Corporate Insolvency

Insolvency Companies Act

On 24 December 2013, the Companies (Miscellaneous Provisions) Act 2013 (“2013 Act”) was signed into law. The main (but not the sole) focus of this Act is to enable small companies to apply directly to the Circuit Court for examinership and the protection it can afford.

Originally, the contents of the 2013 Act were to be contained in the Companies Bill 2012. Due to the size and complexity of the Companies Bill 2012, its enactment is expected to take place later this year and as a result, we got the 2013 Act in an effort to expedite the examinership regime as it is now introduced.

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