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At what point does a company cease trading?

  • 01-02-2018 3:37pm
    #1
    Fake News
    Closed Accounts Posts: 93 ✭✭


    Is it when it is removed from the companies house register?


Comments

  • #2
    hullaballoo
    Administrators, Entertainment Moderators, Social & Fun Moderators, Society & Culture Moderators Posts: 18,774 Admin ✭✭✭✭✭hullaballoo


    There isn't always a certain event that triggers the cessation of trading and any number of events can signify cessation.

    Do you mean at what point is a company deemed to no longer exist?


  • #3
    Fake News
    Closed Accounts Posts: 93 ✭✭Fake News


    I was wondering can a company be still registered but no longer trading?


  • #4
    Claw Hammer
    Registered Users, Registered Users 2 Posts: 6,548 ✭✭✭Claw Hammer


    Some companies never start trading. Some begin trading and then stop, starting again after an interval. Some trade even though struck off, are restored and treated as if they had never been struck off.


  • #5
    Fake News
    Closed Accounts Posts: 93 ✭✭Fake News


    Ok, that makes sense. I was just wondering why someone would ask a question like that.


  • #6
    [Deleted User]
    Posts: 5,121 ✭✭✭ [Deleted User]


    Fake News wrote: »
    I was wondering can a company be still registered but no longer trading?
    Yes - an example I am familiar with was a complicated bankruptcy process where trading ceased but the company continued to exist.


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  • #7
    Peregrinus
    Registered Users, Registered Users 2 Posts: 26,998 ✭✭✭✭Peregrinus


    That's normal. Usually a company ceases trading, and is wound up at some point afterwards. It isn't removed from the companies register until the wind-up process is complete.

    Basically, there are three separate events:

    - The company ceases trading; i.e. it stops entering into new trading transactions, or completing existing ones.
    - The company is wound up - a winding-up resolution is passed, a liquidator is appointed, a creditors meeting is held, that kind of thing.
    - A company is dissolved. This happens when the liquidator has concluded the winding up process, and notifies the registrar of companies, who then removes the company from the register of companies.

    The first event is not always followed by the second, but if the second event does occur then it will almost always be followed at some point by the third.


  • #8
    4ensic15
    Banned (with Prison Access) Posts: 4,691 ✭✭✭4ensic15


    Many companies are struck off for not filing returns and are never liquidated or restored to the register. A restoration application can be made for up to 20 years after the strike off.


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