RDJ Glynn, today, held a breakfast seminar on insolvency issues arising in the current climate. Three specialist lawyers, Nicholas Comyn, Emma Crowley and Imelda Tierney from the RDJ Glynn Insolvency and Restructing team spoke on areas such as informal arrangements with creditors as compared to court driven schemes, practical issues arising in a receivership and the role of directors.
Emma Crowley, Consultant, RDJ Glynn said, “With the current economic climate businesses need to plan ahead. There is a need to address any financial difficulties as soon as possible. When advising companies we look at the type of company, its creditor profile and the time available. One of the principal factors in the declining success rate of examinerships is the absence of new funding. When clients are considering their options there needs to be a realistic assessment of new investment being forthcoming.”
