Companies Act 2014 section 1424

Currency of payments under enforceable insolvency judgments

Section 1424 deals with how payments arising from insolvency judgments enforced in Ireland must be made in euro, and how foreign currency amounts are to be converted.

• Any amount payable in Ireland under an insolvency judgment enforced by an enforcement order must be paid in euro.
• Where the insolvency judgment states an amount in a foreign currency, conversion to euro is based on the exchange rate prevailing on the date the enforcement order is made.
• A certificate signed by an officer of an authorised institution stating the exchange rate on a given date is admissible as evidence of that rate.
• Authorised institutions include credit institutions, building societies, trustee savings banks and An Post.

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