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ARTICLE · 16 FEBRUARY 2023

Preventive Restructuring Regulations

Flynn O'Driscoll
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In July 2022, the European Union (Preventive Restructuring) Regulations 2022 (the "Regulations") were transposed into Irish law.

IrelandCorporate/Commercial Law
Michael Hanley
Michael Hanley
Danny Heffernan
Danny Heffernan
Daire Cassidy
Daire Cassidy

Key Points from the Corporate Enforcement Authority's Recent Information Note on the European Union (Preventive Restructuring) Regulations 2022

In July 2022, the European Union (Preventive Restructuring) Regulations 2022 (the “Regulations”) were transposed into Irish law. The primary focus of the Regulations is to ensure that there are restructuring frameworks in place to assist viable companies that are in financial difficulty.  The Regulations have amended the Companies Act 2014 (the “Companies Act”) and have placed new statutory duties on company directors. A recent information note published by the Corporate Enforcement Authority (the “CEA”) provides welcome guidance regarding the scope of these new directors' duties.

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