Insolvency
Wherever the road takes you, we're there to support you
We have developed a strong reputation in the field of insolvency over the years. We pride ourselves on offering a suite of corporate insolvency services that allow our business clients to make the best decisions for their companies while ensuring compliance with Irish legislation. We offer empathy and understanding with the utmost professionalism and up-to-date legal knowledge.
We are highly skilled and experienced in all aspects of insolvency and have been appointed as the official Irish liquidator of numerous companies in recent years. Â We understand how daunting the prospect of insolvency can seem, which is why we're here to assist in all aspects of corporate insolvency and restructuring.
We guide you step by step through this complex journey, ensuring that you remain informed and in control at all times. Simply put, your business is in the safest possible hands when facing insolvency.
We're here to help demystify the liquidation process and allow you to make the right decisions for your ailing company.
How can we help you?
When you feel like your business’ finances are spiralling out of control, our suite of insolvency services can help to put you back in the driving seat. It’s easy to see voluntary liquidation as a surrender of control over your business, when in reality it is an assertion of control. We offer services that allow our clients to right the ship, arrange amicable agreements with creditors and ensure compliance with Irish legislation. Legislation may not be an eventuality that business owners relish, but we can help them to emerge from it in the best possible shape. Here are some of the ways in which we can help your business:
Review your current business to form an opinion on its future liability.
We offer comprehensive accounting services to help you to paint a clear picture of your business’ financial situation. Insolvency is much easier to manage if you can afford to be proactive, and we can furnish you with the information you need to make an informed decision.
Comply with the Irish corporate recovery and insolvency law
We advise on the statutory obligations under Irish corporate recovery and insolvency law. This ensures that if your business goes into liquidation or receivership the process is completely compliant. This is extremely important, given the host of legislative changes and new regulations put into place over the past 10 years.
Prepare all necessary documents
We can prepare all statutory documents on your behalf. In the event of a Creditors Voluntary Liquidation we can help you to draft your Statement of Affairs in accordance with the Companies Act.
Inform all parties involved
We can organise and schedule all the necessary meetings and help with providing due notification, including dealing with your creditors and employees.
Assisting businesses with a reasonable prospect of survival
Sometimes the right solution will involve an insolvency process, perhaps to protect a company’s business and assets from creditor enforcement action in order to facilitate a restructuring of the business or a better outcome for all creditors and other stakeholders.
What is Examinership?
- Examinership is a rescue procedure available to a company that is, or is likely to become insolvent.
- It typically involves new investment into the company and a write down of debt.
- Examinership involves a legal stay on enforcement for 100 day period. (the Companies (Miscellaneous Provisions) (Covid-19) Act 2020 has extended to 150 days)
- The process is most suited to trading companies.
- The Company should have a reasonable prospect of survival, following the successful implementation of a scheme of arrangement
- Predominantly a debtor-led process, however other interested parties can also initiate / petition
- A legally binding scheme of arrangement with all creditors to pay back a percentage of their debt over an agreed timeline in satisfaction of thEir entire claims
