Representation

Representation at Creditors Meetings

The liquidation of a company can have a huge impact on the shareholders, employees, customers and creditors. If you have been supplying a company which has called a creditors meeting then the following questions arise.

Do we need to be represented at a creditors meeting?

What are the benefits of being represented?

In our experience the question of representation at a creditors meeting depends on a number of factors:

1. The amount of the debt
2. The conduct of the account leading up to the creditors meeting.
3. Is there any stock or equipment that can be recovered
4. Are any of your other customers at risk because of this liquidation
5. What are the benefits to having representation at the meeting?

The benefits of being represented at a creditors meeting are

1. The directors can be questioned generally and specifically regarding the management of the company
2. Your stock and/or equipment can be secured
3. You will receive the statement of affairs which shows all of the creditors (Including any of your other customers).
4. We will if required join the committee of inspection which oversees the liquidation.
5. A full report will be sent to you on the creditors meeting including recommendations on how to avoid this situation in the future.

If you have received a notification of a creditors meeting then contact us for a no obligation review of your options.

Customer Examinerships and Administration

An Examinership arises where a Company obtains the protection of the Court to allow it to trade without the fear of the Bank seeking to wind it up or take other enforcement action.

For a company to be successful in getting an examiner appointed, the Court has to consider a number of matters;

1. If the Company has a reasonable prospect for survival.
2. If the Company has investors who are ready to invest sufficient sums to enable it survive.
3. Will the Company have sufficient working capital to cover the period of examinership and the costs involved in same?
   

Process

The process usually involves an initial application where an Examiner is appointed on an interim basis. The Examiner then comes before the Court at a later stage with a proposed scheme of arrangement. This scheme of arrangement will usually involve the creditors accepting a percentage of the debt due to them. It is a matter then for the Court to decide where a scheme is realistic and one which should be approved.

We will provide complete cost effective commercial representative all aspects of your interests in an Examinership. 

Dispute Resolution

A commercial dispute with a customer or a supplier can if not resolved lead to a financial loss and in a lot of cases unnecessary legal costs. In addition to legal costs there are also the substantial costs to your business of preparing for and attending court. Furthermore, this process can take years to wind its way through the courts with no guarantee of any resolution. In addition, when legal action is initiated, both sides tend to “dig in”.

In some circumstances the only way forward is through the courts however, in most circumstances a process of dispute resolution should be considered.

If you are facing the problem of what to do with a disputed debt or a supplier dispute and are looking for an immediate solution? In the first instance you can contact us in confidence and we will take you through your options.

Your case will be treated with professional diligence and care. After an assessment is completed of the case we will set out the possible ways on how to move forward. Thereupon, we will use our unique approach to engage with the other party and work tirelessly to obtain a satisfactory outcome.

Our commercial mediation service has been resolving commercial disputes for over 20 years. Our service has been used by small, medium and large businesses all over Ireland and the United Kingdom.

To start the process of resolving your dispute at a fraction of the cost and hassle of court action get in touch here.

Legal Cases

When it comes to legal action your solicitor is the appropriate person to advise you on your legal options.

However what about your commercial options?

Is/Are there some commercial item(s) that you have missed or have not seen the importance or relevance of?

Are there other opportunities to make a stronger case?

Has there been an examination of all of the communications sent to and received from the other party prior to the legal action?

Have you researched the status of the other party?

There are other angles and avenues to check. We have successfully provided this service over many years to our clients. This service provides objective practical commercial support when your business is faced with taking or defending legal action.

Contact us for a no obligation confidential discussion.