Issue 52 (Week ending 27/09/2010)

Between 1st July and 29th September 2010, Petitions appealing to have 28 Companies Wound-Up have been presented to the High Court.

A Creditor can make a petition to the High Court to have a company if they can show that they are owed over €1,269.74 by the company in question.

The average age of these companies is 11.4 years and the most frequent industry sectors for these companies are as follows...

Industry Type Number of Companies Petitioned % of Total Companies

Construction 8 25.8%

Hospitality 7 22.6%

Automotive 3 9.7%

Real Estate 2 6.5%

...these industries account for almost 65% of the total number of companies that individuals are petitioning the Court to have Wound-Up.

Interestingly, the average ages of the Construction and Real Estate companies are 8.3 years and 5.5 years respectively, which is quite a bit younger than the overall average age of the grouping.

Two encouraging signs are that the number of Petitions being presented to the High Court to have Companies Wound-Up in the last 3 months is down 40.4% on figures from the second quarter of this year and also, that the High Court has only ordered the Liquidation of three of these companies while appointing Provisional Liquidators to another two.