Subsidiary of a wealthy foreign owned company

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Limited liability protects an owner in the case of involuntary insolvency.

If an Irish company went into involuntary liquidation would a large, very profitable foreign company that owned it 100% be able to walk away without honouring debts such as TUPE redundancy agreements and money owed to Revenue? Would there be any complications for the foreign company owners being directors in the UK (unlikely) or Europe outside Ireland?

Victor

The biggest issue for them would likely be reputational. Note that shenanigans™ usually pose at least some legal difficulty. In particular, Revenue do not like being done over.

Is this homework?

Peregrinus

Legally, they could walk away, unless the parent company had, e.g., issued guarantees of some of the subsidiary's liabilities.

As Victor says, there'd be a reputational issues. With inward direct investment into Ireland, if the Irish operation is closed its very much the practice for the foreign parent to ensure that all liabilities are fully met. But this isn't a legal obligation and if it wasn't done then, absent some complicating factor like fraud, there would be no legal consequences for the foreign parent or its directors.

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Thanks both. The responses reflect my take also.