Debt & Insolvency
Insolvency and debt collection as the name suggests is the pursuit of debtors (those who owe you money) it is a fast growing area. Our team will guide you through the process from warning letters through to advice on the suitability of issuing legal proceedings, the pursuit of creditors through the courts process, explaining that process to you and assisting you after judgment has been obtained by way of installment orders/registration of judgment mortgages where possible. We will set out the payment structure and the likely costs for the different stages, we will ask our clients to consider carefully before they decide to issue proceedings, whether there is a realistic prospect of recovering money. We will not encourage our clients to issue legal proceeding on the collection of debts where there is no prospect of success unless there is some other economic reason for which the client requires the creditor to be pursued. In this regard the firm also acts as agent for several established firms in Ireland by acting as legal agents for non Limerick firms.
We will pursue creditors from the District Court through to Circuit and High Court.
Insolvency involves advising companies and their directors in situations where there is an impending threat of receivership/liquidation arising from the inability of a company to pay its debts as they fall due. This is an area which requires considerable legal expertise in consultation with financial advisors. We assist and advise directors with regard to the resolution of financial affairs prior to any administration, debt collection or liquidation and to the responsibilities of directors in this field. We also assist liquidators with regard to legal matters arising from liquidation/receiverships and the pursuance of creditors therein. This firm has acted for a number of established accountancy firms in the Limerick area with regard to assisting in liquidations and proposed liquidations.