ODCE Annual Report 2020

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...