Appointment of Official Liquidator: Braldi Limited

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Braldi Ltd  T/A Bonnar Luby Construction, a long established  Cashel based   construction company was placed in Liquidation by Order of the High Court on 12th March, 2012.  John O Connell was appointed Official Liquidator.

‘Phoenix’ Companies under the eyes of the Revenue

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Are you been monitored

Corporate Restructuring and Insolvency in Ireland

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An excellent article by Irelands leading Insolvency Practitioners where they shares there thoughts on the key insolvency events of 2011 and the emerging trends for 2012. They note the lack of liquidity, the developing trends in receiverships and debt restructuring, the emergence of auction houses and the oncoming changes in personal insolvency legislation.

Working out of debt

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It only just begun, its not just Ireland but an issue facing most developed countries. Private sector deleverage preceeds government deleverage and it takes about 5 years before positive results begin to become apparent. The catalist for economic recovery is generally a currency devaluation and while the collapse of the Euro is a possibility, significant quantitative easing (printing money)  looks the more probable option. This effectively means your Euro will be worth less. Bust banks in bust economies aren’t helping. Until there is decisive EU leadership,the path to recovery will be slow and painful but  as any seasoned businessman well knows, no pain no gain.

Over 16% increase in company failures over the last two years

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Challenging year for Irish businesses.

1,638 Corporate insolvencies in 2011, a 7% increase on 2010. 

21% in Munster.

Court Liquidations decrease

Creditors  Voluntary Liquidations increase

Receiverships increase

Examinerships level

This worrying trend demonstrates a lack of  business confidence and liquidity in the Irish Economy as we enter 2012. Expert advise is needed at the earliest stages of liquidity crisis to avoid losing control of your business and becoming an enforced statistic. Contact us at 022-21132 for confidential assistance.

John O'Connell & Co., Chartered Accountants, Corporate Recovery & Insolvency Practitioners, Independent Financial Centre
33 Bank Place, Mallow, Co. Cork, Ireland :: Phone +353 (0)22-21132