Steps that directors of companies in financial difficulty should be taking now in order to avail of the Government's new corporate rescue procedure.

Jim Stafford

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The Government has recognised that Examinership is too costly for SMEs, and are therefore in the process of drafting new legislation to rescue companies. The new legislation will be called the Summary Rescue Procedure. I set out below a link to our website which summarises the proposed new legislation and sets out steps that directors should be considering if they wish to avail of the new legislation.

It is not expected that the new legislation will extinguish any personal guarantees.



Jim Stafford
 
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