Wicklow Town & District Chamber, in association with Augustus Cullen Law and PricewaterhouseCoopers presented an evening seminar on 13 May. The evening covered legal and business issues which companies and businesses should be aware of as they protect their business in the current economic climate.

In addition to having an opportunity to receive briefings from specialists who practice in this area, there was an opportunity to question the speakers in a highly interactive environment.

Speakers

Siona Mooney, Partner in Augustus Cullen Law spoke about the need to address key legal issues in today’s challenging business environment. Specifically, Siona spoke about the Duties of Directors. Siona also mentioned the need to review your Contract conditions particularly as these are the subject of increased scrutiny with more commercial disputes arising in the current climate. She mentioned that there may be scope for your company to create a debenture if shareholders are owed money by their company, and this would mean that the shareholders may no longer be treated as unsecured creditors. Finally, Siona mentioned the importance of having an effective Retention of Title clause in your trading Contracts.

Ian Lavelle, Associate Solicitor in Augustus Cullen Law discussed voluntary and involuntary liquidations and their meaning for your business.
Ian also looked at the practical realities of extracting payment from debtors and discussed options such as contacting the local sheriff or registering a judgment mortgage against any property owned by the debtor. He also identified the benefits of placing a company into a period of court protection or examinerhsip where that company is able to demonstrate a reasonable prospect of survival.

Ronan Furlong, Tax Partner with PwC, identified a number of tax planning opportunities for businesses in the current difficult economic environment. In particular, he mentioned that, with asset prices falling, there may be scope to address succession planning which previously may have proved too expensive from a tax perspective. He also identified a number of ways of improving cash flows for businesses through tax planning, such as switching to a cash based VAT reporting system.

Billy Sweetman partner from PwC stressed the importance for businesses in the current downturn to perform root and branch reviews of all business costs and practices. With many businesses focused purely on growth during the Celtic Tiger years, often inefficient and wasteful practices developed which could be altered with little negative consequences for the underlying business and resulting in significant cost savings. He also urged businesses to take time to reappraise their short to medium term strategies and devise contingency plans. In particular, cash flows need to be carefully monitored and debtors actively pursued.

Download the event’s brochure here

Wicklow People Coverage

The event was covered by the Wicklow People. A pdf of the article is available for download.

14 May 2009

    Gillian and all at Augustus Cullen Law, A million thanks for a great job done. Justice for our son at last!!

    Catherine, Liam & William

    Dear Michael, A great result was achieved because of your efforts and we were truly blessed to have you on our side.

    Kathleen, Medical Negligence Client

    Dear Joice…you are and have been very professional, sympathetic and dignified in all of your dealings with us and I put that down to one simple fact. You listened.

    James, Medical Negligence Client

    Geraldine, Thank you most sincerely for all your hard work and commitment to these children.

    Freda McKittrick, Head of Barnardos Beacon Guardian Ad Litem service

    Neil is an absolute gentleman to deal with – kind, tactful and very efficient. We could not praise him highly enough. He brought us through a horrible time.

    Sean, Medical Negligence Client

    Many thanks again for a job well done. We really appreciate all your hard work and practical advice.

    Corporate client in a commercial litigation matter

    Dear Jamie, You and your team in ACL were so professional, diligent and prompt. I have recommended you and the firm, and will continue to do so

    Lorraine McCarthy

    Gus Cullen and the firm’s approach to addressing the key issues was professional, yet personal, efficient yet attentive.

    BB

    The process is a difficult one and when you deal with people who are so professional and yet genuine/real people, it makes it so much easier... so thanks a million.

    Julie

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