Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Howley Civil Engineering has been wound up by the High Court after the court heard there were no prospects for its survival. The company, which was based in Co Cork and employed 250 people, was involved in the construction of Ireland's M3 motorway.
The Irish High Court had heard that the company was insolvent and unable to pay its debts due to a number of factors, including the slowdown in the construction sector and additional costs on motorway and retail projects. The company's directors had hoped to secure investors, but the examiner asked the court to wind up the company. A liquidator was subsequently appointed. Howley once employed 470 people.
Eurofound (2008), Howley Civil Engineering, Bankruptcy in Ireland, factsheet number 66976, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/66976.