Legislation aims to cut cost of examinership

New legislation to be introduced by the Government is expected to cut the cost of examinership for small businesses by 30% by allowing them to take cases through the Circuit Court.

Under current legislation only 1% of SME are using the courts to enter into examinership to try and trade out of their difficulties due to the high costs that they face.

In the first nine months of this year there were only 12 SME examinerships in Ireland. These 12 resulted in 753 SME jobs being saved.