If your company is insolvent and unable to pay its debts, best speak to a trusted and experienced advisor who can guide you through the liquidation process.

We can best advise on your options in confidence.

Insolvency

Creditors Voluntary Liquidations

Is your company insolvent and unable to pay its debts as they fall due?

Creditors Voluntary Liquidations

  • Obtain professional advice and avoid unnecessary worry and stress

  • Avoid prosecution from trading insolvently

  • Limit personal exposure by acting responsibly in accordance with the Companies Act 2014 and your legal duties as a company director

  • Act early and allow yourself to move forward to new challenges

If your company is in difficulty, best speak to a trusted and experienced advisor who can guide you through the liquidation process and outline the practical steps involved including:

If your company is in difficulty, best speak to a trusted and experienced advisor who can guide you through the liquidation process and outline the practical steps involved including:

  • The liquidation procedure for Creditors Voluntary Liquidations

  • Protecting company assets in the pre-liquidation period

  • Communicating with employees

  • Dealing with various creditors’ claims (secured, unsecured)

The benefits of obtaining our service as Liquidator are:

The benefits of obtaining our service as Liquidator are:

  • Expert Liquidator with professionalism and experience of winding up companies in a timely and orderly manner giving you peace of mind

  • Cost Efficient service due to our streamlined practice and tailored systems

  • Track Record of insolvency assignments with high asset realisations thereby maximizing the dividend payable to creditors

To advise you on the steps to place your company into liquidation, call Ultan on 01 444 5260 who can best advise on your options in confidence.

Court Liquidation

A Court Liquidation is commenced by order of the court on foot of a petition. The petitioner in a compulsory liquidation is most commonly the company or a creditor who will petition on the ground that a company is unable to pay its debts.

We accept appointments as court or official liquidator.

Examinership

Examinership is a process in Irish law whereby the protection of the Court is obtained to assist the survival of a company, allowing a company to restructure with the approval of the High Court. Introduced by the Companies (Amendment Act) 1990 the facility is an effective process for comnpanies to deal with onerous debt while retaining the core business. At McCarthy Walsh we can guide a company through the process.

Receivership

A receivership is a process by which a creditor (usually a financial institution), who holds a charge on the assets of a company as security for its debts, appoints a Receiver to recover the money due to it.

 

The function of a Receiver appointed by a debenture holder is to take possession of the assets, subject to the debenture holder’s charge. Typically, the Receiver will then realise those assets and pay off the debenture holder. However, depending on the terms of the appointment, the Receiver might decide to continue trading with a view to increasing the value of the company’s assets or, alternatively, the Receiver might sell the business as a going concern.

 

Our objective is to sell the business as a going concern to safeguard the jobs of the employees and help maximise the return for the secured creditor.

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