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New Examinership process for SME’s

Examinership is a process that allows a struggling business which has a prospect of survival, to avail of Court protection so that it has an opportunity to restructure its debts and thus give it a better prospect for recovery.

Until now this process could only be conducted through the High Court and therefore it was a prohibitively expensive process for many SMEs.

However, with the recent introduction of the Companies (Miscellaneous Provisions) Act, 2013 a new Circuit Court Examiner process has been introduced. The Circuit Court process is significantly more cost effective and will therefore help to aid many struggling SME’s which, if given the opportunity, have a viable chance at success.

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