In the Matter of U.S Ltd -v- Companies Acts 1963 to 2009 [2012] IEHC 600 (29 November 2012)

In the Matter of U.S Ltd -v- Companies Acts 1963 to 2009 [2012] IEHC 600 (29 November 2012)

The respondent company is unable to pay its debts as required by statute, the settlement agreement is binding, and no substantial grounds exist for the respondent's claims for credit/set-off due to lack of returns, vouching documentation, and statutory time bar. Revenue acted lawfully and fairly. Winding up is just and equitable.

Citation
[2012] IEHC 600
Parties
Petitioner: Gerard Harrahil, Collector General; Respondent: U. S. Ltd
Jurisdiction
Ireland
Judgment Date
29 November 2012
Procedural Posture
Winding Up Petition / Final Judgment
Outcome
petition granted
Legal Topics
Corporate Insolvency, Tax Compliance, Statutory Demand, Settlement Agreement, Statute of Limitations, C2 Certificate, Credit Claims
Company Law Tax Law Corporate Insolvency Tax Compliance Statutory Demand Settlement Agreement Statute of Limitations C2 Certificate +1 more

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Parties

Gerard Harrahil, Collector General

Petitioner

U. S. Ltd

Respondent

Procedural Posture

Winding Up Petition / Final Judgment

Legal Issues

  1. 1 Whether U. S. Ltd is unable to pay its debts under s. 214 of the Companies Act 1963 as substituted by s. 123 of the Companies Act 1990
  2. 2 Whether the settlement agreement dated 16 January 2009 is binding
  3. 3 Whether the respondent's claim for credit/set-off is valid and not statute barred

Ratio Decidendi

The respondent company is unable to pay its debts as required by statute, the settlement agreement is binding, and no substantial grounds exist for the respondent's claims for credit/set-off due to lack of returns, vouching documentation, and statutory time bar. Revenue acted lawfully and fairly. Winding up is just and equitable.

Court Disposition

petition granted

Orders

  • Order winding up U. S. Ltd
  • Appointment of Jonathon Byrne, Certified Accountant, as Liquidator