The Office of the Director of Corporate Enforcement recently published its 2020 Annual Report. The main observations from the report are:-
- 669 Liquidators’ Reports Received – down almost a quarter on 2019 levels
- ODCE expect that the level of corporate insolvencies will increase, potentially substantially in 2021 a view that current State supports are masking true levels of corporate financial distress
- 75 Auditors’ Indictable Offence Reports Received down 29% on 2019 – expectation that these reports will increase in 2021
- 18 company directors being disqualified in respect of dissolved insolvent companies
- 25 years Longest (in years) Disqualification imposed by the High Court
- 265 Aggregate (in years) Restrictions Imposed by the ODCE
- €5.7m Directors’ Loans Rectified
- 1,500 Guidance Documents Disseminated
- 56 Company Directors Restricted
- 82 Aggregate (in years) Disqualifications Imposed by the ODCE
- 12 Criminal Convictions
- 7 Search Warrants Executed
- 55 Criminal Charges Directed
- 100 Percentage of Convictions Secured Based on Guilty Pleas
- 149 Complaints Received down 41% on 2019
- 14 Voluntary Cautioned Interviews
- 65 Production Orders Issued
- 9 Arrests
- 6 Terabytes of Digital Evidence Seized, Processed and Analysed
- ODCE are working on the transition from an Office of the Department to the Corporate Enforcement Authority
Note: The content of this article is provided for information purposes only and does not constitute legal or other advice.
Share this on...