Examinerships and Administrations
When a business goes into examinership or administration, it can cause significant challenges, disruption and stress for all concerned - creditors, staff, directors, shareholders, financial institutions and state agencies.
At FGS we are skilled and experienced in examinerships and administrations. Our focus is on managing the process professionally, efficiently and effectively, while resolving statutory and compliance matters.
FGS has facilitated the restructuring of many businesses through examinership (Republic of Ireland) and administration (Northern Ireland and other parts of UK). Our experience, knowledge and project management skills are particularly relevant to all the parties involved, as the court process can be complex and time-consuming,
Examinerships
The examinership process can be very effective in certain circumstances in providing a chance for a company to survive. The process involves seeking High Court protection from creditors for a limited period, while an independent court-appointed examiner considers the options for a survival package.
The examiner’s approach is ratified by the court, so it is more likely to be successful than making voluntary arrangements with creditors. By contrast, voluntary arrangements often break down because some parties will not agree to write off part of their debt.
FGS’s experience in this area means that we can quickly focus on the relevant issues, and advise companies and all other relevant parties about the process and the compliance requirements.
In addition to accepting appointments as an examiner, we also provide an examinership advisory and support service. This can be of particular benefit to creditors, banks, legal advisers or anyone affected by an examinership and who wants independent advice and support on protecting their interests.
Administrations
Administrations are the equivalent of examinerships in the Republic of Ireland. We have acted as administrator in Northern Ireland and elsewhere in the UK for numerous companies across various sectors.
Acting as administrator, we strive to achieve the best possible outcome for all stakeholders, given the precarious state of the business and its financial position.
Related links
For details on related services see: