Committee of Inspection denied access to Liquidator report to ODCE.

mrjoneill

Committee of Inspection denied access to Liquidator report to ODCE.

I’m on the Committee of inspection of a company being liquidated and had recently had a meeting with the liquidator. The Liquidator has sent a report to the ODCE on the company being would up. I asked for sight of the said report and I was told by the Liquidator that such was confidential, that’s between the Liquidator and the ODCE. I advised the Liquidator that it seems strange that the Committee of Inspection have not sight over one of the most important aspects of the liquidation process and should it lead to going before the courts I’m sure it would be part of the book of evidence at such a trial. Any link to the powers of the above or comment?

dudara

Moved to the Business forum, as this isn't a Consumer Issue

dudara

Jamesw2

This is not my area however I have had a look at Decision Note D/2002/1 issued by the ODCE which sets ot the duties of the liquidator in relation to the Director of Corporate Enforcement. Briefly
2.6.1 Liquidators duty to report on the behaviour of Directors of Insolvent Companies
2.6.2 Liquidators duty to Report to ODCE and the DPP re Criminal Offences
2.6.3 Liquidators duty to produce books to the DOCE

No where does it mention right of Committee of Inspection to see report.

You should check out the ODCE website and this linkhttp://www.odce.ie/en/media_general_publications_article.aspx?article=45e9ebba-ef8b-4728-8c63-bc9f83df3e5c and see if you can gather any further information. Best of luck.

mrjoneill

ODCE

I refer to your email below regarding the entitlement of members of the Committee of Inspection to the liquidator's report submitted to this Office pursuant to Section 56 of the Company Law Enforcement Act 2001.

The liquidator is not obliged to disclosure the content of the Section 56 Report to any member of the Committee of Inspection. This Office is also prohibited from disclosing the content of the report under Section 17 of the Company Law Enforcement Act 2001.

Further information on the role of the Committee of Inspection can be found on our website at the following link: http://www.odce.ie/en/media_general_publications_article.aspx?article=45e9ebba-ef8b-4728-8c63-bc9f83df3e5c

Please note that under Section 56 of the Company Law Enforcement Act 2001, the liquidator of an insolvent company must report to the Director of Corporate Enforcement within six months of his appointment as liquidator. This report will deal with the conduct of the directors and the liquidator has an obligation to apply to the court under Section 150 of the Companies Act 1990 to restrict each of the directors of the company unless the Director of Corporate Enforcement has relieved the liquidator of the obligation to make such an application. In arriving at any decision to relieve a liquidator of the obligation to apply to the court under Section 56, this Office will take into account the contents of the liquidators Section 56 report form and also any other information provided to this office separate from the Section 56 reporting mechanism, such as complaints from the public regarding the company.
If you have concerns in relation to the conduct of the directors that you believe should have a baring on the liquidator's recommendation in the Section 56 Report, they should be brought, in the first instance, directly to the attention of the liquidator. You may also send information directly to the ODCE and it will be noted and taken into account in the context of this Office's examination of the behaviour of the directors under the Section 56 reporting mechanism.
I note its only not obliged to report not a legal bar to disclosure by the liquidator.