News Formal

Emergency measure extended to ensure companies are not wound up over €10,000 debts

  • 📰 businessposthq
  • ⏱ Reading Time:
  • 14 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 9%
  • Publisher: 71%

Business News News

Business Business Latest News,Business Business Headlines

The single threshold of €50,000 introduced in August 2020 has been extended for another year, to 31 December 2023

The government has extended a Covid move to ensure businesses are not wound up over “relatively small” debts.

Previously, under the Companies Act 2014 creditors could issue a statutory demand for €10,000 for individual debts, and €20,000 for aggregate debts. If the company in debt was then unable to repay, it could be pursued through the courts, and result in a winding up order.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 8. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Emergency measure extended to ensure companies are not wound up over €10,000 debtsThe single threshold of €50,000 introduced in August 2020 has been extended for another year, to 31 December 2023
Source: businessposthq - 🏆 8. / 71 Read more »