Revenue eBrief No. 216/21

24 November 2021

Liquidation of Companies and other Company Law issues

The Tax and Duty Manual (TDM) Liquidation of Companies and other Company Law issues  has been amended to reflect the extension of the Companies (Miscellaneous Provisions) (Covid-19) Act 2020 (the Act) to 31 December 2021.

  • Section 4 Procedure for Liquidation has been updated at paragraph 4.3. The minimum amount for a demand is €10,000 for one creditor or €20,000 for two or more creditors. The Act increased the minimum amount for a demand to €50,000.
  • Section 14 Examinership has been updated. Examinership allows companies which are experiencing financial difficulties to seek the protection of the High Court from creditors for a limited period (up to a maximum of 100 days). The Act increased the maximum days to 150 days.