Curing defect in Summary Approval Procedure
The summary approval procedure was one of the major innovations introduced by the Companies Act 2014. It requires, inter alia, a statutory declaration of solvency to be filed with the Companies Registration Office (CRO) within 21 days of the commencement of the "restricted activity". A failure to deliver the declaration on time will result in the activity being deemed illegal and may also result in criminal charges against the company and its officers. Once the 21-day time limit has elapsed then it is no longer possible to file the necessary declaration with the CRO without an order of the court declaring the restricted activity to be valid. That application is made pursuant to section 203(4) of the Companies Act 2014 and we are pleased to offer it on a fixed-fee basis.
Our service includes:
- Arranging a consultation with you.
- Instructing Counsel to carry out necessary research and enquiries.
- Instructing Counsel to draft the necessary court papers.
- Instructing a solicitor to represent you in the court proceedings (if you do not already have a solicitor).
- Instructing both Counsel and a solicitor to attend the High Court to make the application.
Price: €2,400 plus VAT
Price for Counsel only: €1,500 plus VAT*
*This option is suitable if you are a solicitor or already have a solicitor and only wish to instruct one of our specialist Counsel.