In a previous article one of my colleagues discussed the options proposed under the recently published Personal Insolvency Legislation. This was the proposal for the Debt Relief Certificate for unsecured debt under €20,000. There are two other relevant options for both secured and unsecured debt in this proposed legislation. The […]
Debt Relief Certificate – is it for you?
The short answer to the question posed in the title is it would be very difficult for a person to get debt relief unless they can comply with extremely strict criteria that are set out in the new Personal Insolvency Bill. The reason for the strict criteria is that the […]
Creditors’ Meeting – Should I stay or should I go?
As more and more companies succumb to insolvency, many business suppliers are receiving invitations to creditors’ meetings. When an insolvent company decides to wind up voluntarily, a notice will be sent to all creditors together with a general/special proxy form to commence the liquidation process. The notice will also be […]
Are you a Director of a company going into Liquidation?
If so, you need to proceed with caution. There are many rules governing the liquidation process. Firstly, you should first speak with fellow directors and seek professional advice. Resignation may be an option but your primary responsibility is to protect the company creditors. You may remain personally liable even if […]
Money owed – Question & Answer
Question: I am owed €7,489.00 by a company that is refusing to pay me. Can I wind up the company to get my money? You can certainly try but winding up a company is not an easy task. It involves engaging the Court process to have a Liquidator appointed to […]
We live in a time where there is a lot of concern about debt be it personal debt or business related debt. There is no doubt that creditors are increasingly seeking to have their day in Court to obtain Judgment against their debtors. Debts can vary from a sum as […]