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Corporate Recovery

Corporate Recovery

The corporate restructuring and insolvency division of GBW is a market leader in the provision of corporate restructuring and insolvency services throughout Ireland and internationally.

At GBW we adopt a commercial approach resulting in a collaborative resolution with all involved, including shareholders, directors, the tax authorities, banks and suppliers.

We have experience in receiverships, liquidation and examinership.

Crunch Decision Time

If a business is in trouble, we work actively to assist you in resolving the problem. When directors decide to tackle financial difficulties early, experience shows that an early approach gives a much greater chance of recovery. Our experts and consultants can give financial advice on restructuring, refinancing, borrowing and debt management.

And if it does come to the worst and a business needs to wind up, we can help the owners through the process to make it as painless as possible.

Restructuring

Experience shows that businesses in significant financial difficulties can sometimes survive when early action is taken to tackle the core underlying reasons.

When a company decides to approach GBW in time, we can give an early diagnosis and work with the directors to attempt a recovery of part or all of the business.

Our experienced corporate recovery and insolvency team has succeeded in guiding many businesses through the restructuring process.

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 GBW we have experience of examinerships and administrations. Our focus is on managing the process professionally, efficiently and effectively, while resolving statutory and compliance matters.

Examierships

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.

GBW’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.

Receiverships

At GBW we believe that relationships are an extremely important element in achieving a successful outcome to a receivership. We respond to our clients’ organisational style and we understand the commercial challenges that they face.

Our clients are principally financial institutions and debenture holders, and we have conceived innovative solutions to complex problems.

GBW has the skills and knowledge to tackle complex receivership projects, having managed significant receiverships in recent years. Our corporate restructuring and insolvency team has considerable expertise across a variety of sectors, including:

  • Property
  • Construction
  • Technology
  • Manufacturing
  • Distribution
  • Services
  • Tax-based developments
  • Liquidations

The liquidation of a business can cause stress and disruption to all concerned. At GBW our focus is on managing the process to get the best possible outcome given the precarious state of the business and its financial position.

The considerable experience of our corporate restructuring and insolvency team allows us to quickly untangle the complexities of each particular case, while advising relevant parties on their legal obligations.

Sample Assignments

The following are examples of recent liquidations by GBW:

Members’ Voluntary Liquidations

The main difference between a Members’ Voluntary Liquidation (MVL) Creditors’ Voluntary Liquidations and High Court Liquidations is that in an MVL the company is solvent. When all liabilities have been paid, the remaining surplus is then paid to the owners.

MVLs are often used where companies are no longer needed for trading purposes. Owners may also want to liquidate the company in order to move property from the company to personal ownership.

In MVLs, it is essential for the directors and shareholders to consider the full taxation implications of liquidation. Our extensive experience in this area ensures that clients benefit from the most tax-efficient way of winding up a company.

Our services also include:

  • Advising and assisting on all relevant company law issues
  • Extraction of a company from within a group, ensuring that the extraction is done in a manner consistent with the core objectives of the business and its shareholders
  • Business Reviews

Shareholders, banks and other stakeholders frequently need assurance about the financial status, governance and operations of a company or organisation facing financial difficulties.

GBW conducts financial status reviews and forensic accounting in a range of different types of projects. Examples include companies that are:

  • In financial difficulties
  • Undergoing restructuring as a group or business
  • Involved in disputed contracts
Scope of Reviews

The nature of these reviews can vary considerably but are likely to include:

  • Assessments of financial management and internal controls
  • Operational reviews
  • Business plan analysis
  • Reviews of restructuring plans
Contact

If you need help on any of the above, please call us today on 01-6394886 or e-mail Jim Butler at jbutler@gbw.ie or to arrange a free initial consultation.

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