The Companies Registration Office (CRO) is the statutory body charged with maintaining the register and enforcing filing requirements. Over the last decade CRO have significantly upgraded their computer systems and have tightened up their compliance regime.
Where a company is involuntarily struck-off the register, this does not relieve the directors of their obligations to the creditors, employees and shareholders. Indeed the consequences of letting an insolvent company be involuntarily struck-off the register can be more severe than placing the company into liquidation.
The voluntary strike-off process allows for a company which has ceased to trade and has no assets or liabilities or a company which has never traded to be removed from the register at minimal cost.
O’Brien & Co. can advise and assist directors on either process.