On May 2, IRE GVT updated superior courts' takeover rules for companies.
- IRE GVT issued the Rules of the Superior Courts (Companies Act 2014 Section 459) 2025 (StIn 150/2025), adding sub-rules (6)-(8) of rule 18 of Order 75 of the Act.
- Inserting immediately following rule 91 of Order 77 XII. Lodgment under section 459 of the Companies Act 2014, rule 92; and inserting into Appendix P to the Rules of the Superior Courts, immediately following Form No. 19, the form set out in the Schedule.
Purpose
- The rules facilitate operation of the Companies Act 2014, section 459(7), where there is a takeover of a company and the target, or offeree, company has not within seven years been able to pay over proceeds to shareholders who did not accept the offer.
Effectiveness
- The new rules are in operation from 16 May 2025.
