The government is set to discuss the drafting of legislation to allow businesses to apply to the Circuit Court for examinership.

The measure aims to reduce the costs attached to an application for examinership, and to allow increased numbers of businesses - in particular small and medium sized companies - use this route out of difficulty.

Figures from the Department of Justice indicate that costs in the Circuit Court are, on average, 30% lower than in the High Court, depending on the complexity of the case.

Jobs Minister Richard Bruton says the government is committed to putting better structures in place to allow businesses to restructure their debts more easily.