The Government has made a further extension until 31 December 2024 of one of the significant interim measures brought in by the Companies (Miscellaneous Provisions) (Covid-19) Act 2020Opens in new window (the "Covid Act") that permitted companies and co-operatives to hold annual, general and creditor meetings virtually.
The Employment (Collective Redundancies and Miscellaneous Provisions) and Companies (Amendment) Act 2024Opens in new window (the “Act”) was signed into law by the President on 9 May 2024 and will commence with effect from 1 July 2024.
The Irish courts have long recognised the principle that directors of companies that are insolvent must have regard to the interests of the creditors of the company as a matter of Common Law.
The European Union (Preventive Restructuring) Regulations 2022 (the "Regulations"), which were signed into law last year, have reinforced and refined this principle in certain respects.
Introduction