In: Moratorium
What benefits are there to my Company if it obtains a Moratorium?
July 3, 2020The Company will benefit in a number of ways. The Company will receive a payment holiday from certain pre-moratorium debts which…
Read MoreWhat happens if the Monitor decides that the Moratorium is no longer viable?
July 3, 2020The Monitor is obliged to end the moratorium in certain circumstances. For example, if the Company fails to pay certain debts…
Read MoreHow long does the Moratorium last?
July 3, 2020The moratorium automatically ends 20 business days from the day after the moratorium comes into force. This can however be extended…
Read MoreHow can my Company be saved using the Moratorium process?
July 3, 2020There are a number of routes available such as a CVA, restructuring or a refinance. There is no requirement to specify…
Read MoreHow do I appoint a Monitor over my Company?
July 3, 2020The Moratorium commences when certain documents are filed at court by the Company and the Monitor. The Monitor will also be…
Read MoreIs my Company eligible?
July 3, 2020Yes, unless specifically excluded. For instance, banks and other regulated entities can’t appoint a Monitor. In addition, if your Company is…
Read MoreWhat is a Moratorium?
July 3, 2020A moratorium allows directors to continue to run a Company under the supervision of a Licensed Insolvency Practitioner, the ‘Monitor’, subject…
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