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ARTICLE · 15 FEBRUARY 2012

Examinership - Spring 2012

Examinership is a court enforced moratorium on creditor action which allows a brief period during which a company can be restructured.

IrelandCorporate/Commercial Law

Examinership is a court enforced moratorium on creditor action which allows a brief period during which a company can be restructured. It is similar in many ways to the Chapter 11 procedure in the United States. In addition to the automatic stay on creditors' rights, the process involves the appointment of an individual (invariably an accountant) to act as examiner. The examiner is charged with formulating proposals for a compromise or scheme of arrangement between the company and its members and/or creditors ("Proposals"). The examiner has no executive role and the company's directors and management will remain in control of the company and of its day-to-day operations throughout the protection period.

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