Irish Court make key ruling in Examinership case
An examinership is an effective tool to restructure your business
The case has wide ramifications for future Irish examinerships as it provides struggling companies with the reassurance and certainty they need that their commercially sensitive information can be properly protected during the process. This, in turn, will encourage Irish companies to use what is a very effective tool to restructure their businesses.
The examinership enabled the examiner and Ladbrokes Ireland to successfully restructure its business by:
- Achieving big reductions in its annual rent costs on a large number of its shop leases
- Disclaiming and surrendering leases in a number of its unprofitable shops
- Achieving significant annual cost savings