Why does a company get Struck Off?
All companies in Ireland are required to be registered with and submit certain returns to the Companies Registration Office (“CRO”).

On an annual basis a company will usually be required to submit abridged accounts and a form B1.

These returns are required regardless of whether a company is trading. Failure to submit these returns will result in an involuntary strike off of the company.

What are the consequences of a company being involuntarily struck off?
•    Assets of the company become the property of the state.
•    Limited liability of the company is lost and if the business is still trading, the directors will become personally liable.
•    Banks could be unwilling to lend to directors in future.
•    Directors may be disqualified from acting as directors in future.

It is important therefore that the directors of a company that has ceased trading and has no assets and liabilities ensures that the correct procedures are carried out and that the company is voluntarily struck off the register.

How can Hughes Blake assist?
•    Prepare the paperwork for voluntary strike off
•    Provide assistance with the filing of CRO returns.

For more information, contact

Neil Hughes, Managing Partner – neil.hughes@hughesblake.ie or
Kieran McCarthy, Partner – kieran.mccarthy@hughesblake.ie