Companies Act 2014 section 1425

Preservation measures

Section 1425 deals with requests to secure and preserve a debtor's assets located in the State, setting out how such requests are made and the High Court's powers to grant or refuse them.

• Any request to secure and preserve a debtor's assets in Ireland must be directed to the High Court.
• The High Court may grant any protective measures that fall within its normal jurisdiction and powers.
• The High Court may refuse to grant the measures if it considers that its lack of jurisdiction over the underlying subject matter makes it inappropriate to do so.
• This provision originates from Regulation 9 of the European Communities (Corporate Insolvency) Regulations 2002.