CRO High Court Advice

C

Carols

Registered User
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Hi All, I am in the process of having my company which is currently in 'dissolved status' reinstated. Its costing over 5,000 euro just to have it re-instated as it has to go to the high court etc,.

I've been to the bank to obtain a loan for this and to get my accounts up to date, the cost for all this is 20,000 euro including getting my accounts up to date, I have no idea if I'll get the loan yet.

My question is: Does anyone know is there any way around having to pay the 5,000 euro fee to the high court. I am having to obtain a bank loan to pay this in a time when I am trying to keep people employed in jobs. Even the Bank Manager thought it was huge while we are all struggling.

I want to be compliant in every way but the cash flow simply is not there. Any advice and I would really appreciate it. I have spoken to my accountant who say it simply has to be paid, but I was wondering does anyone know if its worth my while going to the high court myself and explaining my case? Thank you.
 
I don't know the full circumstances of your case but seems like somehow you are in bit of a pickle.
1. You mention that it will take 15K to get the accounts up to date; how big is the business to cost that much? Then who is managing all of this; the accountant?
2. How did the disolution occur in the first place? Who was the sectretary that failed to make the returns? You or was you accountant acting on your behalf?
3. High Court is only involved when the disolution is over 12 months. Is this the case?
4. As you have said cash flow is tight and you are unsure if you will have a loan passed. I'd suggest that a lender may take a poor view of the reason for the need.

The reason I ask so much is I am aware of a case where an accountant acting as secretary allowed a company to be disolved through negligance and then made similar costing claims to get the company reregistered.
 
Thanks for the reply. In answer to your questions:-

1. My last accountants were done in 2008 so I have to do accounts for 2007, 2008,
2009 and 2010, they have to be audited, we are a small company turnover about
150,000 a year.
2. It occured as I was trying to keep cash flow in the company and pay peoples wages,
keep rates, taxes etc up to date, especially when the recession hit.
3. yes its the case its over 14 months now disolved.
4. I spoke to the bank and they understand that I have no debts only this one and have
paid them back all loans over the years, so I have a good credit record with them
and explained I am trying my best to keep things up to date now and want to be
compliant and that is the purpose of me seeking the loan, I appreciate fully they may
take a dim view, but I can only try and resolve things especially for my employees.

Thanks again for the reply.
 
Here's a section from the companyformations website :

"High Court Company Restoration (Dissolved More than 1 year)

Where a company has been struck off the register for more than one year, an application to the High Court must be made to reinstate that company. Company Bureau’s fee for this service is typically €4,500 INCLUDING VAT. This fee includes Solicitor, Barrister, Chief State Solicitor, Companies Office and Revenue Commissioner Legal Fees, High Court Fees and all ancillary Fees and expenses. Please note fees for the filing of outstanding Annual Returns are additional.
Please note the above price is only a guide, and that in exceptional circumstances, the Chief State Solicitor or Revenue Solicitor may increase their fees, and Company Bureau reserves the right to increase the above price accordingly."



With regards getting your accounts up to date, you say you have been quoted E20k? Does this include late filing fees AND the restoration costs above? If you haven't filed accounts since 2008 (for 2006 accounts) then I'm assuming late filing fees would be in the region of E3,500. So it seems you're being quoted approx E11k for 4 years audited accounts which isn't too bad. An audit nowadays requires a lot of work which means a lot of time.
 
Not possible to avoid high court fee. I have sent you pm in relation to audit fee advice.
 
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