| dc.description.abstract | Overview
Legislation governing the process of Examinership was introduced by the Companies
(Amendment) Act, 1990.The current economic climate has left many companies
facing extreme difficulties meeting financial obligations and has led to the doubling of
the number of companies applying for Examinership. Grant
Examinership assists the survival of a company by making arrangements to reduce
creditor balances and protecting the intangible assets of the company. It explores all
opportunities to provide for a company’s survival, while control is retained by the
Directors. Brain Foley has described Examinership “as the process by which a
company is placed under the protection of the court for a period of time, during which
claims and debts against it are for the most part, frozen”.
Purpose
Previous research presented the topic of successful Examinerships solely on a
quantitative basis, the current research aims to view Examinership in entirety and
provide qualitative explanations on the process with particular focus on the
appointment, role and success of Examinerships in Ireland. This will close the gap in
the literature which exists at present.
Findings
There are no definite steps to success as each company in difficulty is different in
many ways and therefore should be addressed in a manner suitable to their needs
The success of the process should not be viewed on overall statistics alone but on the
merits of each case which has survived to confirm the success of the process in
Ireland.
Importance
The process of Examinership is a very powerful restructuring tool, the outcome of the
process offered is undoubtedly better than the outcome offered by Liquidation or
Receivership. If the results of this research are used in an educational manner then
there will be more awareness of this corporate rescue plan. | en |
