Wednesday November 25, 2020

Doubts over scheme to help small firms fighting for survival

A new route through the circuit court for cash-strapped firms may sound like a good idea, but legal and professional fees are only part of the bill that needs to be paid, writes Declan McDonald.

8th December, 2013
Declan McDonald, restructuring and insolvency partner at PricewaterhouseCoopers (PWC). Picture: Maura Hickey

The government's recent decision to allow examinership applications through the circuit court may sound like welcome news for many cash-strapped businesses.

Dubbed ''examinership lite'', the new system is designed to reduce the cost of using the examinership process to restructure and save businesses. While positive, a note of caution needs to be sounded, also.

Many in the insolvency profession are sceptical about the cost savings that will result. Others have voiced concerns over the ability...

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