I will be presenting a talk next Wednesday morning, 24th May, at Chartered Accountants House, Dublin 2 on Corporate Recovery Strategies. Given that most receivership appointments are currently being made by the vulture funds, I will have a module on how to reach settlements with the vulture funds. I will also address briefly how the new personal insolvency legislation…
Vulture funds do not generally receive good press. However, when it comes to doing deals, we prefer to deal with vulture funds as they have no moral hang ups about debt forgiveness, they act commercially and they give fast decisions. I set out below an example of a deal that we recently agreed with a vulture…
Some of the country’s best credit managers were left reeling last week following the sudden liquidation of Precision Electric (Ireland) Limited (“the Company”). The last audited accounts filed for the company for the year ended 31 July 2015 showed net assets of €3.3 million. Given that the Company had traded successfully for some 48 years…
Brexit is going to happen. There will be winners and losers. Even though your business might be the “best in its class” with the best management team, best technology etc, it may simply be on the wrong side of the equation when Brexit happens, and no amount of re-structuring or business planning is going to change…
The Courts Act 1981 (Interest on Judgment Debts) Order 2016 (SI No 624 of 2016) came into operation on 1 January 2017. The effect of the Order is to reduce the rate of interest payable on judgment debts from 8% to 2%. The 8% rate had applied since January 1989. In many cases the rate…
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