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Examinership:

Examinership is a process in Irish law whereby the protection of the court is obtained to assist the survival of a company. It allows a company to restructure with the approval of the court.

* Figures for appointment of interim examiner and examiner may not be mutually exclusive as appointment of interim examiner often precedes appointment of examiner.

Liquidation:

The Companies Act 2014 introduced a new regime for court liquidations.  Since the commencement of the Act on 1st June 2015 the High Court may direct, following the making of an order to wind up a company and the appointment of a liquidator, that the liquidation continue using the rules relating to a Creditors’ Voluntary Winding Up removing the Examiner of the High Court from any role in the winding up.

The examiner continues to have a role in respect of court liquidations where the winding up order was made prior to 1st June 2015.

Restrict directors

In certain circumstances an application can be made to the High Court to have a company director restricted from acting as a director or secretary of a company or be concerned or take part in the formation or promotion of a company. Restriction orders remain in force for a period of five years and confine a person to being a director in certain types of companies that have been adequately capitalised by their shareholders.

Disqualify directors

In certain circumstances the High Court may disqualify a person from being appointed or acting as a director or other officer, statutory auditor, receiver, liquidator or examiner or being in any way, whether directly or indirectly, concerned or taking part in the promotion, formation or management of certain corporate bodies.  These circumstances include where the court is satisfied that the person is guilty of fraud or is in breach of his/her duty under company law or that the conduct of the person makes him/her unfit to be concerned in the management of a company.