In this article we hear from Matheson
LLP partners Julie Murphy-O'Connor,
Brendan Colgan, Angela Brennan and Kevin Gahan. Drawing upon their
years of successful practice, our four guest authors provide an
insightful overview of turnaround and restructuring in Ireland and
share examples of their most recent work in this area of
law.
What are the differences between turnaround and restructuring,
and what does the process for each typically look like in
Ireland?
Both turnaround and restructuring are aimed at saving a business
and avoiding liquidation.
Turnaround involves an organisation developing and implementing
a problem-solving strategy, typically with the aid of a turnaround
financial consultant, in the hope of it staving off a formal
insolvency process. How sophisticated and intrusive the turnaround
is will depend on the complexity of the issues, the size of the
business and how much help the directors require. An engagement
might last a few months or two
