The Office of the Director of Corporate Enforcement (ODCE) has published its Annual Report for 2013.

The key findings from the Annual Report for 2013 were:

  • The ODCE secured the rectification, on a non-statutory basis, of directors’ loans to an aggregate value of approximately €62m;
  • 25 individuals were disqualified and a further 3 individuals were restricted on foot of Court applications made directly by the ODCE;
  • 9 disqualifications and 219 restriction orders were imposed by the High Court as a result of action taken by liquidators supervised by the ODCE;
  • 17 criminal convictions were secured for breaches of the Companies Acts;
  • Approximately 2,306 reports or complaints were dealt with by the ODCE, both from the professional bodies and members of the public;
  • A number of prosecutions were taken by the ODCE resulting in 17 convictions including 2 automatic disqualifications for non-compliance with the Companies Acts; and
  • There was a 15% reduction in insolvent liquidations in comparison to 2012.