Independent Trustee Company Ltd -v- Registrar of Companies [2016] IECA 274 (13 October 2016)

Independent Trustee Company Ltd -v- Registrar of Companies [2016] IECA 274 (13 October 2016)

The Registrar is entitled to register the notification of receiver appointment over property legally owned by the company, including trust property, but is not permitted to change the company's status to 'receivership' as this is misleading and ultra vires her statutory powers.

Citation
[2016] IECA 274
Parties
Plaintiff/appellant: Independent Trustee Company Limited; Defendant/respondent: Registrar of Companies
Jurisdiction
Ireland
Judgment Date
13 October 2016
Procedural Posture
Civil Appeal / Court of Appeal Judgment
Outcome
Appeal allowed in part
Legal Topics
Corporate Status, Appointment of Receiver, Register of Companies, Trust Property, Statutory Powers
Company Law Trust Law Statutory Interpretation Corporate Status Appointment of Receiver Register of Companies Trust Property Statutory Powers

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Parties

Independent Trustee Company Limited

Plaintiff/appellant

Registrar of Companies

Defendant/respondent

Procedural Posture

Civil Appeal / Court of Appeal Judgment

Legal Issues

  1. 1 Whether the Registrar of Companies has power to record 'receivership' status for a company holding property on trust
  2. 2 Proper construction and application of ss. 99(1), 107(1), and 317(1) of the Companies Act 1963 to trust property

Ratio Decidendi

The Registrar is entitled to register the notification of receiver appointment over property legally owned by the company, including trust property, but is not permitted to change the company's status to 'receivership' as this is misleading and ultra vires her statutory powers.

Court Disposition

Appeal allowed in part

Orders

  • Registrar may file E8 notification of receiver appointment
  • Registrar may not change appellant's status from 'normal' to 'receivership'