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February 8, 2021 10:55 am
The government has launched a public consultation seeking views on a proposed restructuring framework for the rescue of small and micro-enterprises, mirroring key elements of examinership.
As part of the government’s medium-term “stabilisation response” to the economic challenges of the pandemic, the proposal – a ‘Summary Rescue Process’, to inform the development of the general scheme of the bill – is made for a stand-alone process outside existing frameworks for the rescue of small companies.
In this regard, Tánaiste Leo Varadkar wrote to the Company Law Review Group (CLRG) requesting it to examine the issue of rescue for small companies and make recommendations as to how such a process might be designed.