Companies Act 2014

F328[Process adviser’s report

558ZA

558ZA. (1) This section applies where the meeting or meetings required to be held under section 558T (the "required meetings") has, or have, taken place.

(2) The process adviser shall, within 49 days of his or her appointment, prepare a report setting out—

(a) the rescue plan that was considered at the required meetings,

(b) any modification of that plan that was agreed to at the required meetings,

(c) the outcome of the required meetings,

(d) a statement of the assets and liabilities (including contingent and prospective liabilities) of the eligible company as at the date of the report,

(e) a list of the creditors of the eligible company, the amount owing to each such creditor, the nature and value of any security held by any such creditor, and the priority accorded under sections 621 and 622 to any such creditor or any other statutory provision or rule of law,

(f) a list of the officers of the eligible company,

(g) the process adviser’s recommendations,

(h) the remuneration payable to, and the costs and expenses incurred by, the process adviser under this Part as at the date of the report, and

(i) such other matters as the process adviser deems appropriate.

(3) The process adviser shall give a copy of the report to—

(a) the eligible company concerned,

(b) employees of the eligible company,

(c) the Director,

(d) the office of the relevant court, and

(e) any interested party who, by written application to the process adviser, requests a copy of the report.

(4) The process adviser shall comply with the requirements imposed by subsection (3)(a) and (b) within 49 days of his or her appointment.

(5) If the relevant court, on an application to it in that behalf, so directs, there may be omitted from any copy of the report given under subsection (3)(e) to an interested party such parts of it as are specified in the direction of the relevant court.

(6) The relevant court may, in particular, on such an application, direct that there may be omitted from a copy of the report given under subsection (3)(e) any information the inclusion of which in such a copy would be likely to prejudice the survival of the eligible company, or the whole or any part of its undertaking, as a going concern.]

Annotations:

Amendments:

F328

Inserted (7.12.2021) by Companies (Rescue Process for Small and Micro Companies) Act 2021 (30/2021), s. 3, S.I. No. 673 of 2021.