Sunday 23 October 2016

CRO wrong to change status of pension firm

Tim Healy

Published 14/10/2016 | 02:30

A pension provider has won an appeal over a decision by the Companies Office to change its registration status from "normal" to "receivership" after a lender appointed receivers over an asset held in trust by the provider.

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The Registrar of Companies is entitled to file a notification of such a receivership but it was not permitted to change its status, the Court of Appeal ruled.

The Independent Trustee Co Ltd brought the action against the Registrar of Companies over the entry of the word "receivership" on its status on the electronic register following the filing of a notice by a lender, West Bromwich Commercial Ltd.

The court adjourned the making of a precise order in the case to another date.

Irish Independent

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