The Irish Government has this week published a first draft of its proposed new Companies Bill (the “Bill”). The publication of this draft marks a significant development in the strategic reform of Irish company law and represents a strong desire on Ireland's part to ensure we have a modern company law regime in place that will further enhance Ireland’s attractiveness as a place to do business.

Matheson Ormsby Prentice has been actively involved in the progression of this new legislation which has been led primarily by the work of the Company Law Review Group (our Corporate Partner, Deirdre-Ann Barr, is a member).  We have also been proactive in our submissions and consultations on the new provisions.  We have placed a particular emphasis on those issues we have discussed with many of our clients and which often have a critical bearing on the feasibility of various strategies or restructurings that have been undertaken in the past.

As the Bill is further refined and progresses through the public consultation and legislative process, which is expected to take at least another two years, we will keep you updated on all material developments.  In the meantime, if you have any particular queries or you would like any further information, please do not hesitate to contact Robert O'Shea or Pat English.