Arbitral Digest

Matter

VTG Entrepenad AB v Mainline Power Limited and Mainline Sweden (High Court Record No. 2024/144 COS)

  1. 27 May 2024Arbitration

    27 May 2024Arbitration

    Arbitral award dated 27 May 2024

    Decision summary
    The arbitral tribunal held Mainline Power Limited and Mainline Sweden jointly and severally liable to VTG Entrepenad AB in the sum of €6.8 million.

    Supporting details

    3 participants
    VTG Entrepenad AB
    Mainline Power Limited
    Mainline Sweden

    1 month and 14 days later · 45 days

  2. 11 July 2024Ireland

    11 July 2024Ireland

    High Court order dated 11 July 2024 recognising and enforcing the arbitral award

    High Court

    Decision summary
    The High Court recognised and enforced the Swedish arbitral award under section 23 of the Arbitration Act 2010 and entered judgment against Mainline Power Limited in an amount of approximately €6 million.

    Supporting details

    1 authority · 4 participants
    VTG Entrepenad AB
    Mainline Power Limited
    Mainline Sweden
    High Court

    Authorities cited

    1
    • Arbitration Act 2010
      statute

    5 days later · 5 days

  3. 16 July 2024Ireland

    16 July 2024Ireland

    High Court judgment dated 16 July 2024 concerning the appointment of an examiner to Mainline Power Limited

    High Court

    Decision summary
    The High Court confirmed Nicholas O'Dwyer as examiner of Mainline Power Limited and directed him to investigate alleged misconduct concerning transfers made to the company's parent and report to the court.

    Supporting details

    3 participants
    Mainline Power Limited
    VTG Entrepenad AB
    High Court

    2 months and 25 days later · 87 days

  4. 11 October 2024Ireland

    11 October 2024Ireland

    Ex tempore judgment of the High Court in Record No. 2024/144 COS dated 11 October 2024

    High Court

    Decision summary
    The High Court confirmed, with minor modifications, the examiner's compromise proposals for Mainline Power Limited, including the proposed constitutional amendments. It held that the statutory confirmation requirements and best-interests test were satisfied, dispensed with quorum requirements for the retention-of-title and floating-charge creditor meetings, and rejected VTG Entrepenad AB's objections that the proposals were unfairly prejudicial or that creditors would fare better in a liquidation.

    Supporting details

    9 authorities · 5 participants
    Mainline Power Limited
    VTG Entrepenad AB
    Revenue Commissioners
    Bank of Ireland
    High Court

    Authorities cited

    9
    • Companies Act 2014
      statute
    • Arbitration Act 2010
      statute
    • European Union (Preventive Restructuring) Regulations 2022
      regulations
    • Re Traffic Group [2007] IEHC 445
      case
    • Re Mac Interiors [2023] IEHC 549
      case
    • Re Antigen Holdings [2001] 4 IR 600
      case
    • Re Cara Pharmacy Unlimited Company [2021] IEHC 123
      case
    • Rules of the Superior Courts, Order 74A rule 18
      court rules
    • Rules of the Superior Courts, Order 124 rule 1
      court rules

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VTG Entrepenad AB v Mainline Power Limited and Mainline Sweden (High Court Record No. 2024/144 COS) · Matter