Ireland · Examinership and the small company rescue process
The small company administrative rescue process: eligibility, the resolution and the appointment
the Companies Act 2014 · sections 558B to 558O
Where the problem is
The rescue process starts on a determination and then runs on very short periods. Any meeting called under section 558E(2) must be held before the expiry of the period of 7 days beginning on the date on which the directors of the eligible company receive the determination (section 558E(3)). The process adviser must keep the section 558C determination under review throughout the rescue period (section 558F(2)), so eligibility is a continuing condition rather than an entry test.
Notice of the appointment is the step that fixes everyone's position. The process adviser must, as soon as practicable and in any event no later than 5 days after the passing of the resolution, give the persons specified in section 558K(3) the notice section 558K(2) requires. As soon as practicable after the resolution, the process adviser must also give the notice section 558L(2) requires to a creditor, requiring that creditor to respond.
What the Companies Act 2014 requires
Sections 558B to 558E govern eligibility, the determination made in relation to an eligible company and the resolution of the directors to appoint a process adviser. Sections 558F to 558J govern the process adviser's role, the review of the determination and the requirements on appointment.
Sections 558K to 558O govern the notice of appointment, excludable debt, the powers of the court and the requirements that follow notice. Excludable debt is not swept into the plan automatically, so a company that assumes all its liabilities are covered has misread the position it will be in at the end of the process.
The tool that solves it
Files 84, 85 and 86 of the IE-COMPANY package cover this situation. File 84 works through eligibility and the resolution to appoint. File 85 works through the process adviser's determinations and the notice of appointment. File 86 works through excludable debt, the court's powers and the requirements that follow the notice. Each file asks for the dates on which each step happened, because every period in this Part is measured in days.
This situation is covered by these files from the pack IE-COMPANY
- File 84 · The small company administrative rescue process: eligibility and the resolution to appoint
- File 85 · Rescue process: the process adviser's determinations and notice of appointment
- File 86 · Rescue process: excludable debt, the court's powers and requirements following notice
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