As Irish society slowly re-engages with its economy in the coming weeks and months, the financial cost of the pandemic disruption will become all too apparent. We recommend that businesses do not wait for current supports to wind down or expire before assessing their options and finding ways to continue trading without incurring further personal financial exposure. Exploring the prospects of making a successful claim under business interruption insurance policies has been a starting point for many; seeking informal arrangements with landlords is another. The employment relationship is also undergoing changes that may take permanent shape.
At OCWM Law, we are ready to work with our clients and their financial advisors to assess all restructuring options from voluntary arrangements with key creditors such as landlords, suppliers and lenders to formal examinership solutions. For further guidance please email Michael Walshe at [email protected].