Again you seem to miss the point. This is not about "cutting loose foreign subsidiaries". This process is about re-structuring the debt and making the necessary changes in order to continue as a going concern. Since a lot of the aircraft are held in Ireland, and presumably Ireland has favorable legislation, the process has been started in Ireland. The Irish Examinership also includes protection for the parent company in Oslo. It is quite obvious that in a situation like this the whole company will need re-estructuring. They have also filed for a similar process in Norway and I guess there must be sound legal reasons to do so.
I don't know if you have noticed but the whole aviation industry is on its knees. Virtually no one is paying their debts on time and in full. In fact most, if not all, airlines are receiving vast public subsidies to avoid going under.
As you enjoy pontificating on the issue why not have a wee read?
https://leman.ie/examinership/