Companies Act 2014 section 1329

Cases in which unregistered company shall be deemed to be unable to pay its debts

Section 1329 sets out the four specific circumstances in which an unregistered company will be deemed unable to pay its debts for the purposes of winding up.

• A creditor owed more than €10,000 serves a written demand and the company fails to pay or reach an arrangement within 21 days
• A company member is sued for a company debt, the company is notified, and it fails to resolve the matter within 10 days
• A court judgement against the company, a member, or a nominal defendant remains unsatisfied after enforcement attempts in Ireland or a recognised foreign state
• The court is otherwise satisfied on the evidence that the company cannot pay its debts