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A Government Minister has suggested it will be possible for taxes owed by struggling small businesses to be written down in new “examinership-lite” proposals that could be enacted before the summer.
Robert Troy, Minister of State at the Department of Enterprise, says he will bring proposals to Cabinet next week for a so-called “summary rescue” process for SMEs. This would allow insolvent SMEs to restructure debts using a fast-track administrative process, without the huge expense of going to court, which makes the current examinership system too costly for many SMEs.
Revenue is a priority creditor under insolvency law and gets paid ahead of most other creditors when a business goes bust, although in practice judges often sanction tax write-down deals in a full court-administered examinership. ....

Barry Lyons , Neil Mcdonnell , Department Of Enterprise , Company Law Review Group , Government Minister , Company Law Review , Restart Ireland , பாரி லயன்ஸ் , நீல் மக்டொநெல் , துறை ஆஃப் நிறுவன , நிறுவனம் சட்டம் விமர்சனம் குழு , அரசு அமைச்சர் , நிறுவனம் சட்டம் விமர்சனம் ,