January 2023
On 3
rd January 2023 the Corporate Enforcement Authority (CEA) published an Informative Note on the topic of Early Warning Tools and Restructuring Frameworks.
The purpose of the document is to provide assistance to company directors in understanding certain aspects of the European Union (Preventive Restructuring) Regulations 2022.Specifically, the Information Note has been prepared with a view to assisting company directors to understand:
- The importance of maintaining adequate accounting records,
- what is meant by a company being in financial difficulty, being unable to pay its debts and being insolvent respectively,
- specific aspects of company directors’ duties where a company is in financial difficulty, and
- the potential consequences of non-compliance with company directors’ duties.
Find out more
here.
Source: www.cea.gov.ie