Status of companies in receivership

13/04/2017

The Companies Registration Office will no longer change the status of a company from “normal” to “receivership” if a company has had a receiver appointed over its assets.

This new practice arises as a result of the Court of Appeal decision in Independent Trustee Company Limited v Registrar of Companies [2016] IECA 274.

Status of assets held on trust in receivership

The Court of Appeal ruled that, where a receiver is appointed to assets owned legally (but not beneficially) by a corporate trustee, the Registrar may not change the status of that company to 'Receivership' as this would be misleading.

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