Due to the economically trying times we find ourselves in businesses, however commercially aware and diligent they may be, can find themselves unable to meet their creditors demands for repayment. There are various options which creditors can take to recover their debt from you. Often the most desirable way is to reach a commercially amicable agreement to discharge the debt.
However, creditors can be aggressive in recovering debt by initiating insolvency proceedings against your business which can ultimately result in the company being wound up which can be devastating.
If your business is struggling to pay its debts, has been threatened with Court proceedings or served a statutory demand, the best way to resolve the dispute is to seek legal advice at the earliest opportunity. Only then will you know what commercial options are open to you.
At McHale Muldoon we have experience of acting for both creditors and debtors in debt dispute and insolvency proceedings. We are therefore extremely well placed to advise clients as to the likely outcome of any action and therefore the most appropriate steps they should take.
If your business cannot reach an agreement with its creditors, have been served with a statutory demand or threatened with Court proceedings, please contact our Dublin office today on 01 659 9405 or email us at firstname.lastname@example.org.