Why is Subsidiary Legislation 386.24 Companies Act (Suspension of Filing for Dissolution and Winding Up) Regulations (the “Regulations”) still in force?

Almost four years down the line, practitioners cannot help but question exactly why the Regulations are still in force now that most (if not all) pandemic measures have been totally lifted.

How can an enterprise withdraw from the market through liquidation?

What is liquidation?

Enterprise liquidation aims to terminate the existence and related rights and obligations of an enterprise. It can occur by a decision of the owner or it may occur when an enterprise is no longer qualified to exist and is forced to liquidate at the request of the appropriate state agency. We only discuss liquidation by the owner.

Voluntary liquidation:

Many Irish businesses face the challenge of meeting warehoused debt. One option available is to address the debt via the Small Company Administrative Rescue Process (“SCARP”).

Government Schemes

During the Covid-19 pandemic, a lot of Irish companies took advantage of Government schemes, to include the Employment Wage Subsidy Scheme (“EWSS”), the Covid Restrictions Support Scheme (“CRSS”) and Debt Warehousing. PAYE, PRSI, USC, EWSS and CRSS overpayments were all warehoused.

What is Debt Warehousing?

In a landmark decision,[1] the Delaware Court of Chancery addressed, for the first time, the precise duties that a controlling stockholder owes, and the standard of review that will apply, when a controlling stockholder takes actions to block a board of directors’ desired course of action — such as by removing directors or enacting a bylaw requiring a unanimous vote for board action

Weiß ein Forderungsverkäufer von der Zahlungsunfähigkeit seines Schuldners, muss sich der Factor diese Kenntnis im Rahmen eines echten Factorings nicht allein deshalb zurechnen lassen, weil der Factoringvertrag Informations- und Unterstützungspflichten des Forderungsverkäufers vorsieht.

Überblick

On January 2, the Consumer Financial Protection Bureau (CFPB) filed an amicus curiae brief urging the U.S. Court of Appeals for the First Circuit to reverse a district court’s decision finding that a debt collector lacked the requisite knowledge and intent to violate the Fair Debt Collection Practices Act (FDCPA) when it sent a debt-collection communication prior to any knowledge of the debtor’s bankruptcy filing.

We have recently published a few blogs on the hot topic of company insolvencies, including more specifically about:

Key points

The English High Court decision of Hunt v Singh [2023] EWHC 1784 (Ch) has provided the most substantive authority on directors' duties to creditors since the decision of the Supreme Court in BTI 2014 LLC v Sequana SA and others [2022] UKSC 25 (“Sequana”). The case specifically considered the point at which a director’s duty to take into account the interests of creditors arises.

Whether you are starting a new venture, or you have been a company director for several years, you must understand your responsibilities.

Not complying with directors’ duties can lead to disqualification, financial penalties, and even imprisonment.

In this article, you will find the scope of directors’ duties, as set out in the Companies Act 2006 and other legislation such as the Health and Safety at Work Act 1974.