Farrell -v- Balzarini & Anor [2007] IEHC 424 (03 December 2007)

Farrell -v- Balzarini & Anor [2007] IEHC 424 (03 December 2007)

The amended s. 150(4B) of the Companies Act, 1990, as inserted by s. 11(1) of the Investment Funds, Companies and Miscellaneous Provisions Act, 2006, does not apply to applications commenced before its enactment because there is no clear legislative intention for retrospective application. The applicant is entitled to the costs of the application but not to the costs of investigation as remuneration.

Citation
[2007] IEHC 424
Parties
Applicant: Pearse Farrell, Liquidator; Respondent: Emilio Balzarini; Respondent: Prescilla Balzarini
Jurisdiction
Ireland
Judgment Date
03 December 2007
Procedural Posture
Company Law Application (liquidation) / Judgment on Application for Director Restriction and Costs
Outcome
Restriction orders made against respondents; costs of application awarded to applicant; claim for investigation costs refused.
Legal Topics
Director Restriction, Liquidator's Costs, Retrospective Legislation, Interpretation of Statutes
Company Law Insolvency Law Director Restriction Liquidator's Costs Retrospective Legislation Interpretation of Statutes

Case Brief

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Parties

Pearse Farrell, Liquidator

Applicant

Emilio Balzarini

Respondent

Prescilla Balzarini

Respondent

Procedural Posture

Company Law Application (liquidation) / Judgment on Application for Director Restriction and Costs

Legal Issues

  1. 1 Whether the respondents should be restricted from acting as directors under s. 150 of the Companies Act, 1990
  2. 2 Whether the applicant is entitled to costs of the application and costs of investigation under s. 150(4B) as amended by s. 11(1) of the Investment Funds, Companies and Miscellaneous Provisions Act, 2006
  3. 3 Whether the amended s. 150(4B) applies to applications commenced before its enactment

Ratio Decidendi

The amended s. 150(4B) of the Companies Act, 1990, as inserted by s. 11(1) of the Investment Funds, Companies and Miscellaneous Provisions Act, 2006, does not apply to applications commenced before its enactment because there is no clear legislative intention for retrospective application. The applicant is entitled to the costs of the application but not to the costs of investigation as remuneration.

Court Disposition

Restriction orders made against respondents; costs of application awarded to applicant; claim for investigation costs refused.

Orders

  • Respondents restricted from acting as directors or secretaries for five years unless statutory requirements are met.
  • Respondents to pay costs of the application, jointly and severally, to be taxed in default of agreement.