Companies Act 2014: Changes to Test for Reckless Trading Take Effect

The Employment (Collective Redundancies and Miscellaneous Provisions) and Companies (Amendment) Act 2024 has been commenced with effect from 1 July 2024.

Filed under:
Ireland, Company & Commercial, Insolvency & Restructuring, Arthur Cox LLP
Authors:
Aisling Carey , Suzanne Kearney , Daibhi-OLeary
Location:
Ireland
Firm:
Arthur Cox LLP
Companies Act 2014: Changes to Test for Reckless Trading

The Employment (Collective Redundancies and Miscellaneous Provisions) and Companies (Amendment) Act 2024 (the Act) was signed into law on 9 May 2024 but has not yet been commenced.

Filed under:
Ireland, Company & Commercial, Insolvency & Restructuring, Litigation, Arthur Cox LLP
Authors:
Aisling Carey , Suzanne Kearney , Daibhi-OLeary
Location:
Ireland
Firm:
Arthur Cox LLP
Directors’ duties: new statutory duties to have regard to the interests of creditors

The European Union (Preventive Restructuring) Regulations 2022 have amended the Companies Act 2014 so as to require for the first time in statute that directors of companies unable, or likely to be unable, to pay their debts, must have regard to the interests of creditors.

Filed under:
European Union, Ireland, United Kingdom, Company & Commercial, Insolvency & Restructuring, Arthur Cox LLP, Insolvency
Authors:
Dr Thomas B Courtney , Suzanne Kearney , Daibhi-OLeary
Location:
European Union, Ireland, United Kingdom
Firm:
Arthur Cox LLP