Corporate Recovery: Rebuilding a shattered economy

Personal insolvency legislation will have a major effect on struggling businesses, writes Dave Boland.

24th February, 2013
Barry Cahir, chairman of the Irish Society of Insolvency Practitioners (Isip): 'Examinership is very formal and rigid, and it can be expensive.' Photo: Tony O'Shea

Insolvencies are still happening and, if the statistics are to be believed, they are happening at an accelerated rate.

From a total of 1,525 in 2010 (according to the Insolvency Journal), the instances of insolvency among Irish companies rose to 1,638 in 2011; and just when it looked like the economy might have been turning a corner, Irish insolvencies outdid themselves once again, with 1,694 companies going out of business in 2012.

The majority of these insolvencies still happened in the...

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