Between the 18th and 22nd of July 2011, 19 Irish Companies will hold a Meeting of Creditors in order to agree Winding-Up arrangements - these companies owe their Creditors just over EUR49m (based on their latest set of filed accounts).
Having viewed the latest insolvency notices, we've found that this week will see an average of almost 4 companies
a day holding a Meeting of Creditors. That's 16% of the 118 MOCs already scheduled to take place in July.
Between them, these companies owe their Trade Creditors over €22m with the remainder being Long Term liabilities.
However, the majority of the €49m debt comes from just one Company. This company owes €9.2m to its Trade Creditors and a further €15.9m in long term debts.
When these meetings take place, the company in question will have the opportunity to nominate a liquidator to handle the Winding-Up arrangements.
If the Creditors agree to this nomination, the Liquidator can begin the process of Liquidating the company and putting together a scheme of arrangement to reimburse the Company's Creditors.
The number of companies that have collapsed this year. This figure is down 12% compared to last year
Click here to view the list
PREDICTIVE CREDIT REPORTS
Our Credit Reports are predicting over 80% of insolvencies at up to 6 months in advance.
- 56 Companies
E8 (Notice Of Appointment Of Receiver)
- 9 Companies
- 0 Company
The number of companies that have closed this week.
- 254 Companies
- 670 Businesses
- 1048 Companies
HIGH COURT NOTICES
- 0 Company
- 276 Companies
- 345 Companies