Examinership
Court protection and restructuring for companies with a future
Examinership is a court-supervised rescue process designed to help viable Irish companies restructure and survive. Introduced under the Companies (Amendment) Act 1990, Examinership allows a business facing insolvency to obtain protection from creditor action while an examiner works to develop a rescue plan.
At Friel Stafford, we have acted as both Examiner and Independent Expert in complex Examinership cases. Our focus is on giving viable companies a realistic path to recovery — preserving jobs, protecting enterprise value, and avoiding liquidation wherever possible.
Is your company suitable for Examinership?
To be eligible, a company must demonstrate a reasonable prospect of survival. The process is most effective where:
- The business is viable or can be made viable
- Financial distress is temporary or manageable
- A restructuring plan can be developed with the support of key stakeholders
SMEs that meet specific criteria may now also apply directly to the Circuit Court, reducing cost and complexity.
Who can initiate Examinership?
A petition can be presented by:
- The company
- The directors
- A creditor (including employees)
- Shareholders holding at least 10% of voting rights
Once filed, the company is immediately under court protection, preventing enforcement by creditors while the rescue plan is prepared.
The Examinership process
1. Petition to court
A petition is filed nominating an examiner, supported by an Independent Expert’s Report.
2. Court protection
The company is placed under the protection of the court (typically for up to 100 days).
3. Assessment and proposals
The examiner evaluates the business, engages with stakeholders, and drafts a Scheme of Arrangement to restructure the company’s liabilities.
4. Creditor meetings and approval
The plan must be approved by at least one class of creditors and sanctioned by the court.
5. Implementation
If confirmed, the scheme becomes binding on all creditors and the company emerges from Examinership.
If the process is unsuccessful, the company may enter liquidation, and secured lenders may appoint a receiver.
The Independent Expert’s Report
This critical report must include:
- A statement of the company’s financial position
- Details of assets, liabilities, creditors and security
- An opinion on whether the company has a reasonable prospect of survival
- Proposed steps to ensure survival
- The estimated cost and required funding for the rescue period
Friel Stafford regularly acts as Independent Expert, offering a fast, thorough assessment grounded in experience.
SME-friendly Examinership
Under the Companies (Miscellaneous Provisions) Act 2013, smaller companies can access Examinership through the Circuit Court, making the process more affordable and accessible. To qualify, two of the following must apply:
- Turnover under €8.8 million
- Balance sheet under €4.4 million
- Fewer than 50 employees
This streamlined version significantly reduces the procedural and legal burden while maintaining court protection and restructuring powers.
What if Examinership fails?
If a workable scheme cannot be achieved, the company will typically move into liquidation, and secured creditors may appoint a receiver. Early advice and a credible plan are crucial to avoid this outcome.
Friel Stafford
How Friel Stafford can help
Expert Guidance from Start to Finish
- Assess whether Examinership is the right solution
- Act as Independent Expert and prepare the required report
- Act as Examiner, guiding the process and negotiating with stakeholders
- Advise directors and creditors throughout the process
With decades of experience and a reputation for practical, decisive action, we are trusted by courts, creditors and clients alike.
Need breathing space to restructure your company?
We can assess your eligibility and guide you through every step of the Examinership process.
Arrange a confidential call with our restructuring team today.
CONTACT US TODAY
+353 1 661 4066