Stopping irresponsible directors
A petition can be made to the High Court to wind up a company where it is “just and equitable” that the company be liquidated. In such a case, the official liquidator will investigate the activities of the directors and prepare a report to the Director of Corporate Enforcement under Section 56 of the Company Law Enforcement Act 2001. At this point, the official liquidator may proceed with an application to restrict or disqualify the company directors from acting as directors again under Section 150/160 of the Companies Acts 1963 – 2003.