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Background   When a company is insolvent, the directors have a duty to protect creditors interests and to take restructuring advice, and this more often result in the company being wound up via a Creditors voluntary Liquidation (CVL).   One of the primary duties of an appointed liquidator is the realisation of the company assets, and in this regard the maximisation of funds proceeds on behalf of the creditors, for whom there may be a dividend, payable in order of strict legal

Introduction Director loans are commonplace in SME companies, and more usually refer to the loans extended to a company to carry out its endeavours. The director loans to which this article relates and to which the cited legislation applies, are loans drawn down from the company, that is outside of the salaried payments which are processed through payroll and taxation. The raison d’etre for the legislation in respect of director loans is to ensure that company funds are prote

Article Updated March 2026 1)     Introduction In July 2023 the CRO re-commenced enforcement proceedings issuing 10 week warning notices to companies which were not up to date with their Annual Returns. This followed a hiatus period, of some 3 years, and since the outset of the pandemic, whereby a certain leeway has been afforded to companies to allow time to have returns filing brought up to date. In October 2023, the first compulsory / involuntary strike off notices will be

Are you wondering about the role of an audit accountant in Dublin? How can an audit accountant in Dublin uphold regulatory compliance?...

Whereas CVLs (creditors voluntary liquidation) deal with insolvent companies, MVL (members voluntary liquidation) winding ups are in...

The creditors meeting takes place at a place and time as advertised in the statutory notices (10 days notice by post to creditors and...

Directors Duties when a company is facing Insolvency 1)     Introduction The definition of insolvency has two elements, negative net...

In today's complex financial landscape, having a skilled accountant by your side is essential for both individuals and businesses. Our...

As one of Ireland's most established and respected insolvency accountants, McCarthy Walsh has helped businesses and organisations...

The Annual Return date (ARD) is an important calendar date on the company’s annual horizon. The ARD must fall within nine months of the...

When a company is facing insolvency, it can be a difficult and stressful time for directors. Nonetheless, it is important that the...