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Company - Ss. 160(2) and 150 of the Companies Act 1990 - Ss. 842 and 819 of the Companies Act, 2014 - Disqualification and restriction - Undisputed wrongful acts - Irresponsible conduct

Posted 21/10/2016

Facts: The applicants/liquidators, by way of the present application, sought an order to disqualify the first named respondent and restrict the second named respondent under s 160(2) and s. 150 of the Companies Act, 1990 and s. 842 and s. 819 of the Companies Act, 2014, respectively. The second named respondent fairly recognised the per se omissions, which could be attributed to the first named respondent. The second named respondent contended that the first named respondent, by acting deceitfully and fraudulently, had hindered compliance by the second named respondent. 
Held: Mr. Justice Tony O’Connor made an order to disqualify the first named respondent and a declaration to restrict the second named respondent. The Court found the commission of unchallenged wrongful actions by the first named respondent in connection with the companies and its creditors and thus, made an order of disqualification for five years under s. 160 (2) (a) of the 1990 Act or s. 842(a) of the 2014 Act. The Court held that it was not satisfied that the second named respondent acted responsibly in the matters of the company. The Court held that the plea of naivety and ignorance of potential deceit by the first named respondent could not excuse the necessity of the second named respondent to act responsibly. The Court held that having regard to the nature of work required to be performed by the second named respondent, the second named respondent ought to have made proper enquiry into the continuing noteworthy losses incurred by the company, according to the information available. 
Walsh, Joseph and anor v Barrett, Alan and anor and in the matter of Eventelephant Limited (in liquidation)
27/7/2016 No. 2013/335 COS [2016] IEHC 525

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