Companies Act 2014 section 517

Related companies

Section 517 deals with the court's power to extend an examiner's appointment to companies that are related to the company already under examinership, typically within the same group of companies.

• Where an examiner has been appointed to a company, the court may extend that examiner's role to a related company, provided there is a reasonable prospect of the related company surviving as a going concern
• A related company brought under the examiner's remit is treated as being under court protection for the same period as the original company
• The court cannot make such an order where the related company has obligations connected to assets transferred to NAMA, unless NAMA has been served with the application and heard by the court
• The Circuit Court may only extend the examiner's appointment to a related company if that related company qualified as a small company in its most recent financial year