Moorfields Appointed Administrators Over Leading European Provider of Elections
Simon Thomas and Nick O’Reilly of leading restructuring and insolvency firm, Moorfields Corporate Recovery Ltd, were appointed administrators over Electoral Reform International Services Limited (ERIS) on 19 November 2014.
The ERIS is a UK based not-profit-making organisation providing support to strengthen democratic institutions, processes and culture around the world. It has been one of the few dedicated European organisations working in this area.
Unfortunately as a small non-governmental organisation without core funding it has become increasingly difficult to operate in recent years given the economic climate and the consequent reduced funding available.
Nick O’Reilly, Joint Administrator commented “ERIS carried out the majority of its work funded by EU grants and contracts. There has recently been an EU funding crisis and projects planned have had to be deferred or cancelled. ERIS had staff expertise to deal with these projects but as they did not materialise cash flow problems arose which the company were unable to recover from”
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