Small businesses in the private sector that wish to restructure their debts will be able to apply directly to the Circuit Court in the future to have an examiner appointed. It will make it less costly than the current route through the Commercial Court – a trip that could cost a few hundred thousand euro.
The changes were announced by the Minister for Enterprise and Jobs, Richard Bruton today. They will be facilitated through an amendment to the Companies Act. Recently, the Minister announced that the Government had approved the drafting of legislation to dissolve the City and County Enterprise Boards and replace them with an enhanced micro enterprise support model.
