Ireland · Examinership and the small company rescue process
Examinership: the petition, the independent expert's report and the period of protection
the Companies Act 2014 · sections 510 to 513, 519, 521, 522, 525 to 527 and 529 to 533
Where the problem is
The filings that follow a petition run on three days, not on the usual fortnight. Notice of the petition in the prescribed form must be delivered by the petitioner to the persons section 531(1) names within 3 days after the date of its presentation. The examiner must deliver a copy of the order of appointment to the Registrar within 3 days after the date of appointment (section 531(4)). A certified copy of an order under section 530(1) or (2) in relation to a security must reach the Registrar within 7 days after the date the order was made (section 530(6)).
During protection, payment is controlled. No payment may be made by the company, during the period it is under the protection of the court, in satisfaction or discharge of the whole or part of a liability incurred before the petition, except as section 521(1) allows. Directors who keep paying trade creditors in the ordinary way during protection are outside the section.
What the Companies Act 2014 requires
Sections 510 to 513 and 519 govern who may petition, what the petition must contain and the independent expert's report that goes with it. Where the company is a Schedule 5 company, section 510(4) applies its own list of persons who may present a petition and the further provisions the subsection sets out.
Sections 521, 522 and 525 to 527 govern the effect of the petition, the repudiation of contracts and the production of documents and records. Sections 529 to 533 govern certified liabilities, charged property, the notifications listed above and the treatment of irregularities. The protection period is a court-supervised moratorium, so the company's own view of what is fair does not displace what the sections permit.
The tool that solves it
Files 79, 80 and 81 of the IE-COMPANY package cover this situation. File 79 works through the petition and the independent expert's report. File 80 works through the effect of the petition, the treatment of pre-petition liabilities, repudiation and the production of documents. File 81 works through certified liabilities, charged property, every notification with its date and the treatment of irregularities.
This situation is covered by these files from the pack IE-COMPANY
- File 79 · Examinership: the petition and the independent expert's report
- File 80 · Examinership: effect of the petition, repudiation and production of documents
- File 81 · Examinership: certified liabilities, charged property, notification and irregularities
Files for this situation
Free · this situation only
The working files named above cover this situation. You take them from your free ComplianceSME account when this situation arises, and you come back to the site for the next situation.
You take the starter pack first: PRINT_ME_FIRST.pdf, the training file T_TRAIN, the four volumes of the reference file T_HELP, and File 1, which builds the ENTITY_PASSPORT.md that the other files require. The situations open in your account once you have taken the starter pack.
Take the files for this situationThe free system
Free · with a free account
The ComplianceSME system for the Companies Act 2014 is free. It needs a free ComplianceSME account and runs inside your own Claude account. It holds 215 working files, the training file, the reference file in four volumes, the regulation analysis, the final review with the gap analysis, and the report assembly. You take the starter pack first, and after that the files for one situation at a time, as each situation arises.
The starter pack holds PRINT_ME_FIRST.pdf, the training file T_TRAIN, the four volumes of the reference file T_HELP, and File 1, which builds the ENTITY_PASSPORT.md that every other working file requires. Print PRINT_ME_FIRST.pdf and read it before any other file.
The system runs in your own Claude account. Upload the files, type START, and the system asks you one question at a time until it has built your documentation, citing the section at every point.
Take the starter packComplianceSME tracks the Companies Act 2014 and issues update files through the membership, so that you are never working from a superseded version. Membership