High Court Order charging shares of shareholder

A number of court actions have been heard in the Commercial High Court, the result of which have been High Court Orders charging shares held by third parties in certain companies ("Charging Orders") in favour of the Plaintiff to the proceedings (in each case to date, a banking institution).

These Charging Orders have included a direction that the Plaintiff's solicitors serve on the Registrar of Companies a copy of the High Court Order, as well as a direction that the Registrar place a copy of the Charging Order on the public file of the company/ies whose shares, held by a third party or parties, are the subject matter of the Charging Order. 

Please note that the CRO cannot and will not accept an order which does not expressly request the Registrar to place the order on the public file.

The purpose of the Judge's direction is to alert all interested parties as to dealings concerning the shares of the company/ies in question, which shares are held by shareholder(s) who is/are subject to the Charging Order.

The Charging Orders do not involve a charge over the assets of the company itself, but concern the shares of a shareholder or shareholders in that company. The Charging Orders are accordingly designated "HC Order charging shares of shareholder". Whenever any such order is delivered to the CRO, it is accorded the status of "Received", and is then scanned and made available for public inspection as if it were a submission filed under the Companies Act 2014.

Solicitors furnishing such orders to the Registrar of Companies should ensure that an office copy of the order is forwarded without delay for the attention of : Adrienne Healy, Companies Registration Office, Bloom House, Gloucester Place Lower, Dublin 1

Note that no filing fee applies to such Charging Orders as they are submitted on foot of a Court Order rather than in compliance with a filing obligation under the Companies Act 2014.