Liquidations

The implications of, and procedures involved in, winding-up a company have become increasingly onerous with the advent of the Company Law Enforcement Act 2001 and the establishment of the Office of the Director of Corporate Enforcement. The duties and responsibilities of directors and the manner in which they conducted the affairs of the insolvent company in the two year period leading to the insolvency come in for increased levels of scrutiny.

No matter what way it is looked at Insolvency for the vast majority of directors / business managers is a highly stressful situation.

Our experienced insolvency team can provide the help you need during this period. Also as a firm with a comprehensive international presence we can, in association with colleagues in our overseas offices, undertake international and multi-jurisdictional assignments.

There are essentially two procedures which may be employed in the liquidation of an insolvent company, namely a Creditors Voluntary Liquidation and an Official or Court Liquidation. The liquidation of a solvent company is referred to as a Solvent of Members Voluntary Liquidation.

In any liquidation, the onus is on the Liquidator to maximise the return to the Creditors of the company and Mazars’ extensive experience in both the areas of asset realisation and Corporate Finance places us at a considerable advantage in the extraction of value for the benefit of the body of Creditors.

For more information email businessturnaroundinsolvency@mazars.ie

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