Ireland · Examinership and the small company rescue process
Examinership: the creditors' committee, the examiner's proposals and the conclusion of the examinership
the Companies Act 2014 · sections 534, 536 to 540, 542, 544, 554 and 555
Where the problem is
The meetings that decide the proposals run on a compressed notice period. Notwithstanding the general provisions of Part 4 on notice of general meetings, but subject to notice of not less than 3 days in any case, the examiner must convene and conduct the meetings section 534(2)(a) requires and must act in the manner section 534(2)(b) requires. A company that expects the usual 21-day notice has misread the Part.
The conclusion of an examinership carries a filing that closes the process. An examiner, or such other person as the court directs, must act within 14 days after the date of delivery to the Registrar of every order made under the section, in the manner section 555(1) requires. Until that step is taken the record does not show that the examinership has ended.
What the Companies Act 2014 requires
Sections 534 and 536 to 540 govern the examiner's report, the repudiation of certain contracts and the proposals put to members and creditors. The proposals are put to classes, and the composition of each class determines whether the proposals can be confirmed, so the classification is a substantive decision rather than an administrative one.
Sections 542, 544, 554 and 555 govern the creditors' committee, the court's consideration of the proposals and the conclusion of the examinership. The court is not bound to confirm proposals that have been approved, and the sections set what the court must be satisfied about before it does so.
The tool that solves it
Files 82 and 83 of the IE-COMPANY package cover this situation. File 82 works through the examiner's report and the repudiation of contracts. File 83 works through the creditors' committee, the proposals, the meetings convened, the notice given, the classes formed, the court hearing and the filings that conclude the examinership.
This situation is covered by these files from the pack IE-COMPANY
- File 82 · Examinership: the examiner's report and repudiation of certain contracts
- File 83 · Examinership: the creditors' committee, the proposals and the conclusion of the examinership
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. It is engineered for Claude and runs in a dedicated Claude account. It holds 215 working files. 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 is engineered for Claude and runs in a dedicated 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
- The small company administrative rescue process: eligibility and appointment
- The rescue process: contracts, the rescue plan and the meetings
- The rescue process: conclusion, the process adviser and the records
- A members' voluntary winding up and the final dissolution
- A creditors' voluntary winding up and the final meetings
- Realising the assets, the statement of affairs and antecedent transactions
- Paying the creditors: preferential payments and unclaimed dividends
- The liquidator: qualification, appointment, powers and remuneration
- Contributories, the committee of inspection and the court's powers
- Running the winding up: annual meetings, progress reports and offences
- Voluntary strike off and restoration to the register
- Investigations, production of books and compliance orders
- Restriction and disqualification of directors
- The designated activity company
- The company limited by guarantee
- Unlimited companies: private, public and public unlimited without share capital
- Re-registering as another type of company
- Forming a public limited company and the trading certificate
- PLC share issues, payment and non-cash consideration
- Disclosing an interest in a PLC's shares
- A PLC acquiring its own shares and making a distribution
- The PLC board, serious loss of capital and other PLC requirements
- A merger involving a public limited company
- A division involving a public limited company