High Court protection awards up 50% on 2011 figures.
Our latest figures for the first half of 2012 show that 18 Irish companies have had an Examiner appointed to them, an average of three appointments a month.
This represents a 50% increase on the figures we saw during the same period in 2011 where examiners were appointed to 12 Irish companies.
Each of these companies submitted a petition to the High Court seeking protection from their creditors while they attempted to resolve their cash flow difficulties.
If the court is satisfied that the company has a reasonable prospect of surviving they will approve the appointment of an examiner to the company.
The examiner will then inspect the company's finances and attempt to draw up a Scheme of Arrangement that will be agreeable to the creditors of the company - this will usually involve the creditors accepting a percentage of debt owed.
Of the 18 companies that were placed under the court's protection this year, 12 are continuing to operate while the other six have since had a liquidator appointed in order to proceed with winding-up arrangements (a survival rate of 67% for companies with an examiner appointed).
The companies that have had an examiner appointed to them in the first half of this year are:
- Advanced Balloon Technologies Ltd
- Atlantic Home Care Ltd
- Bht Group Ltd
- Bht 3 Ltd
- Brinkhall (Ashford) Ltd
- Brinkhall (Athy) Ltd
- Brinkhall (Newbridge) Ltd
- Digital Publishing Innovations Ltd
- Eircom Ltd
- Irish Telecommunications Investments Ltd
- Kilmallock Transport Ltd
- Lynch Freight (Kilmallock) Ltd
- Meteor Mobile Communications Ltd
- Neylons Maintenance Services Ltd
- Ph Prime Pharmacy Ltd
- Ph Prime Property Ltd
- Prime Healthcare Ltd
- W. B. Peat & Company Ltd
The number of companies that have collapsed this year. This figure is down 7% compared to last year
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PREDICTIVE CREDIT REPORTS
Our Credit Reports are predicting over 80% of insolvencies at up to 6 months in advance.
- 37 Companies
E8 (Notice Of Appointment Of Receiver)
- 6 Companies
- 0 Companies
The number of companies that have closed this week.
- 224 Companies
- 443 Businesses
- 770 Companies
HIGH COURT NOTICES
- 1 Companies
- 236 Companies
- 194 Companies