Examinership is a preventive restructuring process unique to Cyprus and Ireland, that can facilitate company turnaround and rescue. Although in Ireland, examinership has been implemented successfully for the restructuring of hundreds of companies, resulting in the preservation of thousands of jobs; in Cyprus, it has just been established in more recent years and it remains an underutilized restructuring mechanism.
Baker Tilly Corporate Recovery Cyprus (BTCR) today announced the launch of a completely new interactive website (examinership.com.cy) that serves as a comprehensive resource to increase awareness of Examinership among Cyprus’ businesses, so as to enable them to restructure and recover.
The new website offers audiences easy navigation, a clean interface and the ability to access jargon-free information, the firm’s services, latest news and case studies of businesses that have successfully navigated the process.
Managing Partner of BTCR Neil Hughes said “we are very mindful of the need for practical solutions for businesses that have been drastically affected by the coronavirus epidemic. That is why we are delighted to be able to offer this free resource for fundamentally viable enterprises that may be struggling now due to the crisis”.
“Examinership has been responsible for the saving of over 15,000 jobs in Ireland in the past 10 years. We hope that the launch of this website now will drive awareness of the process among the business community in Cyprus, at a time when it is clearly so badly needed”.
The BTCR team in Nicosia provides restructuring services to help businesses cope with and overcome the financial and business issues they may be facing, evaluating and advising on the extent of the problem and determine what is needed for recovery.
As members of the leading Baker Tilly International network, Baker Tilly in Cyprus offers access to a team of 34,713 professionals in more than 145 countries worldwide as part of a top ten global network.