2017 Ezine Newsletter

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1. CRO E-Zine
This is an electronic bulletin published once a month. It informs all subscribers of the current developments within the Office and also notifies subscribers of future events.

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The email newsletter service is effectively split in two (though only one subscriber list is used). Every subscriber receives delivery of the CRO E-Zine once every month. In the interim subscribers may receive further updates if necessary from the Office (urgent or time sensitive messages).

Interim Ezine 165a - 21st March 2017

ALTERATION OF COMPANY STATUS DESCRIPTION 

Please note that the CRO is introducing a change in how it presents information where a receiver is appointed to the property of a company.

This change, which comes into effect from Wednesday 22nd March 2017, is being made in light of a recent Court of Appeal judgment in the case of Independent Trustee Company Limited v Registrar of Companies [2016] IECA 274 (“ITC case”).

The judgment in the ITC case arose from litigation brought by ITC in respect of the registrability of a Form E8 (notice of appointment of receiver) filed in 2011 against property of that Company. The Company contended that a filing did not arise unless the property affected is beneficially owned by the Company against which the Form E8 is lodged. (Section 436 of the Companies Act 2014)

The Court of Appeal in its judgment found that the Registrar is entitled to file the Form E8 but cannot change the status of the Company from “Normal” to “Receivership”. Therefore, in future a Company’s status will remain “Normal” even though a Form E8 has been received and registered in relation to the property of the company.

In future when a receiver is appointed to some or all of the property of a company, the company’s status will continue to read “Normal” or "Liquidation" (where appropriate) on the register but a note will appear immediately below alerting interested parties to the fact that a Form E8 has been filed.

Where the existing status of a company is "Receivership", the status will now be "Normal". Where the existing status of a company is "Receiver/Liquidator", the status will now be "Liquidation".

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