This is the scenario:
Company X - with director Mr A and Mr B contracted to build a house. Monies paid, job not completed. Clients then discover that Company A has done this to other clients, trail of unpaid contractors and suppliers etc...
Company X is liquidated by Revenue Commissioners. In the meantime, Mr A and Mr B hook up with Mr C and start another company - Company Y - same story ensues... unhappy clients, unpaid contractors and suppliers..
Company Y is put into liquidation by the Revenue - High Court case. Some idle late night googling uncovers the surprising (not!) fact that Mr C has now started up another company with another party...
Who allows this?? Would the Director of Corporate Enforcement be the body charged with seeing that this does not happen?
I did just that late this afternoon. I have to fill in an online complaint form and email it to them and they will look into it. By my calculations, Mr A has now started 4 companies in the last 5 years - 3 of which have been liquidated by order of the High Court...
Yet another example of incompetent regulators.
Let’s give them more powers so they can not enforce those as well!
That way compliant businesses will have more costs and the gangsters will carry on as is.
Yet another example of how our antiquated legal system prevents efficient regulation more like.
Everything to do with ODCE actions has to happen at High Court / Commercial Court level AFAIK, which is madness IMHO. Powers are all well and good, but if they can only be enforced through the courts then your Regulator is already fighting a losing battle.
I actually sympathise with the ODCE staff, they're stuck between the rock of widespread non-compliance, and the hard place of bureaucracy...
The sheer number of man hours (and cost) required to go through all the legal red tape to take an action, against even the most straightforward of offenders, would probably make your mind boggle.
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