Partners http://www.chambersandpartners.com/uk/Firms/480-34839/214481 and is included under the Arthur Cox firm profile http://www.chambersandpartners.com/uk/Firms/480-34786)


  2. on November 7, 2010 at 11:53 am Jp

    I notice a few Scottish firms on the UK list, perhaps reflecting that virtually all big northern developers loved the Scottish shopping centre. Dundas and Wilson who are on that list were unsecured creditors to the tune of £900k when the Hegarty’s went under.



Comments are closed.

  • Recent Posts

    • Test – 12 November 2018
    • Farewell from NWL
    • Happy 70th Birthday, Michael
    • Of the Week…
    • Noonan denies IBRC legal fees loan approval to Paddy McKillen was in breach of European Commission commitments
    • Gayle Killilea Dunne asks to be added as notice party in Sean Dunne’s bankruptcy
    • NAMA sues Maria Byrne and Graham Byrne in Dublin’s High Court
    • Johnny Ronan finally wins a court case
  • Recent Comments

    Wisemama on Eddie Hobbs’s US “partner” fir…
    Dorothy Jones on Of the Week…
    Sean Bean on Eddie Hobbs’s US “partner” fir…
    John Foody on Of the Week…
    Wisemama on Eddie Hobbs’s US “partner” fir…
    otto on Of the Week…
    Frank Street on Of the Week…
    Wisemama on Eddie Hobbs’s US “partner” fir…
    John Gallaher on Of the Week…
    John Gallaher on Of the Week…
    who_shot_the_tiger on Eddie Hobbs’s US “partner” fir…
    Sean Bean on Eddie Hobbs’s US “partner” fir…
    otto on Of the Week…
    Brian Flanagan on Of the Week…
    Robert Browne on Gayle Killilea Dunne asks to b…
  • Twitter Updates

    • Funniest case in Irish legal history? 1. ex-Cllr Fred Forsey convicted of RECEIVING a corrupt payment 2. developer… twitter.com/i/web/status/1… 3 years ago
    • Really looking forward to this at 9pm tonight, esp the first Garda on the scene. Well worth reading this background… twitter.com/i/web/status/1… 3 years ago
    • Tea time on the day the president of the ECB tells us we [in Ireland] are paying more interest on our loans than th… twitter.com/i/web/status/1… 3 years ago
    • “I am grateful for you to refer to Mr Sugarman...on the specific question of Unicredit, responsibility at ECB lies… twitter.com/i/web/status/1… 3 years ago
    • @JMcGuinnessTD now confronts ECB about "the honest whistleblower" @WhistleIRL and his disclosures of liquidity issu… twitter.com/i/web/status/1… 3 years ago
    • Details, including court documents of class action in New York against Ryanair and CEO Michael O'Leary.… twitter.com/i/web/status/1… 3 years ago
    • Draghi tells @paulmurphy_TD the ECB doesn't remove govts, the people do, that's democracy. Bet the people will be m… twitter.com/i/web/status/1… 3 years ago
    • Wow! Draghi says there is no net interest cost for the Anglo bonds whilst they're held by the Irish central bank. T… twitter.com/i/web/status/1… 3 years ago
    Follow @namawinelake
  • Click on date for that day’s posts

    November 2010
    M T W T F S S
    1234567
    891011121314
    15161718192021
    22232425262728
    2930  
    « Oct   Dec »
  • Blog Stats

    • 5,104,388 hits

Blog at WordPress.com.

WPThemes.


Privacy & Cookies: This site uses cookies. By continuing to use this website, you agree to their use.
To find out more, including how to control cookies, see here: Cookie Policy
  • Follow Following
    • NAMA Wine Lake
    • Join 10,037 other followers
    • Already have a WordPress.com account? Log in now.
    • NAMA Wine Lake
    • Customize
    • Follow Following
    • Sign up
    • Log in
    • Copy shortlink
    • Report this content
    • View post in Reader
    • Manage subscriptions
    • Collapse this bar
%d bloggers like this: