The Institute has today launched a webpage on the Small Companies Administrative Rescue Process known as SCARP. The SCARP is designed to address the specific needs of small and micro companies in financial difficulties. It allows viable companies experiencing temporary financial problems to restructure with the agreement of creditors.
This webpage includes a series of resources to assist members including an overview of the process and timeline, main differences between SCARP and examinership, practical questions and answers and link to a recently hosted webinar and other resources that may be of assistance to members.
In addition to the resources outlined above, Technical Alert 02/2022 Small Companies Administrative Rescue Process and an additional guidance document Small Companies Administrative Rescue Process - practical guidance for company directors in a Q&A style are also included on the webpage.