Insolvency & Restructuring

Insolvency & Restructuring

Cosgrove Gaynard Solicitors combine extensive knowledge of the law together with practical experience to provide expert advice on all aspects of corporate restructuring and corporate recovery to practitioners, creditors, shareholders and financial institutions. We act in a wide range of Insolvency and restructuring matters including Examinerships, Liquidations and Receiverships.

Examinership 

We have an extremely active and sucessful insolvency & restructuring department working closely with a number of accountancy practices who are expers in the field of examinership. Our experience in this niche area of law is renouned and we have a proven track record being involved in 60% of all examinerships in Ireland from 2017 - 2019.

Indeed since the firm was incorporated, all applications we have made for the appointment of an Examiner on behalf of a petitioning company or directors, have been successfully brought before the court.

We have also acted for the Examiner, when appointed, on a number of occasions.

Whilst the majority of applications to date have been brought before the High Court, recent legislation has allowed SMEs to avail of the “examinership-lite” in the Circuit Court, which is promoted as being more cost-effective. .

If you wish to know more about the examinership process see:  https://www.cgsolicitors.ie/post/examinership

If you wish to discuss the Examinership process and procedure further, please do not hesitate to contact Susan Cosgrove directly on 01 234 0044 or by email : scosgrove@cgsolicitors.ie .

Receiverships

We have been instructed in a large number of receiverships, in particular where we can bring the added value of our well known property expertise into to mix. We have been instructed by practictioners, funds and banks in the appointment of the receiver and subsequent sale of assets and properties.

Liquidations

We are involved in a large number of liquidations annually. We act in both members voluntary winding ups and creditors winding ups. Our involvement will always differ between matters which vary from routine winding up applications to section 813/839 (previously section 150/160) applications where the restriction or disqualification of a director is sought or indeed defended depending on who we are acting for.

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Insolvency & Restructuring
recent publications:
My business is struggling, what are my options

When a business fails, for whatever reason, the liquidation of the company should not be the only option considered. There is another option to be considered called examinership.

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SCARP - Small company administrative rescue process announced

The Minister for Trade, Promotion, Digital and Company Regulation, yesterday announced government approval for the priority drafting of the Companies (Small Company Administrative Rescue Process and Miscellaneous Provisions) Bill 2021. The Bill amends the Companies Act 2014 by providing for a simplified restructuring process referred to as SCARP (small company administrative rescue process) for small and micro companies.

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What is examinership, and will it work for your business?

Examinership is a legal process coming under increasing attention over the last several years, as the media noted a marked rise in the number of businesses seeking it. But what exactly is examinership? Is it right for your business? And what are the risks you need to know about? Here is your guide to examinership - a detailed view of what you need to know.

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Cryptocurrencies from an insolvency perspective

In the context of insolvency, insolvency practitioners now have to deal with a new class of “digital asset” which I expect will cause some difficulty in terms of tracing and identification of assets, particularly taking into mind that there are a number of privacy coins designed to specifically avoid tracking and, indeed, there are crypto exchanges registered outside of EU jurisdictions and therefore avoiding stringent privacy policies which you would expect in this jurisdiction.

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Examinership - recent application

Cosgrove Gaynard solicitors were delighted to advise on another recent examinership petition to the High court.

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Personal Insolvency Bill : Explained

Minister for Justice Alan Shatter published the long-awaited Personal Insolvency Bill on the 29th June 2012 aimed at reforming insolvency laws, some of which have been in place for over a century.

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Examinership Lite

Plans were last week announced by Richard Bruton to provide an examinership lite process. Under the plan, firms will be able to apply directly to the Circuit Court to have an examiner appointed to their companies instead of the more expensive High Court process.

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Revised Code of Conduct on Mortgage Arrears

The Central Bank has today published the revised Code of Conduct on Mortgage Arrears which essentially sets out the framework for mortgage lenders/ banks in dealings with borrowers who are in arrears

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Examinership

Examinership basically provides for a court enforced moratorium on any action that may be taken by a creditor for a set period of time during which the examiner will attempt to restructure the company.

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For further information on Insolvency & Restructuring please contact Cosgrove Gaynard Solicitors by calling 01 2340044, by emailing us at info@cgsolicitors.ie or by filling out our online contact form. Your enquiry will be forwarded to a solicitor who specialises in Insolvency & Restructuring.

Other topics of interest:
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We advise clients in all areas of personal injury claims* from accidents at work*, road traffic accidents*, falls*, trips and slips*, public liability, medical negligence, medical malpractice, Garda compensation claims, Product Liability Claims to Compensation for Victims of Crime.

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Litigation*

Cosgrove Gaynard Solicitors have an excellent reputation and a distinguished record in Litigation. If you are involved in any kind of dispute or contentious matter please contact us for further information and advice.

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Commercial Property

Cosgrove Gaynard Solicitors have extensive experience and an in-depth knowledge of the complexities involved in relation to all aspects of commercial property law.

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