Business

Friel Stafford > Blog > Business
How to liquidate a Company: Beware of the Moving Parts.
  • Posted by: Jim Stafford
  • Category: Business, Uncategorized

The Covid Emergency has brought changes in the steps necessary to place a company into liquidation and the consideration that apply. These considerations include fresh guidance from ODCE and new legislation on virtual meetings. We have created an information page at the following link that summarises best practice. How to liquidate a Company The page…

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What type of recovery are we looking at? Can we trust the Economists?
  • Posted by: Jim Stafford
  • Category: Business, Uncategorized

It is becoming clear that Economists are struggling to interpret the views of Epidemiologists. In March of this year I attended a presentation given by the Economist Austin Hughes of KBC Bank. During the presentation he presented a chart that showed the consensus views of leading Economists on the impact of Covid on Europe’s GDP….

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The risky joys of being a NED of a subsidiary during Covid
  • Posted by: Jim Stafford
  • Category: Business, Uncategorized

Many people are delighted to take up a Non-Executive Directorship of a subsidiary for, say €20,000 a year. However, the unprecedented nature of Covid has substantially changed the ground rules for many NEDs, and is making some of them very nervous. We are providing advice for an increasing number of directors of Irish Companies who…

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Recent Court of Appeal judgment presents a further obstacle to Vulture Funds/Banks seeking judgment
  • Posted by: Jim Stafford
  • Category: Business

I would suggest that there are four key “takeways” from the Court of Appeal judgment delivered yesterday in Promontoria (Gem) DAC – V- Redmond & Others. I set out below a link to the judgment below: Promontoria (Gem) DAC – V- Redmond If you have a client that wishes to defend a claim, they should…

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ODCE has just issued useful guidance to directors on “trading insolvent”​ during COVID
  • Posted by: Jim Stafford
  • Category: Business, Uncategorized

Whilst the UK are considering passing legislation to suspend personal liability for directors whilst trading insolvent during the COVID crisis, the ODCE have set out sensible guidelines for Irish directors which, if followed properly, should protect directors from personal liability for trading whilst insolvent during COVID. I set out below the key components of ODCE’s…

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