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Restructuring & Insolvency
Practical legal advice and assistance for Businesses
We offer pragmatic, commercial advice to directors, shareholders, investors, banks and other lenders.
When a business is in distress, getting the right kind of advice early can provide the best chance of a beneficial outcome for all stakeholders.
From reorganisation and turnaround to restructuring debt, our aim is to help improve returns to stakeholders and avoid formal insolvency where possible. We offer pragmatic, commercial advice to directors, shareholders, investors, banks and other lenders.
In addition, we provide a full service to insolvency practitioners in relation to formal corporate and personal insolvency appointments, dealing with both contentious and transactional assignments.
We are adept at navigating out-of-court restructurings, the purchase and sale of distressed businesses and assets and the structuring and implementation of debt workout arrangements for senior and subordinated lenders, borrowers and investors.
Restructuring & Insolvency
Our Strong Experience in the area
Combining an approach of compassion with our strong experience in this area we assist corporate leaders in navigating rough waters and returning to business as usual.
As founding members of Lawyers Associated Worldwide (L.A.W.), an international network of full-service law firms in more than 95 cities and commercial centres around the globe we are in a position to manage cross-border insolvency matters efficiently and cost-effectively.
We assist clients in the following areas
Restructuring & Insolvency Legal Services
- debt and equity restructuring, including debt for equity swaps
- reorganisation
- debt moratoria or standstill agreements
- covenant waivers
- improved security packages for lenders
- asset realisation including the sale of businesses and the assets of an insolvent company
- asset and debt recovery
- investigation and asset tracing
- recovery of foreign assets
- the sale of real estate/property
- the protection and realisation of intellectual property rights
- insolvent partnerships
- liquidations (both compulsory and voluntary)
- voluntary arrangements for either companies or partnerships
- receiverships including fixed charge receiverships
- rescheduling/refinancing debt
- disposal of failing business units
- dealing with pension deficits
- renegotiation of contracts and leases
- bankruptcy
- family home
- income payments orders
- previous transactions
- annulment of bankruptcy
- individual voluntary arrangements (IVAs)
What Can Be Done To Avoid Insolvency Litigation?
A pro-active legal team with a strong technical background will ensure where possible that a restructuring or out-of-court arrangement is set up to agree an alternative repayment schedule that will satisfy creditors. For example, a ‘scheme of arrangement’ may be an appropriate mechanism of which to avail. A scheme of arrangement would entail an agreement between a company and its creditors to reduce debts and can be viewed as more affordable than other restructuring tools. A court application is required as part of putting a scheme of arrangement in place.
Whether your business is cash-flow insolvent or balance-sheet insolvent, our lawyers will also make sure that any company directors fulfil the specific duties the law requires so they do not have to face damaging personal claims against them or censure or restriction as an officer of a company.
You will find that our solicitors have the all-important combination of commercial awareness and excellent communication skills needed to deal with people in highly pressured insolvency situations. We also have extensive experience of negotiating and liaising with other insolvency professionals.
Company Directors – Tips And Traps Regarding Liquidation | FAQs
- We are Company Directors – what should we do if liquidation of our company or the appointment of a Receiver is inevitable?
- Get legal advice from an experienced insolvency solicitor as soon as the spectre of insolvency appears.
- Why?
- There are important commercial and legal issues to be considered as well as strict company law requirements which must be followed by the Directors.
- What happens if the Directors do not comply with the statutory requirements?
- This could lead to personal liability on the part of the Director for all or part of the company’s debts. This could have the consequence of the Directors having to sell personal assets so as to deal with any such liability. Proper legal advice could help in avoiding or mitigating such a personal liability scenario if obtained early enough.
- What happens at a Creditors’ Meeting?
- Firstly, this meeting gives the creditors an opportunity to question the Directors on their management of the company. The Companies Act 2014 contains complex and rigid statutory requirements relating to creditor meetings and the steps that the Directors MUST take leading up to such meetings.
Secondly, the Liquidator is appointed at that meeting. Once again, however, the Directors need to be aware of the statutory requirements of the Companies Act 2014 regarding their appointment.
Early comprehensive legal advice is crucial so as to avoid the many pitfalls to which legally inexperienced Directors might otherwise be exposed.
- As a Director, what else do I need to know to avoid personal liability for the company’s debts?
- A lot!
Secondly, the Liquidator is appointed at that meeting. Once again, however, the Directors need to be aware of the statutory requirements of the Companies Act 2014 regarding their appointment.
Early comprehensive legal advice is crucial so as to avoid the many pitfalls to which legally inexperienced Directors might otherwise be exposed.
Contact one of our Solicitors for a Comprehensive and Skilled Assistance
Get legal advice from an experienced insolvency solicitor. Contact us today by email at info@amoryssolicitors.com or call us on +353 (0)1 213 5940 to schedule an appointment and a member of our team will reply shortly.
Schedule an Appointment
Membership of Organisations
Amorys Solicitors LLP is a registered firm of solicitors with the Law Society of Ireland. The conduct of each solicitor within the firm is regulated by the Legal Services Regulatory Authority.
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Sharon M. Scally
Managing Partner -
Deirdre Farrell
Partner -
Brian Kirwan
Partner -
Mark Felton
Partner
Our Customer Stories
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Thanks Wendy and team for your kind guidance and support in making moving house as easy as possible. Great to see that service levels have remainder high since our first house purpose through Amorys 6 yrs ago.
Caroline RocheHappy Customer
Wendy was an absolute professional during the purchase of our first house. She was very responsive, we were never left wondering. She also gave great advise and was human throughout the process. I would highly recommend her as a solicitor.
Elaine SmithHappy Customer
Amorys Solicitors was the best choice that I could make when I start my house hunting. Very responsive and gave me all the attention that I needed on this stressful situation which is buy an house in Ireland. Thanks Wendy and team for all the good services.
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