Issue 134 (Week ending 10/07/2012)

Our latest figures for the first half of 2012 show that 18 Irish companies have had an Examiner appointed to them, an average of three appointments a month.

This represents a 50% increase on the figures we saw during the same period in 2011 where examiners were appointed to 12 Irish companies.

Each of these companies submitted a petition to the High Court seeking protection from their creditors while they attempted to resolve their cash flow difficulties.

If the court is satisfied that the company has a reasonable prospect of surviving they will approve the appointment of an examiner to the company.

The examiner will then inspect the company's finances and attempt to draw up a Scheme of Arrangement that will be agreeable to the creditors of the company - this will usually involve the creditors accepting a percentage of debt owed.

Of the 18 companies that were placed under the court's protection this year, 12 are continuing to operate while the other six have since had a liquidator appointed in order to proceed with winding-up arrangements (a survival rate of 67% for companies with an examiner appointed).

The companies that have had an examiner appointed to them in the first half of this year are:

- Advanced Balloon Technologies Ltd

- Atlantic Home Care Ltd

- Bht Group Ltd

- Bht 3 Ltd

- Brinkhall (Ashford) Ltd

- Brinkhall (Athy) Ltd

- Brinkhall (Newbridge) Ltd

- Digital Publishing Innovations Ltd

- Eircom Ltd

- Irish Telecommunications Investments Ltd

- Kilmallock Transport Ltd

- Lynch Freight (Kilmallock) Ltd

- Meteor Mobile Communications Ltd

- Neylons Maintenance Services Ltd

- Ph Prime Pharmacy Ltd

- Ph Prime Property Ltd

- Prime Healthcare Ltd

- W. B. Peat & Company Ltd