Insolvency Disputes

Insolvency Disputes, Corporate Restructuring & Asset Recovery

Insolvency occurs when a company is unable to cover their debts due to lack of funds and is placed in receivership, liquidation or examinership. Sherwin O’Riordan LLP act for and advise receivers, liquidators and examiners, as well as insolvent companies, their creditors and their directors or shareholders. Services we provide include:

• Petitioning the High Court on behalf of creditors to place insolvent companies in liquidation or examinership.
• Placing companies in voluntary liquidation and holding the required creditors meeting.
• Acting for liquidators in litigation on behalf of insolvent companies.
• Acting for examiners before the High Court during the course of examinership.
• Representing the interests of creditors of companies in examinership before the High Court & Circuit Court.

This is a high area of law and can, sometimes give rise to additional disputes relating to improper conduct of company directors and contentious insolvency.  Such situations may include:

• Fraudulent trading – occurs when a company carries on operating with the intent of purposefully deceiving and defrauding its creditors
• Misfeasance – when a director carries out a wrongful act in the handling of company money while insolvent, including a breach of duty of trust
• Preferential payments – transactions may be deemed ‘preferential’ if made soon before a company is made redundant (when it cannot pay its debts)
• Transactions below value – selling assets below value
• Unlawful dividends – payment of dividends to directors when there is insufficient profit to do so.
• Wrongful trading – continuing to trade when technically insolvent

As a full-service law firm, Sherwin O’Riordan LLP can formulate and execute effective legal strategies for the full array of insolvency issues.