Examinership has the capacity to protect a viable business, or part of a business, and facilitate its survival. It can often provide a better solution for a company’s creditors than a traditional liquidation process but can be a challenging and stressful process for all those involved.
Here in HLB McKeogh Gallagher Ryan we are well placed to take on examinerships and help our clients address trading issues and meet the requirements of the High Court, which can be costly, time consuming and complex.
AS PART OF AN EXAMINERSHIP OUR ROLE INVOLVES
- Assisting with an investment agreement and sourcing investors
- Dividing creditors into different classes
- Formulating a scheme of arrangement
- If required examining the affairs of the company
- Monitoring performance during the examinership
- Meeting with creditors
- Reporting to the court
WE ARE ALSO IN A POSITION TO
- Assist in preparing the Independent Accountant’s Report required by the High Court to determine the merits of appointing an examiner over a company
- Provide advisory services to creditors keen to understand and protect their position in an examinership
We also advise clients on other schemes of arrangement, including Section 201 Arrangements. While similar to examinership in some areas these offer companies an alternative means of restructuring their balance sheets.