A procedure unique to Ireland, examinership is a rescue process designed to help businesses recover from insolvency.
The appointment of an examiner is an option that has been available to companies in Ireland since 1990.
Examinership was introduced to enable insolvent companies explore all opportunities for their survival in an inclusive process that involves the appointment of an examiner (usually a practicing accountant) to shepherd the company through a breathing-space restructuring period of up to 100 days.
"It is clear that the principal focus of the legislation is to enable in an appropriate case, an enterprise to continue in existence for the benefit of the economy as a whole and, of equal, or indeed greater, importance to enable as many as possible of the jobs which may be at stake in such enterprise to be maintained for the benefit of the community in which the relevant employment is located. It is important both for the court and, indeed, for examiners, to keep in mind that such is the focus of the legislation".
Justice Clarke, Re Traffic Group Ltd (2008)