Liquidations - Our Approach

At SEOIGE O'FAOLAIN & Co, we fully understand that business owners and company directors are under pressure as never before. The economic difficulties facing businesses and individuals in Ireland are catastrophic. The decline in construction and property markets, allied to the banking crisis and global recessionary trends have created a sharp decline in economic activity, business transactions and confidence levels and have prompted a considerable deterioration in all spending patterns. As a result, many businesses and individuals are facing what are insurmountable financial problems.

Added to these ever increasing financial pressures are adverse currency movements, and massive credit constraints. Any or all of these can plunge a company into serious financial distress. Whether these factors occur in isolation or converge, they typically trigger a host of problems, including underperformance, declining sales, and liquidity and cash-flow blockages, inevitably resulting in insolvency, and the demise of the business, often with serious financial consequences for owners.

Significant decline in activity is particularly evident in certain sectors – construction, recruitment, retail etc. With high business and personal debt levels, the prospect of personal guarantees being called is causing extraordinary stress for overwhelmed business owners.The people at SEOIGE O'FAOLAIN & Co have a real world understanding of the position you are in. Each of us knows friends, neighbours, and family in the very same situation as you. We approach your difficulties with the same levels of compassion and reason that we would bring to dealing with friends or family in a similar predicament. This is not the time for blame or rash judgments. The first steps are to accept the situation, be reasonable, and to take action to prevent matters getting any worse.

Whether it be acting as liquidators, or simply offering advice, we can help. With a breadth and depth of experience, with a particular focus on small-medium sized and owner-managed business sectors, our insolvency and liquidation specialists focus on the issues faced by clients in a troubled business. Acceptance of insolvency is critical to establishing the remedial actions to avoid the worst repercussions of business failure.

We have expertise in handling with care very delicate issues surrounding company law and taxation. We approach such matters with great sympathy and sensitivity. We understand that you may require guidance and encouragement to help you through these difficult times. We offer you a high level of Partner contact to guide you through the complex and stressful processes of insolvency. Our team has first class relationships with the legal and banking sector to ensure appropriate recognized solutions can be delivered.

We are here to help you.