Corporate insolvencies saw 30% year-on-year increase in H1 2023
Corporate Insolvency Statistics H1 2023
Total of 329 corporate insolvencies recorded in Ireland in the first half of 2023 represents an increase of 30% from the same period in 2022, when a total of 253 insolvencies were recorded.
The Small Company Administrative Rescue Process
Accessible restructuring for small and micro companies
The Bill follows the publication of the proposals for the Small Company Administrative Rescue Process (SCARP) on 25th May 2021, public submissions in March 2021 and a report by the Company Law Review Group in October 2020.
22% increase in level of corporate insolvencies in Q1 2023
Corporate Insolvency Statistics Q1 2023
146 corporate insolvencies were recorded in Ireland in the first quarter of 2023, according to the latest insolvency statistics published by Deloitte which represents an increase of 22% from the same quarter in 2022.
Turnaround & Restructuring Services Insights
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Directors duties under the Companies Act 2014
Directors have statutory obligations as officers of companies, particlularly when a company is facing financial challenges
All company directors, including non-executive directors, have fiduciary duties and statutory obligations as officers of companies under the Companies Act 2014 (“the Act”), particularly when a company is facing financial challenges.