Tony O’Grady is "one of the most technically proficient lawyers in the market".
Chambers Global & Europe

Expertise

Tony O’Grady is a partner in the Commercial Litigation and Dispute Resolution Department and head of the Corporate Restructuring and Insolvency Group at Matheson. He advises on all aspects of corporate restructuring and insolvency law matters and represents a number of financial institutions, public and private companies and insolvency office-holders.

Tony is a member of INSOL, R3 and the Insolvency Lawyers Association. He lectures frequently on corporate restructuring and insolvency law matters. He has spoken at conferences organised by many professional bodies and other organisations including most recently the American Bankruptcy Institute. He has written widely on the subject of insolvency and is co-author of the Law Society of Ireland's insolvency manual.

Experience Highlights

Tony has advised:

in high profile restructurings of Aer Arann, Cityjet, Nordic Aviation and Stobart Aer;
in relation to numerous international and domestic financial institutions financial institutions in relation to distressed debt resolution;
insolvency officiaIs in relation to numerous large domestic insolvencies including many in the aviation sector; and
in numerous other cross-border insolvencies and restructurings over the years including those relating to KPNQwest, Exodus Communications, Flightlease, Sea Containers, Eurofood, (the Irish subsidiary of the Parmalat Group, in relation to the first reference to the European Court of Justice for an interpretation of the European Insolvency Regulation) and Petroceltic.

Accolades

Tony O'Grady is recommended.
European Legal 500 2020

Tony O'Grady is named a leading individual.
European Legal 500 2020

Tony O'Grady has "unrivalled experience and respect in this field".
European Legal 500 2020

Tony O’Grady is named a ‘Market Leader’
IFLR1000 2020

"Tony O’Grady has been recognised by The Legal 500 as an elite leading lawyer."
Legal 500 EMEA Hall of Fame 2020

“We deal with Brendan Colgan and Tony O’Grady. Brendan is extremely technically proficient and effective, whilst Tony has unrivalled experience and respect in this field.”
Insolvency and Corporate Restructuring: European Legal 500 2020

Tony O’Grady is named a leading individual.
European Legal 500 2019

Tony O’Grady is "recognised across the market as the foremost practitioner in this space," and described as being "highly technical, but also commercial and approachable".
Restructuring / Insolvency: Chambers Europe 2019

"The way he solves potentially litigious, acrimonious problems and finds solutions with minimal collateral damage is beautiful."
Chambers Europe 2019

Tony O’Grady is a "strong lawyer who practically uses his depth of knowledge to provide sound commercial advice."
IFLR1000 2019

Recognised for Insolvency and Reorganisation Law
Best Lawyers Ireland 2019 edition

"Tony O’Grady is at the absolute top of his profession."
Chambers Europe 2018

Tony is "a top-notch and knows everything there is to know about insolvency."
Chambers Europe 2018

Tony O'Grady is named a Market Leader.
IFLR1000 2018

Recognised for Insolvency and Reorganisation Law
Best Lawyers Ireland 2018 edition

Tony O’Grady is named a leading individual.
European Legal 500 2017

Tony O’Grady is named a leading lawyer.
IFLR1000 2017

Education

Admitted as a solicitor in Ireland - 1993

University College Cork

Irish court approves rescue scheme for Irish-based aircraft lessor Nordic Aviation

Sep 28, 2020, 23:48 PM

The High Court recently in an ex tempore (unwritten) judgment (to be followed by a more detailed written judgment) approved a scheme of arrangement under Part 9 of the Companies Act 2014 in what may be a template for future restructurings in the aviation sector and a further example, following on from the Weatherford and Ballantyne cases, of the Irish courts’ willingness to facilitate large international restructurings.

Title : Irish court approves rescue scheme for Irish-based aircraft lessor Nordic Aviation

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Insight Date : Jul 29, 2020, 12:10 PM

The case concerned the Nordic Aviation group, the largest regional aircraft lessor and the fifth largest aircraft lessor globally.

A scheme of arrangement under Part 9 of the Companies Act 2014 is very similar to a scheme of arrangement under the law of England and Wales. It is a flexible restructuring tool, requiring the approval of at least 75% in value and a majority in number of affected classes of creditors and court sanction to be binding. A significant distinction between such scheme of arrangement and its counterpart in England and Wales is that the court may on application grant a moratorium with regard to creditor actions to facilitate approval of the scheme. This is a feature of examinership also, the more widely used restructuring process in Ireland, which also, perhaps confusingly, entails use of a scheme of arrangement.

Although ultimately unopposed, the judgment of the High Court clarified a number of matters, including the following.

It re-affirmed, following Ballantyne, the ability to affect third party liabilities. It went one step further than the court in Ballantyne in that the company which proposed the scheme was the guarantor of the relevant liabilities and the third parties were the principal creditors.

Following case-law in England and Wales, it confirmed that the order approving the scheme was a judgment enforceable under the Brussels Regulation.

It held that, because of the overwhelming creditor support the scheme received, it did not constitute a non-consensual restriction on an enforcement remedy for the purposes of Article XI of Alternative A of the Aircraft Protocol to the Capetown Convention.

Recognition of the order under chapter 15 of the US Bankruptcy Code has been entered by the New York Bankruptcy Court.

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